The global supply chain crisis from the Russo-Ukrainian war and the tightening of policies by the Chinese government has resulted in many central banks worldwide raising their benchmark interest rates, and the capital market is more gloomy than it was in the middle of last year.
Taking these macroeconomic factors into consideration, as a venture capital firm, East Ventures will evaluate the fundamental strength of a startup business, as those with more specific goals will thrive in the future.
Under uncertain market conditions, East Ventures continues with its investment activities as usual but looks deeper into the business model and foundation of the startup.
“The market may still be gloomy, but our market appetite hasn’t changed. We’re just looking deeper at the business model and foundation. We are looking for startups that solve more specific problems and have a more targeted target market,” said Devina Halim, Principal of Investments at East Ventures in Kompas CEO on Stage, which streamed virtually, Tuesday, 18 October 2022.
Devina Halim, Principal at East Ventures, at the Kompas100 CEO on Stage
Several startups with specific problem statements and target markets are East Ventures’ recent investments, such as cold chain logistics solutions, Fresh Factory, and Superkul.
In addition, startups are also starting to think about the principles of Environmental, Social, and Governance (ESG) through digitalization. “East Ventures works with companies that solve climate issues with digital solutions. For example, startups with a circular economy business model, a recycling and collection business model, or by turning plastic into carbon,” said Devina.
On the other hand, the creative people of Indonesia are believed to be able to face the global recession next year. Creativity is considered a powerful weapon in the face of the challenging times that are predicted to occur next year.
TipTip‘s Chief of Marketing, Paulina Purnomowati, said one’s creativity would increase due to increasingly pressing needs in this challenging time.
“Challenging times have always been around, and in these conditions, creativity grows. A year after the pandemic, a global survey said many companies advanced digitally by six years. The more people struggle, the harder they’ll fight to cover their needs. So it’s like a double-edged sword,” she said.
This article is a summary of two Kompas.com articles. Read the original articles at Kompas.com  and