Coca-Cola Amatil’s corporate venture capital platform, Amatil X, is to set up operations in Indonesia to help local start-ups and build entrepreneurial capability. The bottler aims to capitalise on Jakarta’s fast-growing reputation as the next start-up capital of South-East Asia in terms of number of deals and size of investment.
“There is rapid growth in start-up and venture capital funding in Jakarta and we aim to be part of that trend,” said Alison Watkins group managing director at Coca-Cola Amatil. “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.
“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.”
Amatil X launched in Australia and New Zealand in April last year. It has already invested in two startups, app management company Doshii and Singapore’s restaurant technology firm TabSquare. Its Indonesian programme started this month with a pilot partnership between Coca-Cola Amatil Indonesia and Digitaraya, a local accelerator programme powered by Google Developers Launchpad, to support their FMCG cohort.
Meanwhile, Amatil X has also created the Amatil X Academy – an internal programme to build entrepreneurial capability, created via a partnership with venture studio and innovation group, BlueChilli.
“Research suggests that 70 per cent of Indonesian millennials are interested in becoming entrepreneurs,” Watkins explained. “Through the Amatil X Academy, we will identify our intrapreneurs and give them the opportunity to develop their ideas through a structured internal accelerator programme.”