Under its “Grab 4 Indonesia” 2020 master plan, Southeast Asian ride-hailing platform Grab will launch a social impact investment fund.
The ‘Grab 4 Indonesia’ fund will invest up to $100m in companies focused on deepening financial inclusion across all cities and income levels in Indonesia.
The fund will focus on the mobile and financial services industries, with a particular emphasis on serving smaller cities and communities who have yet to benefit from the digital economy, helping entrepreneurs accelerate their products to market with both capital investment and technical assistance from Grab.
In support of the “1,000 Digital Startups National Movement” initiated by the Government of Indonesia, Grab will also organize a series of entrepreneurship programs in collaboration with selected partners including educational institutions and entrepreneurship organisations.
This will include seminars for aspiring entrepreneurs and mentorship from executives on developing sustainable business plans with social purpose.
Via the plan, endorsed by Badan Koordinasi Penanaman Modal (BKPM), the Government of Indonesia’s Investment Coordinating Board, Grab will invest $700m in Indonesia over the next four years to support Indonesia’s goal of becoming Southeast Asia’s largest digital economy by 2020.
“Grab 4 Indonesia” covers a range of programs that aim to provide all Indonesians an opportunity to move into the digital economy, including opening a Grab R&D centre in Jakarta to develop technology innovations for the Indonesian market, expanding the access to mobile payments and financing opportunities and launching of the fund.
FinSMEs
06/02/2017