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New startup accelerator launches in Indonesia

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Joan Zappulla
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A new startup accelerator, Skala, is opening its doors in Jakarta.

It is a joint project between Salim Group’s Innovation Factory – the organization behind Block71 Jakarta – and venture capital firm Gree Ventures.

Skala will invest US$30,000 in each startup it picks, in exchange for five percent equity.

At the end of the three-month program, startups will present in front of investors at a demo day.

Gree Ventures may choose to invest in those that graduate from the accelerator.

“We have invested in companies that have been backed by Y Combinator and have learned the fundamental change that can take place by curating and guiding a handful of companies in the proper manner,” explains Gree Ventures principal Nikhil Kapur.

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