On Tuesday, February 27th, 2024, the Head of Program at Innovative Academy, Denny Wijayanto, attended the All Hands event organized by Bukit Vista. Denny provided insights into the business world through his experience and career in developing startups in Innovative Academy. Denny Wijayanto’s career is a remarkable tapestry of innovation and leadership. Beginning as a Finance Manager at Stranough Guitar Technology in 2008, he swiftly climbed the ranks to AVP, showcasing his financial prowess. By 2012, he had shifted to a management role at Hamaren, further honing his leadership skills. His passion for innovation led him to the Innovative Academy in 2013, guiding future change-makers as Head of the Program. Simultaneously, he delved into the tech world with PT. Stechq Robotika Indonesia as Senior Marketing Specialist, demonstrating his marketing acumen in the burgeoning robotics sector. Denny Wijayanto addressed the evolution of startup funding over the past decade and the influence of emerging technologies on investment strategies from a comprehensive perspective, drawing from his extensive experience in the field. He outlined how the startup funding landscape has transitioned from a straightforward quest for investors to a more complex environment characterized by increased scrutiny, competition, and strategic financial management. He noted that in the earlier part of the decade, around 2013-2014, the Indonesian startup scene lacked significant players, making it easier for new startups to attract investment simply based on promising ideas. This contrasted sharply with the present scenario, where the market is more saturated, and investors are cautious, given the failures and market corrections observed in the sector.
Denny pointed out that the initial ease of obtaining investment has given way to a challenging environment where startups must demonstrate not only innovative ideas but also sustainable business models and the potential for substantial growth. He highlighted the critical mistakes startups often make post-investment, such as overspending on unnecessary resources, which can lead to financial instability and operational challenges, especially during unforeseen crises like the COVID-19 pandemic. Moreover, Mr. Wijayanto discussed the varying attitudes of investors across different regions, comparing the more conservative approach of Indonesian investors with the willingness of investors from Singapore, the US, and Europe to take early-stage risks on startups showing promise and innovation. This disparity underscores the importance of understanding global investment trends and leveraging emerging technologies to meet investor expectations and navigate the competitive landscape effectively.
Denny Wijayanto shed light on common misconceptions in investing and business management he has encountered, alongside his approaches to rectifying these in his advisory roles. He delved into the prevalent fallacy among startups that securing funding should be the primary focus immediately following an idea’s conception. Mr. Wijayanto emphasized the critical error in this approach, noting that an excessive emphasis on acquiring investment can divert attention from the foundational aspect of startups: addressing a genuine market need or problem. He illustrated this point with the trajectory of startups that, upon receiving investment, might hastily expend funds on non-essential resources, thereby jeopardizing their financial stability and operational efficiency. This scenario was exemplified through the experience of Sorabel, a startup that, after securing substantial funding, over-invested in human resources from globally renowned firms, neglecting the operational and market realities that led to its financial distress.
To correct these misconceptions, Mr. Wijayanto champions a problem-first approach in his advisory roles, advising startups to prioritize the identification and resolution of a tangible market problem before seeking investment. This strategy, he argues, not only ensures a startup’s value proposition is solidly grounded in real-world demand but also naturally attracts investment from parties interested in viable, problem-solving ventures.Furthermore, Mr. Wijayanto addressed the misconception regarding the nature of investor engagement, highlighting the importance of understanding investors’ expectations and the strategic significance of timing in fundraising efforts. By contrasting the investment climates in Indonesia with those in Singapore, the US, and Europe, he underscored the necessity for startups to adapt their strategies to fit not only local but also global investment trends.
The wisdom imparted by Mr. Denny Wijayanto transcends the confines of our All Hands event, echoing through the corridors of Bukit Vista and beyond. His message is a clarion call to aspiring entrepreneurs and innovators to tread the path of meaningful problem-solving, strategic planning, and embracing global perspectives. We extend an invitation to all who wish to explore the realms of entrepreneurship and innovation to join us in our future sessions, where leaders like Mr. Denny continue to inspire and guide the next wave of industry pioneers. In aligning with our vision to inspire delight, Bukit Vista is committed to fostering an environment where learning and growth are paramount. We encourage our readers to delve deeper into the realms of property management and innovation by exploring our services and insights shared through our platforms. Let us embark on this journey together, toward a future brimming with opportunities and transformative experiences. (Author : Dea BukitVista)