$20m set for Internet firms
$20m set for Internet firms
JAKARTA (JP): Indonesia Online, a local group of Internet
companies and the parent firm of news portal Astaga!com, said on
Thursday it would allocate US$20 million in venture capital for
Indonesian Internet start-up companies.
Jonathan Morris, chief executive officer of Indonesia Online,
said the company would leverage the resources of Astaga!com to
help raise the funds, which would be used to assist entrepreneurs
in developing their Internet businesses.
"We will fund entrepreneurs with good ideas and develop them
into thriving, successful companies," he said.
Morris claimed the venture capital fund would be the first of
its kind in Indonesia.
Indonesia Online's news portal Astaga!com currently receives
over one million hits per day and has 80,000 registered users.
(cst)
JAKARTA (JP): Indonesia Online, a local group of Internet
companies and the parent firm of news portal Astaga!com, said on
Thursday it would allocate US$20 million in venture capital for
Indonesian Internet start-up companies.
Jonathan Morris, chief executive officer of Indonesia Online,
said the company would leverage the resources of Astaga!com to
help raise the funds, which would be used to assist entrepreneurs
in developing their Internet businesses.
"We will fund entrepreneurs with good ideas and develop them
into thriving, successful companies," he said.
Morris claimed the venture capital fund would be the first of
its kind in Indonesia.
Indonesia Online's news portal Astaga!com currently receives
over one million hits per day and has 80,000 registered users.
(cst)