“To KVB, mentoring students and startups founders – the ones who develop ideas and at their early stage – is important. It is about driving inclusion and aligned with KVB soul: Grow With Impact.”
KVB took part being mentors at the Startup Academy by COMPFEST 11 by Fasilkom UI (Universitas Indonesia) at Gojek Headquarters, 7th July 2019 and 14th July 2019. KVB had the pleasure to meet and share few thoughts to two teams: Idea Inc. and EndorseGo.
Let’s learn about COMPFEST first
COMPFEST is the largest annual IT event held by students of the Faculty of Computer Science, University of Indonesia and aimed at creating impact through the Academy, Competition, Seminar and Main Event. In 2019, COMPFEST set “Igniting Technological Awareness on Facing the Hyperconnected Era” as a big theme.
COMPFEST has purposes of developing and increasing awareness of technology in Indonesia in the hyperconnected era. COMPFEST gathered more than 11,500 people, more than 188 startups, and more than 36 speakers. The mission is to facilitate, mobilize, and build enthusiasm for the development of information technology in Indonesia through a series of Events, Academy, and Competition. COMPFEST has values of being collaborative, innovative, impactful.
The mentoring model was effective as one mentor had one team as mentee. It was not a one way sharing session, but session that involved discussion with mutual feedback.
What the mentoring session was about: Tips for Early Stage of Startups Founders
- Optimizing social sciences to grow tech business, for example understanding business landscape, talent management and employer branding, branding for tech companies, consumers behaviour in the new economy and product fit in, leadership.
- You can create interesting company name and logo as the visual identity. But, your business model matters – especially the ones with positive impact to the ecosystem – and your revenue matter .
- Brand is beyond awareness. Brand is about credibility within yourself, team, network, consumers, regulators, media and so on
- Rebranding may be needed to stay relevant and have market fit, as market, business and ourselves change.
- With there are number of players in the same industry, differentiation plays vital role. Differentiation creates market preference.
One last point. When applying the five points, time is essential. It is important to pick when the right moment is.
Written by Bernhart Farras and Alifia Amri
Edited by Dian Noeh Abubakar