500 Startups, UN launch Indonesia accelerator

ImpactAim Indonesia will recruit between 8-10 start-ups that have raised seed capital or more, are serving customers, and are recognized as serving the UN’s sustainable development goals. Participants will be provided guidance on impact measurement and tailored business development.

The Jakarta-based program will take no fee or equity from start-ups and run for a span of 10 weeks. The plan is to showcase micro, small and medium-sized enterprises (MSME) to prospective impact investors globally. MSMEs are said to represent 99% of all businesses in Indonesia and contribute 60% of GDP.

The United Nations Development Programme (UNDP) set up an accelerator under the name ImpactAim last year in Armenia with support from local start-ups services providers Catalyst Foundation and Impact Hub Yerevan. Both organizations have emphasized that they see technology as a means of improving lives in disadvantaged regions.

“Imagine a world where tech unicorns and venture capitalists tackle the UN sustainable development goals,” said Khailee Ng, a managing partner at 500 Startups, said in a release. “It’s already happening, and we’re honored to be working with UNDP Indonesia to accelerate this.”

US-based 500 Startups is an active seed-stage investor in Southeast Asia via country funds focused on Thailand and Vietnam, as well as a $50 million regional fund anchored by Mavcap, Malaysia’s largest VC. Globally it has invested more than 2,200 companies via 21 funds and employs a staff of more than 100 people in 20 countries.

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• Topics
• Southeast Asia
• Early-stage
• GPs
• Indonesia
• 500 Startups
• seed
• Impact investment
• SME