Mandiri Capital Indonesia unveils Xponent program in Thailand

Mandiri Capital Indonesia (MCI), a corporate venture capital (VC) firm backed by Bank Mandiri, has unveiled its first overseas Xponent program at Money 20/20 Asia in Bangkok, Thailand. 

Money 20/20 Asia is a global event series for the global financial ecosystem and serves as a catalyst for MCI's global expansion efforts. The event brought together influential industry leaders and startups from Indonesia, Thailand, Philippines, Vietnam, Singapore, Japan, Australia, China and Hong Kong. 

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MCI's Xponent program, on the other hand, facilitates startup expansion by fostering market access and strengthening business alignment between startups and Bank Mandiri's business units. This program has engaged 95 startups across three batches, signing 12 MoUs and involving 25 business units within Bank Mandiri and its subsidiaries. 

Other programs by MCI include Xchange, an innovation benchmarking activity; Y-Axis, a platform for startups to expand their networks to investors, tech communities, state-owned enterprises and corporations and Zenith, a four-month acceleration program aimed at business growth for startups through a curriculum of mentoring, workshops and synergy creation with the Mandiri Group ecosystem. 

In addition to unveiling Xponent, MCI partnered with nine portfolio startups and Zenith finalists to showcase their products and pitch business ideas. These startups include Mekari, KoinWorks, AyoConnect, Delos, iSeller, Kecilin, Fishlog, Imajin, and AI Rudder.

"MCI's presence at Money 20/20 Asia is a pivotal moment in our journey towards regional and global expansion. The Xponent event is not just an activity, but a strategic step to integrate startups and international companies with our network," said Dennis Pratistha, chief investment officer of MCI.

"Going forward, MCI will continue to commit to strengthening the startup ecosystem in Indonesia. To solidify our position as a global VC leader, we aim to support international startups entering the Indonesia market through ecosystem and knowledge sharing." 

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