The Singapore Skills Investment Mission to Indonesia paid a visit to CoHive Menara Mandiri on April 26, 2019 to meet several startup members of CoHive to gain insights about potential business expansions between Singapore and Indonesia. The participants were introduced to the Indonesian startup environment and explored partnership opportunities with the CoHive members, aside from gaining better understanding about the technicalities of entering the Indonesian market.
The Singapore Skills Investment Mission is organized by Accelebator, with the support of LessonsGoWhere, SkillsSG Ventures, Octagon Universal, SAPTCO Singapore and Singapore Association of Private Education (SAPE). Between 23 April to 26 April 2019 they held a focused business mission trip with the intention of giving its participants a deeper understanding of the various opportunities in the skills market in Indonesia. The participants of the mission are 28 representatives of Singaporean Training providers and Private Education Institution eager to explore opportunities in the Indonesian education and training landscape.
During the visit, the participants attended a session on the Legal Necessities to Set Up Foreign Business in Indonesia by CoHive’s partner, Kontrak Hukum. The founder and CEO of Kontrak Hukum, Rieke Caroline elaborated, "As the 4th most populous country in the world, Indonesia is certainly the right place to invest. Not only as a potential market, but also an affordable workforce. Remove the stigma that establishing a company in Indonesia is difficult. Kontrakhukum.com simplifies the process of establishing a business in one click. Our online system is able to cut the duration and price up to 50%"
The session is then followed by a sharing session with 2 CoHive member startups from the education and training sector about their experience setting up the business, as well as the challenges and opportunities in the education and training sector in Indonesia. Near the end of the visit, the mission participants were given a tour of the modern and innovative CoHive office.
The participants found the visit to CoHive enriching, as expressed by Prabu K Naidu, the CEO and founder of Facilitators Network Singapore, “The business landscape is changing and we have better understood the situation here on the opportunities where companies in Indonesia and Singapore can collaborate together for mutual benefits. We would not have gotten this information just by reading some articles or newspaper”.
These providers of training and private education from Singapore see Indonesia as a potential business market since it is the 5th biggest contributor to the world economic growth, with an annual GDP of more than USD 1 Trillion since 2017. The mission organizers believed that there will be a growing need for skilled workers in Indonesia, currently having only 57 million out of the projected 113 million skilled worker required for 2030. (Source: McKinsey Global Institute, IMF & Central Bank of Indonesia in Ministry of Labor, 2018)
CoHive was chosen as the final stop in the tour after the Coworking giant managed to impress Accelebator representative Anderson Tan during a visit last year to CoHive BSD location. Tan was taken by the set up and programs that enrich the coworking space experience of its 8.000 members from 800 companies. “The sharing by some of the startups have been very interesting because some of these startups are not originating from Indonesia. They are startups brought in from other countries. The way some of these startups are actually customizing products for the Indonesian market actually gives us refreshing insights on how we can bring some of our innovative services and products into the Indonesian market.” Anderson Tan said.
Upon receiving the request, CoHive rose to the challenge and demonstrated their capacity to facilitate cross-border business expansions. As CoHive’s Head of Corporate Communication Kartika Octaviana conveyed, “We would like to be the facilitator for foreign companies who would like to expand to Indonesian market as well as for Indonesian companies who would like to expand overseas. We provide the space, network, as well as expertise. This is why we really welcome the collaboration with the Singapore Skills Investment Mission by Accelebator.”
Thanks to its wide network of startups, investors and business partners, CoHive is also able to provide insights and knowledge about the rapidly growing landscape of small Indonesian companies targeting the international market.