As part of its Project AsiaForward initiative, the Alibaba Cloud x KrASIA Global Startup Accelerator brings together new technologists, venture capitalists, and other players across Asia to identify startups that are compatible with Alibaba’s ecosystem. The accelerator kicked off the Indonesia Demo Day on October 7, with representatives from Alibaba Cloud, Indogen Capital, and Venturra Discovery evaluating presentations made by ten finalists who operate in a range of industries, from sustainable packaging to education. After much deliberation, KrASIA is excited to announce Koinpack as the Country Star of the Indonesia Demo Day!
Leon Chen, the general manager of Alibaba Cloud in Indonesia, Malaysia, and Vietnam, spoke about Alibaba Cloud’s commitment to supporting the region’s digital transformation. The accelerator program is part of Alibaba Cloud’s recognition that Asia is in its golden age of digital innovation.
Bintang Ekananda, the director and co-founder of Koinpack, explained the startup’s goal to transform the conventional linear business model of recycling into a circular business model and limit the usage of single-use plastics. Koinpack developed a returnable and reusable packaging system and implements a deposit and reward model for FMCG companies. This solution reduces plastic waste for daily goods like soap, detergent, shampoo, and food packaging.
According to Ekananda, Koinpack aims to replace more than 6 million consumer packaged goods by 2024, reaching more than 25,000 recurring customers and 2,000 micro-entrepreneurs. According to environment-focused publication New Security Beat, over 855 billion plastic sachets were sold worldwide in 2018, with half of them sold in Southeast Asia.
“Our social mission is to eliminate 118 million sachets in total by 2024 by educating the market for packaging reuse solutions in Indonesia and beyond”, said Ekananda.
Koinpack’s system involves collecting spent containers and cleaning them for reuse. Already, the company has partnered with household names, like P&G and Nestlé, to introduce reusable containers for these companies’ products in Indonesia.
“It is amazing to be recognized as the Country Star of the Indonesia Demo Day, rewarding the team for their hard work. This award helped Koinpack in a great way to validate our solution that we have developed over the last year for both partners and customers. We believe that Alibaba will strengthen our technology infrastructure to solve the single-use packaging problem in Indonesia,” Ekananda said.
Alibaba Cloud and KrASIA would like to thank all startups that applied to join the Indonesia Demo Day for their participation. Visit the official page to learn more about the Alibaba Cloud x KASIA Global Startup Accelerator and our programs.