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Amatil X accelerates into Indonesia

Coca-Cola Amatil today announced its corporate venture capital platform Amatil X would establish operations in Indonesia to help accelerate local startups and build entrepreneurial capability.

Coca-Cola Amatil today announced its corporate venture capital platform Amatil X would establish operations in Indonesia to help accelerate local startups and build entrepreneurial capability.

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.

Group Managing Director Alison Watkins said data from CB Insights suggested an influx of startup funding in Indonesia between 2013-2018, to USD$7.88bn last year. This represents CAGR growth of 147% over five years.

“There is rapid growth in start-up and venture capital funding in Jakarta, and we aim to be part of that trend,” Ms Watkins said.

“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.”

“We aim to harness that growth to deliver technology solutions for customers and consumers, including in on-demand delivery and in-store analytics.

“This will benefit Amatil in Indonesia, Australia and across the region.”

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

Amatil X will scout for startups that address Coca-Cola Amatil’s business priorities in:
  • on-demand delivery,
  • distribution optimisation,
  • in-store analytics, and
  • sustainable packaging.
The program will commence operations this month (April 2019) with a pilot partnership between Coca-Cola Amatil Indonesia and Digitaraya, an established local accelerator program powered by Google Developers Launchpad, to support their FMCG cohort.

The Amatil X Academy
Amatil X today also announced the establishment of 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% of Indonesian millennials are interested in becoming entrepreneurs,” Ms Watkins said.

“Through the Amatil X Academy, we will identify our intrapreneurs 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.

"At BlueChilli, our mission is to help people anywhere solve society's greatest challenges with technology," said 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."

Amatil X Indonesia will cover:
  • Amatil X Academy - flagship internal program to build entrepreneurial capability
  • Strategic partnerships - pilot partnership with leading local accelerator Digitaraya to connect with the local startup ecosystem
  • Scout - scout for startups to address today’s business challenges or create growth opportunities for tomorrow, as well as investment opportunities.