Get All Access for $5/mo

Australia's Largest Beverage Company Scouts for Startups with X Factor in Indonesia Coca Cola Amatil aims to leverage local startups and build entrepreneurial capability in the ecosystem

By Komal Nathani

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur Asia Pacific, an international franchise of Entrepreneur Media.

Pixabay

Australia-based food and beverage company, Coca-Cola Amatil, has announced that it will establish its operations in Indonesia through its corporate venture capital (CVC) fund,Amatil X. The firm aims to leverage local startups and build entrepreneurial capability in the ecosystem.

"The move 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," says the firm in a press statement.

Indonesia –a Hotbed for Startups

Citing the figures of Indonesia's growing start-up ecosystem and venture capital funding, group managing director Alison Watkins says, "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."

Launched in April 2018, Amatil X already has its operations in Australia and New Zealand. It includes a multi-million dollar venturing fund, which has already invested in two startups, Doshii and TabSquare.

The firm will be scouting for startups that are involved in on-demand delivery, sustainable packaging and in-store analytics.

The VC program will commence operations this month with a pilot partnership between Coca-Cola Amatil Indonesia and Digitaraya, an established local accelerator program powered by Google.

Amatil X Academy

The F&B giant has also announced its flagship program The Amatil X Academy – an internal program to build entrepreneurial capability powered by venture studio and innovation group, BlueChilli.

"Research suggests that 70 per cent of Indonesian millennials are interested in becoming entrepreneurs," says Watkins.

"Through the Amatil X Academy, we will identify our entrepreneurs and give them the opportunity to develop their ideas through a structured internal accelerator program."

BlueChilli CEO Sebastien Eckersley-Maslin said he was thrilled to extend the partnership with Coca-Cola Amatil, which was part of the venture studio's broader expansion plans for South East Asia this year.

"We want to help people anywhere solve society's greatest challenges with technology," says Eckersley-Maslin. "As part of this, we are committed to helping world-class organisations like Coca-Cola Amatil embrace the lean startup methodology, so they can better adapt to disruptive shifts, innovate rapidly and transform their business for the future," he adds.

Komal Nathani

Former Correspondent, Entrepreneur Asia Pacific

A firm believer of hard work and patience. Love to cover stories that hold a potential to change the momentum of business world. Currently, a part of all-women web team of Entrepreneur’s Asia Pacific edition to jig the wheel of business journalism!

Business News

I Tried Buying a Car on Amazon. Here Are the Pros and Cons.

Amazon Autos just launched, and users can buy a new car online. Here's how it works and what needs to improve.

Business Ideas

63 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.

Business News

Alexis Ohanian Says This Is His Best Investment So Far: $10,000 Turned Into More Than $17 Million

Ohanian has backed 40 unicorns, but one investment stands out the most.

Business News

Amazon Pulls Merch Celebrating Alleged UnitedHealthcare CEO Killer Luigi Mangione

Apparel and home goods featuring the phrase "deny, defend, depose" have been pulled from Amazon.

Business News

Barbara Corcoran Says the Best Entrepreneurs Are Good at This One Thing

Real estate entrepreneur and investor Barbara Corcoran says a few key traits prove effective when starting a business. Here's her top pick.