Telkom and Telstra Explore investment opportunity in Start-up Tech

AUGUST 08, 2016

PT. Metra Digital Investama (MDI), Corporate Venture Capital (CVC) for Telkom Group and Telstra Ventures signed a Memorandum of Understanding (MoU) in exploring the investment opportunity in various start-up tech that are currently growing in South East Asia. The sign of the MoU was conducted by President Director of PT. Mestra Digital Investama Nicko Widjaja and Group Executive International & New Business Telstra Cynthia Whelan, witnessed by Director of Innovation & Strategic Portfolio Telkom, Indra Utoyo in Jakarta, Thursday (4/8).

Director of Innovation & Strategic Portfolio Telkom Indra Utoyo welcomed the signing of the MoU, and said that the agreement will provide access to Telkom to establish relationships with the global start-up center in Silicon Valley USA, China and other countries.

"Over the past two years of cooperation, Telkom and Telstra managed to establish a good relationship, among other bringing network applications and services to business in Indonesia," said Indra Utoyo.

The cooperation between the two companies has grown into a collaboration, primarily to explore the development of business in Southeast Asia. "Telkom will continue to share its knowledge, especially regarding business practices in Indonesia, while Telstra brought its experience inqualified investment at the global level," explained Indra Utoyo.

Meanwhile, the Group Executive International & New Businesses Telstra Cynthia Whelan said the MoU is to strengthen the cooperation between Telstra and TelkomGroup while opening the opportunities for Telstra to expand the business into Southeast Asia.

"Over the past five years, Telstra Ventures has invested some 200 million dollars to more than 30 different technology companies. This has given us access to new sources of income of the company as well as cutting edge technology that we could use and provide to our customers, "said Cynthia Whelan.

According to Whelan, with many businesses and a population of 600 million people in Southeast Asia, including the majority of social media users and mobile phone users in the world, now is the right time for Telstra to collaborate with Telkom, which is the largest telecommunications company in Indonesia.

Telstra saw the opportunity, particularly in the sectors of e-commerce, Internet applications, and mobility solutions. "We are very pleased to collaborate with Telkom and be acquainted with the companies the best technology in the Southeast Asia region," said Cynthia Whelan.

Photo Caption: (Right to Left) Telkom Finance Director Harry M. Zen and the Director of Innovation & Strategic Portfolio Telkom Indra Utoyo photographed together with Group Executive International & New Businesses Telstra Cynthia Whelan, President Director of PT Metra Digital Investama Nicko Widjaja, Group Managing Director of International & New Businesses Telstra Paul Tyler and President Director TelkomTelstra Erik Meijer after signing the MoU between PT Metra Digital Investama and Telstra Investment Cooperation Association in Jakarta, Thursday (4/8). Through the signing of this MoU, TelkomGroup and Telstra agreed to jointly explore investment opportunities in the sectors of technology start-up company that is growing rapidly in Southeast Asia.