East Ventures, an Indonesia-focused venture capital firm, has on Thursday launched a white paper “Genomics: Leapfrogging into the Indonesian healthcare future”.

This white paper is presented by East Ventures in collaboration with the Ministry of Health of the Republic of Indonesia and Redseer Strategy Consultants, to provide a comprehensive understanding of how genomics can improve the healthcare system in Indonesia, East Ventures said in a statement.

According to the statement, this white paper serves as a guide for stakeholders in taking the necessary steps to improve our healthcare system and infrastructure for the future.

“So in every crisis, you can see from a dangerous angle, and there will also be a great opportunity for us to move forward. That’s why the Ministry of Health of the Republic of Indonesia sees this as a good opportunity to do major reform, and we have designed six major reforms,

“One of them is to reform healthcare technology, including biotechnology. That is where I believe East Ventures can play a role, to see the windle of opportunity during the crisis and leapfrogging into the new era of the healthcare system in Indonesia,” said Budi Gunadi Sadikin, Minister of Health of the Republic of Indonesia.

According to the statement, Most of Indonesia’s population, which is currently young, is expected to age rapidly and potentially burden the healthcare infrastructure.

To mitigate the potential health crisis, genomics can be an alternative to providing preventive care and precision medicine solutions.

With its applications in medicine and biotechnology, genomics can lead to new treatments and therapies, new products, and technologies. As the field evolves, it can potentially transform the healthcare ecosystem.

Indonesia has just started its genomics journey and is on the right track. This could potentially unlock $100+ billion worth of economic benefits.

The Indonesian government has laid out the objectives for its genomics study, which align with its healthcare needs. Moreover, prominent progress has been made; one of them by establishing a national body, the Biomedical & Genome Science Initiative (BGSi), in August 2022, which East Ventures supported as one of the donors.

“We are elated to continue collaborating with the Ministry of Health of the Republic of Indonesia in presenting this white paper,

“A healthy population is one of the nation’s most important assets, and we are committed to taking an active role in supporting the development of the Indonesian healthcare journey, We hope this white paper provides the necessary insights to support the genomics journey in Indonesia,” said Willson Cuaca, Co-Founder and Managing Partner at East Ventures

Since the early days, East Ventures has been confident in the potential of genomics technology to revolutionize Indonesia’s healthcare system and infrastructure.

While genomics-related investment is relatively nascent, East Ventures has demonstrated its confidence in the sector since 2018 through its portfolio of genome sequencing-focused startups like Nalagenetics and Nusantics.

“We believe this technology will be instrumental in improving Indonesia’s medical diagnosis, treatment, and prevention of severe diseases. We will double down on our investments in this sector,” Willson added.

As part of its commitment to Indonesia’s healthcare progress, East Ventures has also also announced its support in the incubation program for startups and innovators in the healthcare space with Digital Transformation Office at the Ministry of Health, named “Health Innovation Sprint Accelerator 2023 in collaboration with East Ventures”.

This program is aimed to advance healthcare quality through innovation in healthtech and biotech in Indonesia.

Startups can apply to get opportunities to pitch ideas and innovative products to the government and relevant stakeholders, including investors and academicians. Ten winners of this program will receive grant funding of IDR 250 million ($16,543) to jumpstart their idea and other exclusive benefits.

East Ventures is a pioneering and leading sector-agnostic venture capital firm.

Founded in 2009, the firm has transformed into a holistic platform that provides multi-stage investment, from Seed to Growth stage investments, for over 250 tech companies across Southeast Asia.

As an early believer in the startup ecosystem in Indonesia, East Ventures is the first investor of Indonesia’s unicorn companies, namely Tokopedia and Traveloka.

Other notable companies in East Ventures’ portfolio include Ruangguru, SIRCLO, Kudo (acquired by Grab), Loket (acquired by Gojek), Tech in Asia, Xendit, IDN Media, MokaPOS (acquired by Gojek), ShopBack, KoinWorks, Waresix, and Sociolla.

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