Coca-Cola expands venture capital platform to Indonesia

By Rachel Arthur contact

- Last updated on GMT

Amatil X Indonesia will include an internal accelerator to help Coca-Cola's 'intrapreneurs' develop their ideas. Pic:getty/andresr
Amatil X Indonesia will include an internal accelerator to help Coca-Cola's 'intrapreneurs' develop their ideas. Pic:getty/andresr
Coca-Cola Amatil will expand its corporate venture capital platform Amatil X to Indonesia, seeking to capitalise on Jakarta’s growing reputation as ‘the next start-up capital of South-East Asia’.

Amatil X launched a year ago​ in Australia and New Zealand, and includes a multi-million dollar venturing fund which has invested in digital startups Doshii and TabSquare.   

The programme is now expanding into Indonesia this month, saying it wants to be part of rapid growth in start-up and venture capital funding.

Focus on in-store analytics and sustainable packaging

Amatil X expanding into Indonesia this month, with a pilot partnership between Coca-Cola Amatil Indonesia and Digitaraya, an established Indonesian accelerator powered by Google Developers Launchpad.

Amatil X is looking for startups which tie-in with Coca-Cola Amatil’s business priorities: notably on-demand delivery, distribution optimisation, in-store analytics and sustainable packaging.

There has been an influx of start-up funding in Indonesia over the last five years, reaching $7.88bn USD last year and representing CAGR growth of 147%.

Alison Watkins, group managing director, Coca-Cola Amatil, said: “There is rapid growth in start-up and venture capital funding in Jakarta, and we aim to be part of that trend.”

“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.”

Watkins added that, by investing in technology solutions, it can benefit Amatil in Indonesia, Australia and across the region.  

Amatil X Indonesia will focus on three priorities:

• Amatil X Academy – a flagship internal program to build entrepreneurial capability, allowing Coca-Cola’s ‘intrapreneurs’ to develop their ideas through an internal accelerator. This is being powered by venture studio and innovation group BlueChili.

• Strategic partnerships - with a pilot partnership with 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 the future, as well as investment opportunities.

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