Coca-Cola Amatil (CCA) has unveiled plans to bring its venture capital platform, Amatil X, to Indonesia to push growth in the start-up sector.
Amatil is banking on Jakarta’s reputation as the next start-up hub in Southeast Asia. The program will commence operations this month (April 2019) with a pilot partnership between CCA Indonesia and Digitaraya, an established local accelerator program powered by Google Developers Launchpad, to support their FMCG cohort.
Amatil X is seeking start-ups specialising in on-demand delivery; distribution optimisation; in-store analytics and sustainable packaging.
CCA group managing director Alison Watkins said that from 2013 to 2018 there has been a surge of investments in start-ups, reaching to US$7.88 billion last year. This represents CAGR growth of 147 per cent over five years, according to CB Insights report.
“There is rapid growth in start-up and venture capital funding in Jakarta, and we aim to be part of that trend. We are seeing growth in the food and beverage sector where consumer trends and technology are merging. For example restaurant tech is personalising the experience for consumers and driving profitability for customers,” Watkins said.
“We aim to harness that growth to deliver technology solutions for customers and consumers, including in on-demand delivery and in-store analytics. This will benefit Amatil in Indonesia, Australia and across the region.”
The soft drinks giant launched Amatil X in Australia and New Zealand in April 2018. The multi-million dollar venturing fund has already invested in two local start-ups, Doshii and TabSquare.
Amatil X has also opened its flagship program The Amatil X Academy powered by venture studio and innovation group, BlueChilli.
“Research suggests that 70 per cent of Indonesian millennials are interested in becoming entrepreneurs. Through the Amatil X Academy, we will identify our intrapreneurs and give them the opportunity to develop their ideas through a structured internal accelerator program,” said BlueChilli CEO Sebastien Eckersley-Maslin.
“At BlueChilli, our mission is to help people anywhere solve society’s greatest challenges with technology. As part of this, we are committed to helping world-class organisations like CCA embrace the lean start-up methodology, so they can better adapt to disruptive shifts, innovate rapidly and transform their business for the future,” said Eckersley-Maslin.