Hundreds of Startup Investors Gather in Bali


Bali is flooded with investors! Hundreds of startup investors from various countries gathered at the Nexticorn International Summit 2022 in Nusa Dua, Bali on Wednesday (31/8/22). They aim to find tech startup companies from Indonesia to be their investment targets.

The chairman of the Nexticorn Foundation, Rudiantara, who is also a former minister of communication and information technology, revealed that the Nexticorn committee received around 3,000 requests for investment exploration meetings, both submitted by around 150 investors and those from startups.

Of the 3,000 requests, there have been 1,200 confirmed meetings. However, the number of investment meetings is expected to soar during the three days of the event.

Rudiantara explained that the Nexticorn International Summit 2022 event was the fourth Nexticorn event and was first held in 2018. However, the annual series of events was interrupted by the pandemic.

“This year we held it because many [foreign investors] asked, asking for it to be held. So we held it,” he said.

It was further revealed that the NXC 2022 has differences from the previous edition. The first is on more stringent requirements.

“Why? Because investors’ mindsets have started to change, from what they might have thought three years ago was traction, how many customers increased, and how many applications were downloaded. Now they are more focused on road to profitability,” said Rudiantara.

According to him, investors have different orientations. They focus more on cash flow when it is positive.

This year, the Nexticorn conference will focus on highlighting the Web3 industry, namely businesses related to blockchain technology including crypto assets, NFT, and the metaverse.

Rudiantara admits that the number of Indonesian startups engaged in Web3 is still very small. The reason for choosing the Web3 theme is the many questions from global investors about the Web3 ecosystem in Indonesia.

The Web3 theme, strictly speaking, was only the focus during the conference. Meanwhile, startups that come to Bali to meet investors are engaged in more diverse industries and all of them are already in the growth stage (having passed the series A funding stage).

“We hope that by exhibiting Web3 technology, not only foreign investors but also domestic startup founders will be more interested in [establishing a Web3 company]. We also invite Balinese students and students to witness the existing technology for themselves,” said Rudiantara.

The speakers will not only present because there will be an exhibition that can be felt directly to get to know Web3 better. And this is the fourth difference from the previous Nexticorn.

“There will be a one-day conference on Web3, then a three-day exhibition in Bali,” said Rudiantara.

The NXC International Summit 2022 will be held in Nusa Dua, Bali. The event itself runs from August 31 – September 2, 2022.