Coca-Cola Amatil (CCA), one of Coca-Cola’s major bottlers, has announced that it will establish its operations in Indonesia through its corporate venture capital (CVC) fund, Amatil X. The firm aims to engage with local start-ups and build entrepreneurial capability in the ecosystem.
“The move aims to capitalise on Jakarta’s fast-growing reputation as the next start-up capital of South-East Asia in terms of number of deals and size of investment”, says the Australia-based food and beverage firm in a statement.
Amatil X already has operations in Australia and New Zealand since its launch in April 2018. It includes a multi-million dollar venturing fund, which has already invested in two start-ups, Doshii and TabSquare.
Alison Watkins, the group managing director, said that there is massive growth in the food and beverage sector where consumer trends and technology are merging; citing the figures of Indonesia’s growing start-up ecosystem.
The firm will be scouting for start-ups that are involved in on-demand delivery, sustainable packaging and in-store analytics.
The venture capital program is planned to commence operations this month with a pilot partnership between Coca-Cola Amatil Indonesia and Digitaraya, an established local accelerator program powered by Google.
The F&B goliath has also announced its flagship program The Amatil X Academy. This is an internal program designed to build entrepreneurial capability. The program will be powered by venture studio and innovation group, BlueChilli.
“Research suggests that 70 per cent of Indonesian millennials are interested in becoming entrepreneurs”, says Watkins. “Through the Amatil X Academy, we will identify our entrepreneurs and give them the opportunity to develop their ideas through a structured internal accelerator program”.
BlueChilli CEO Sebastien Eckersley-Maslin expressed his delight at the partnership with Coca-Cola Amatil. He also reiterated BlueChilli’s commitment to helping world-class organisations like Coca-Cola Amatil embrace the lean start-up methodology.