A new startup accelerator, Skala, is opening its doors in Jakarta.
It is a joint project between Salim Group’s Innovation Factory – the organization behind Block71 Jakarta – and venture capital firm Gree Ventures.
Skala will invest US$30,000 in each startup it picks, in exchange for five percent equity.
At the end of the three-month program, startups will present in front of investors at a demo day.
Gree Ventures may choose to invest in those that graduate from the accelerator.
“We have invested in companies that have been backed by Y Combinator and have learned the fundamental change that can take place by curating and guiding a handful of companies in the proper manner,” explains Gree Ventures principal Nikhil Kapur.