MCI Reveals 6 Startups Will Be Integrated With Mandiri Group

Illustration (Photo: Doc. PT Mandiri Capital Indonesia)

JAKARTA PT Mandiri Capital Indonesia (MCI) held the peak event of Zenith Graduate Day as a closing part of the first batch of the Zenith Accelerator Batch program.

There are 6 finalist startups that have the opportunity to join the Mandiri Group ecosystem.

Mandiri Capital Indonesia CEO Ronald Simorangkir conveyed that the Zenith Accelerator program from MCI aims to accelerate business integration with business units within the Bank Mandiri ecosystem and the Subsidiary Company.

The initial phase of Zenith Accelerator which includes curation and startup selection begins in October 2023.

After six startup finalists were selected, they underwent a series of intensive coaching for four months, which included the Mentoring, Synergy Creation and Synergy Acceleration sessions.

In the mentoring session, the selected startups were guided by experienced mentors to gain business insight and operation.

Then, in the synergy creation and acceleration sessions, they will meet with several stakeholders in one session to explore cooperation.

In addition, Zenith Accelerator also facilitates business integration between startups and business units to freely explore forms of mutually beneficial partnerships.

Ronald conveyed that through Zenith, MCI is fully committed to accelerating innovation and sustainable growth throughout the Mandiri Group ecosystem. The program has given birth to 6 startups that are ready to be integrated with the Mandiri Group.

"The success of the six finalist startups with our business unit is not only a step forward in strategic cooperation, but also proves a significant increase in operational efficiency and the creation of added value for the Mandiri Group," Ronald said in his official statement, Thursday, March 7, 2024.

Carrying the theme Catalyzing Growth, Innovation and Sustainability, Zenith Accelerator has selected 6 (six) startup finalists, namely Rekosistem, a waste management company that aims to create a sustainable ecosystem using technology solutions and environmentally friendly methods.

Furthermore, Lifepack, a digital pharmaceutical company that provides quality medical services and supplements and Fishlog, an aquaculture company that focuses on driving the ecosystem for the fisheries cold chain industry.

Then, Practically, data-based supply chain solutions providers for brand DTC (Direct to Consumer), AI Rudder, present AI robotic technology (Artificial Intelligence) for customer service automation and Imajin, a manufacturing hub company where customers can select local manufacturers to make their products.

Mandiri Capital Indonesia Chief Investment Officer Dennis Pratistha said that through a series of innovative programs that include Xponent, Y-Axis and Zenith Accelerator, MCI has consistently confirmed its position as hub innovation for startups.

In addition, Dennis said, these programs not only prepare startups to penetrate the global market, but have also produced significant business deals.

"This collaboration marks MCI's full commitment to building a conducive startup ecosystem, encouraging innovation and ensuring sustainable growth," he said.

The six finalist startups from Zenith Accelerator have developed a number of strategic synergies with Bank Mandiri.

First, through AI Rudder, Bank Mandiri integrates voice assistant technology to facilitate the credit collection process and improve the work efficiency of billing agents.

Second, there is a referral loan cooperation scheme with Imajin, which allows Bank Mandiri to provide credit to Imajin's manufacturing partner with potential in the Indonesia Manufacturing Market of 253K tier 2 (small manufacturing industry) and 4.1 Million Tier 3 (Micro Manufacturing Industry), as well as cooperation with the investment credit scheme where Bank Mandiri provides credit facilities for purchasing machines to Imafin.

Furthermore, Bank Mandiri implemented a loan referral scheme with Fishlog, providing loans to Fishlog partners in the fishery industry with 200+ fisheries potential in the SME class who have joined Fishlog.

With LifePack, Bank Mandiri will carry out the integration of KUM Tuangan products which facilitates LifePack partner pharmacies to obtain credit facilities in purchasing medicines through LifePack's Tetama platform.

In Indonesia itself, there are 31K pharmaceuticals spread across which this could be a potential funding for Bank Mandiri KUM Class products.

On the other hand, practically working with Bank Mandiri through an invoice financing scheme, supporting a 300+ brand of practical partners to get credit facilities.

Finally, Mandiri Capital Indonesia together with Menara Mandiri synergize with the Rekosystem to establish a waste recycling facility (Waste Station) that supports Bank Mandiri in achieving the Net Zero Emission (NZE) target operationally by 2030, as part of their commitment to environmental sustainability.

Ronald said that all of these synergies reflect Bank Mandiri and Mandiri Capital Indonesia's initiative to support the growth of the startup ecosystem and strengthen innovation and operational efficiency.

"Through the many accelerator programs available in the Indonesian landscape today, it is hoped that the Zenith Accelerator program will not only provide insight and resources, but also encourage innovation and dynamic collaboration between startups and the Mandiri Group ecosystem," he concluded.