• CROWDO was honoured to be selected by the World Economic Forum as one of ASEAN’s top innovative startups based on its innovation in AI and impact in Indonesia.
• The Forum centred around Entrepreneurship and the Fourth Industrial Revolution creating meaningful connections between Startups and world leaders.
• Indonesia was well represented by President Widodo, Finance Minister Sri Mulyani with other international leaders including Lee Hsien Loong, and Aung San Suu Kyi.
On September 11-13 2018, 27th World Economic Forum held in Hanoi, Vietnam. At the event which was attended by various heads of state and renowned companies, CROWDO was chosen to be one of ASEAN's leading innovative startups. CROWDO as one of the promising startup companies in ASEAN, was specifically selected to join the WEF 2018 to explore strategies that support entrepreneurship and overcome the most pressing challenges in the region.
CROWDO believes that innovation in Artificial Intelligence in creating digital credit profiles for un (der) banks in emerging markets such as Indonesia is a key consideration to be chosen as part of this prestigious event. With AI adoption, CROWDO not only proven as an innovative startup but also help to disperse economic growth in Indonesia.
(CROWDO Co-Founder and Group CEO in front of the WEF welcome board)
Day 1 – Startup Program
The first day of the startup programs started with a panel discussion by representatives from the World Economic Forum including Industry Leaders and Policy Makers.
(From left to right: Klaus Schwab, Founder and Executive Chairman World Economic Forum; Rudiantara, Minister of Communication and Information Technology of Indonesia, Nena Stoiljkovic, Regional VP of the International Finance Corporation; Franky Widjaja, Chairman and CEO of Sinar Mas Agribusiness and Food; John Riady, Group Executive Director, Lippo Group)
This panel gave us information about how policymakers encourage entrepreneurship and innovation, hearing from Founders who had beat the odds to become successful was really empowering. Moreover, this panel centring around why entrepreneurship and innovation with questioning about are it possible and how policymakers and large institutions are trying to do their part to encourage it.
The following panel was by established entrepreneurs and entrepreneurs turned investors. (From left to right: Pravan Malhotra, Principal Investment Officer, IFC; Patrick Grove, Co-Founder and CEO of Catcha Group; Paul Bragiel, Founding Partner of Bragiel Brothers; Huang Dinglong, Co-Founder and CEO of Malong Technologies)
Hearing from founders who had beat the odds to become successful was really empowering. The street creds this group brings as well as the extreme hardships that they went through was a real morale booster for all of the founders listening to the panel.
Day 2 – Official Program
(Photo: President of Indonesia, Joko Widodo)
The day 2 plenary session started with the ASEAN heads of states giving speeches about “ASEAN Priorities in the Age of the Fourth Industrial Revolution”. It was especially impressed by President Widodo’s unconventional speech about competition and innovation and how trade wars solve nothing.
ASEAN, including Indonesia, will be at the forefront of the 4.0 Industrial revolution. He asserted to go in that direction, we must first prevent the trade war to become an 'infinite war'. An unlimited war 'is not only about trade war, but about all of us to re-learn in history, that with creativity, energy, collaboration and partnership, we as humans can enjoy 'abundance', and we can produce not' unlimited war 'but' an unlimited source.
(Photo: Prime Minister of Singapore, Lee Hsien Loong) It was very clear that Singapore was a successful case study for successful innovation and a model that many ASEAN states were looking to emulate and locally adopt. There were many multi-country initiatives introduced as well.
On the other hand, Aung San Suu Kyi, State Counselor of Myanmar admits some imbalance in gender representation. As an impressive and powerful figure, Aung San Suu Kyi conveyer optimism for her country’s progress in technology and talent was noteworthy.
(From left to right: Leo Shimada, Co-Founder and CEO of CROWDO; Ha Lam, Co-Founder and CEO of Trip; Yuen Tuck Siew, CEO of Jirnexu)
The last but not the least, it was great to connect to all of the impressive founders from startups across ASEAN. The excitement of doing something innovative and the sense of bonding forged through the hardships everyone experiences was an extremely empowering.
CROWDO is an Artificial Intelligence powered marketplace for lending and investments. Its mission is to connect emerging market micro merchants and MSMEs with a global community of Investors. With a robust track record of returns and industry low NPLs, it is becoming a choice partner for Institutional Investors seeking to participate in emerging market debt investment opportunities.
[About The World Economic Forum]
The World Economic Forum (WEF) is a Swiss non-profit foundation, based in Switzerland. Recognised in 2015 by the Swiss authorities as an "other international body" under Switzerland's Host State Act 2007 (HSA, SR 192.12), its mission is cited as "committed to improving the state of the world by engaging business, political, academic, and other leaders of society to shape global, regional, and industry agendas".