Telstra Ventures and PT Metra Digital Investama (MDI), Telkom Indonesia’s corporate venture arm, have signed a MoU to jointly explore investment opportunities in the rapidly growing technology start-up sector in South East Asia.
Telstra Group Executive, International and New Businesses, Cynthia Whelan said this MOU further cements the partnership between Telstra and Telkom, and opens up opportunities for shared growth in the region.
“Over the past five years, Telstra Ventures has invested over A$200 million in more than 30 different technology companies, giving us access to new revenue streams and cutting edge technology we can use in-house and provide to our customers,” said Ms Whelan.
“Our ventures investments are increasingly occurring in Asia and we are very excited to be collaborating with Telkom to identify the best new emerging technology companies in the region.”
“With the entrepreneurial talent across South East Asia and a population of 600 million people, including some of the heaviest users of social media and mobiles in the world, this a great time to be working more closely with Indonesia’s biggest telecommunications company on investment opportunities. There are many emerging technology start-ups in the region, including in areas like e-commerce, e-health, the Internet of Things and fintech.
“Through our existing joint venture with Telkom, telkomtelstra, we have seen the pace with which new businesses are reaching scale in response to the digital transformation of the economy and the fact that the middle class in this part of the world is expected to double over the next decade,” added Ms Whelan.
Telkom Indonesia Director, Digital and Strategic Portfolio Pak Indra Utoyo, said the MOU will give Telkom access to Telstra’s experience and existing relationships in global start-up centres in Silicon Valley, China and Israel, coupling them with Telkom’s unparalleled expertise in the Indonesian market.
“Over the last two years, Telkom and Telstra have established a good relationship, bringing network applications and services to businesses in Indonesia through our joint venture, telkomtelstra.”
“Today, our continued partnership extends to collaborating on venture opportunities in the region, where we will again leverage both Telkom and Telstra’s deep local expertise as well as experience in global ventures investments,” added Pak Indra.