Startup Lokasoka, Kemenkop UKM, and IPB University Expand Business Ecosystem in the US

Lokasoka, as an Indonesian startup delegation, together with the Ministry of Cooperatives and Small and Medium Enterprises (Kemenkop UKM) expanded the business ecosystem in the United States (US) through a series of strategic Business Matching and Trade Forum programs.

The event, which took place at the Embassy of the Republic of Indonesia (KBRI) in Washington DC, provided an opportunity for US business people to interact and establish connections with Lokasoka. 

The event began with a Knowledge Forum organized by the World Bank and attended by the Minister of Cooperatives and SMEs, Teten Masduki. In opening the event, Teten said that many innovations have been made by local Indonesian businesses. He also gave directions for all collaborators present not to hesitate in exploring various product needs ranging from agriculture, arts and crafts and sustainable products. 

The event was closed with a bang with the WOW Indonesia Festival which allowed participants from outside Washington DC to transact directly and build networks.

As a startup ecosystem platform, Lokasoka has long established cooperation with the United States. One of the key moments was when Lokasoka received Gender-Lens Funding from Australia through the US Agency for International Development (USAID) and Athena Global US during the pandemic, which strengthened bilateral diplomatic relations between Indonesia and the US.

In addition to focusing on expanding the business ecosystem in America, Lokasoka also introduced several environmentally friendly products from IPB University innovations, such as ecoprint, organic care products, and non-woven palm fiber crafts. These products attracted significant interest from several American partners.

“Accessing the global market requires some adjustments, from product categories to branding, because the market segment is different compared to the local market. Lokasoka is a strategic partner in helping Indonesian products enter the international arena and opening up opportunities for cooperation with various parties,” said Laras Widyaputri, CEO of Lokasoka.

“Of course, with the business portfolio that Lokasoka has built where we have consistently helped thousands of local SMEs connect with markets in 14 countries, purchased directly by B2B and B2G buyers,” she added.

Prof Erika Budiarti Laconi, Chief of IPB University’s Science and Technology Area Institute (LKST) added, Lokasoka is one of the inwall startups that has an important role in bridging and preparing IPB University’s innovation product standards. 

“Buyers and investors may not fully understand the potential if they directly see our work. With a platform like Lokasoka, as well as an ecosystem that has been built solidly and comprehensively through IPB University’s Science and Techno Park, we have succeeded in attracting various parties to work together to support IPB University’s innovations,” continued Prof Erika.

Lokasoka explored several potential partnerships, including business expansion with Asian American associations and US diaspora networks, market validation for sustainable ethnic fashion, healthy food, and eco-friendly crafts. In addition, they also explored opportunities for cooperation in supply chain and funding networks with Indo-US partners as well as brand exploration and market partnerships with agencies in the US, Asia and Europe.

Irwansyah Pandjaitan, Assistant Deputy for Business Ecosystem at the Ministry of Cooperatives and SMEs said, “E-Hub Go Global is not just a jargon, but a tangible manifestation of the government’s commitment in supporting startups like Lokasoka. With one connection, we can have a significant social impact on hundreds to thousands of Lokasoka’s SME partners.”

“This is our commitment from Kemenkop UKM to expand the business ecosystem and show that Indonesian SMEs have great potential. There is nothing more satisfying for us in government than seeing our mentees grow and make a positive impact in the future according to their respective specialties,” he said. 

In addition to Lokasoka, Indonesian delegates from Klasik Beans, which focuses on empowering local farmers; Timurasa, fashion brand Restu Pratiwi, Blankenheim and Rumah Tenun Magelang were also present. (*/Rz) (IAAS/Aly)