economy

AchmadZaky's Brainchild, Init6, Is Making Investments In The Fields Of Healthcare, Education, Consumer Goods, And Climate Technology

Init-6, the Venture Capital company founded by Achmad Zaky, is set to actively expand in 2024 by targeting startups in the healthcare, education, B2B, climate tech, and consumer industries. One of the criteria for the targeted businesses is a strong business model that shows substantial growth potential in the future.

Being one of the most active VCs in 2023, Init-6 is satisfied with its performance in 2023 with several portfolios showing healthy business performance and attracting investors from both regional and global markets. Some of them include dibimbing.id, with the Dibimbing Indonesia Foundation, which is expected to launch a university called Cakrawala University soon, Imajin, a startup focused on the online manufacturing market, Gently in the consumer and baby products domain, which recently received an award for significant business growth, and Qiscus, which provides support for sales and loyalty programs through automation technology.

AchmadZaky, the Founding Partner of Init-6, said, "Init-6 is growing so fast. In just over 3 years, we have invested in more than 35 portfolios across sectors and collaborated with over 50 founders in our ecosystem.

This year, we aim to grow our portfolio to more than 40 startups. Our dream for Init-6 is big. We want Init-6 to be a partner that helps these startups expand and grow significantly. We want the Indonesian technology industry to be recognized regionally and globally."

Echoing the same sentiment, Rexi Christopher, Venture Partner at Init-6, also said, "Of course, the investment amount in 2024 will increase along with the growth of the industry and market."

Our portfolio is curated very selectively, prioritizing business growth criteria that are not solely dependent on large capital expansion. With our experience, we want to be keen in identifying existing opportunities.

Zaky doesn't deny that recently the industry has also faced the phenomenon of unsuccessful startups, and that risk factor will always be there. According to him, having in-depth research and understanding market readiness is also crucial.

Founders need to know when to make decisions to launch products/services, set the right prices, when to make investments, expand, and compete. Additionally, business competitiveness is equally important.

He adds that trial and error and beta testing are still very much needed. Often, startups that haven't reached profitability and heavily rely on investment injections are tempted by expansion and unnecessary spending, which can impact the health of the startup. Ultimately, startups with strong business models will survive.

Tag: Achmad Zaky