Funding match made in heaven
JAKARTA, 16 NOVEMBER 2017 – United Nations Development Programme (UNDP) Indonesia supported by the Government of Canada, Amazon Web Services and Angel Investor Network (ANGIN) launched Connector.ID, an online matchmaking fund intended to connect entrepreneurs in the country with possible investors. UNDP supports the Connector.ID as a contribution to the Sustainable Development Goals (SDGs) by fostering entrepreneurship and providing small and medium-sized companies’ access to financial services. Together with UNDP, this platform aims to also discover and support enterprises that incorporate SDGs into their business.
It is estimated that the global finance gap to meet SDGs is estimated at $2.5 Trillion and therefore, a business-as-usual approach to attract funding and to expand awareness of this urgency is no longer relevant. With the partnership from ANGIN and Creative Economy Agency (BEKRAF), Connector.ID is introduced to address the need to provide a transparent, efficient and fast solution to support entrepreneurs in accessing relevant capital. It is online, it is easy to navigate and it is a virtual meeting point for both entrepreneurs and capital providers to meet and explore possible ways to interact and support each other.
“UNDP Indonesia means business in financing the SDGs. We believe in changes and we believe there are new avenues to be explored. Connector.ID signifies the importance of multi-stakeholder partnership in financing SDGs and the importance to create a more appealing ecosystem for Indonesian entrepreneurs,” said Christophe Bahuet, Country Director UNDP Indonesia.
According to a research done by UNDP and ANGIN with the support from the Government of Canada in 2016, there are three categories of social enterprises in Indonesia: un-fundable, potential-with additional support and investment ready. Currently, 20 percent of social enterprise is at potential-with additional support stage. Therefore, beyond bridging the capital, Connector.ID also aim to create knowledge hub with essential learning materials from practitioners and individuals to help Indonesian entrepreneurs better engage with capital providers.
SDGs, are a universal call to action to end poverty, protect the planet and ensure that all people enjoy peace and prosperity. These 17 Goals build on the successes of the Millennium Development Goals, while including new areas such as climate change, economic inequality, innovation, sustainable consumption, peace and justice, among other priorities. UNDP Indonesia together with government, academe, private sector, civil society and citizens are committed to achieve the goals by 2030
Head of Communications Unit UNDP