MIT Solve

Basic Information

Our tagline:

Helping SMEs in Indonesia with micro-solutions for technology implementation

Our pitch:

PROBLEMS TO SOLVE

The Ministry of Cooperatives and SMEs stated that by the end of 2017, only 8% out of 59,2 million SMEs in Indonesia have utilized digital approaches to market their products. The number of SMEs that have been using technology to enhance their business process in general is even lower. This is an alarming figure considering the internet penetration in Indonesia has already reached 54,68% of all populations.

Poor management and obsolete business process that refrain SMEs to keep up with a much more tech-driven demand side contribute greatly to many of their downfall. Although many of them have tried to integrate technology, we found a few reasons why it is not showing meaningful progress:

Technology education and implementations are often too large in scale and not inclusive to non-digital natives
Hiring a dedicated, tech-skilled worker is not a priority and costly
Limited information on contextual and targeted technology implementation, which are often simple and without extra-cost
No medium for SMEs to interact and share technology best practices and knowledge with each other

SOLUTION WE PROPOSE

Instead of focusing to educate and produce technology experts, we are practicing the more inclusive angle of technology itself: as an advanced solution to enhance any domain. With this spirit, we’re building a framework delivering micro-solutions that interact with non-technology natives such as SMEs in any stage of technology comprehension can use to leverage their business process. This platform utilizes 2 main strategies so users can self-implement technology needed to improve their business:

Transaction framework using simple text messages, audio and visual recording
AI-powered progressive and predictive micro-solution planning, focusing on helping SMEs grow their business by implementing data-driven processes

HOW WILL THIS SOLVE THE PROBLEM?

IYKRA Enabler Platform allows SMEs to implement technology at their time and cost, one small solution after another. The peer-to-peer and inclusive spirit that enable them to gain practical knowledge and overcome actual challenges real-time.

This encourages small and medium-sized business owners to empower and be in a healthy competition with another, and to be on par with the dynamic local and global demands. This solution strongly supports Indonesia’s government plan to forge a substantial growth of technology implementation among SMEs.

Where our solution team is headquartered or located:

Jakarta, Indonesia

The dimensions of the Challenge our solution addresses:

Data and Decision-making
The Flex and Gig Economy

About Your Solution

What makes our solution innovative:

IYKRA Enabler Platform combines available tools and technologies as well as traditional and modern methods in order to cooperate with SMEs without being intrusive to their existing business process. For the initial stage development, we distribute physical ledgers specially designed for SMEs as a user interface for collecting and managing inventory and transaction data.

How technology is integral to our solution:

Transforming data from the physical ledger through image or audio recording utilizing computer vision and NLP
Generating business insights and managing business risks through clustering and prediction modelling
Processing and storing data on a blockchain network to ensure SMEs' data privacy and transparency

Our solution goals over the next 12 months:

Subsidizing the distribution of the first 1000 ledgers in Jakarta and West Java provinces
Successfully implementing the Enabler Platform and framework for at least 200 SMEs in targeted areas

Our vision over the next three to five years to grow and scale our solution to affect the lives of more people:

From the first stage development, the data processed from initial 200 SMEs can be the basis to illustrate grass-root market dynamics. These real-time insights can greatly support the government for contextual and targeted policy-making. We aim to scale IYKRA Enabler Platform across major islands in Indonesia to acquire an overview of SMEs financial dynamics.

The key characteristics of the populations who will benefit from our solution in the next 12 months:

Adult
Urban
Suburban
Lower
Middle

The regions where we will be operating in the next 12 months:

East and Southeast Asia

The countries where we currently operate:

Indonesia

Where we plan to expand in the next 12 months:

Indonesia

How we will reach and retain our customers or beneficiaries:

Smartphone penetration is quite high amongst SMEs in Indonesia. We utilize the basic messaging platforms for business owners to interact with our user interface daily. In addition, we still believe that offline measures are still a huge part of Indonesia's social and economic culture. Therefore, we collaborate with gig economy workers to be the agents and SME community leaders.

How many people we are currently serving with our solution:

In this prototype stage, we currently work with 10 SMEs in greater Jakarta area from designing to building the solution. These SMEs previously rely solely on the business owners' verbal knowledge without proper documentation of their business activities. Using this solution, they have basic insights of their business performance and have started to identify potential risk and loss.

How many people we will be serving with our solution in the 12 months and the next 3 years:

Within the first year of development, we aim to actively serve 200 SMEs in Jakarta and West Java areas. We plan to scale this number by 10 times. We expect to see clear business dynamics for each owner as early as 3 months. This period is crucial to provide an financial overview and prediction in order for the business owners to move ahead.

About Your Team

Partnership Potential