Rethinking Startup Acceleration in Indonesia: The Philosophy Shift – Why Indonesia Needs a Different Kind of Accelerator

The Accelerator Conundrum is a multipart series that challenges the prevailing wisdom of the tech startup ecosystem that entrepreneurs should Blitzscale out of the gate. Written by Sramana Mitra, the Founder and CEO of One Million by One Million (1Mby1M), the world’s first global virtual accelerator, it emphatically argues that a better strategy is to Bootstrap First, Raise Money Later, focus on customers, revenues and profits. 1Mby1M’s mission is to help a Million entrepreneurs reach a million dollars in annual revenue and beyond. Sramana’s Digital Mind AI Mentor virtually mentors entrepreneurs around the world in 57 languages. Try it out!

Over the past decade, Indonesia has seen a remarkable surge in entrepreneurial activity. From fintech unicorns like Gojek and OVO to a rapidly expanding SME digitization movement, the country’s startup ecosystem has matured in exciting ways.

However, while venture capital and accelerators have fueled many of these success stories, they have also introduced a set of structural challenges that need to be addressed if Indonesia is to build a sustainable, inclusive entrepreneurial economy.

Most accelerators in Indonesia operate on a Silicon Valley venture mindset. They push startups to chase hyper-growth, raise venture funding early, and aim for unicorn exits. While this model has worked for a few high-profile startups, the vast majority of entrepreneurs simply do not fit this pattern. The result?

• Many founders end up burning out,
• Companies run out of cash, and
• Valuable businesses are prematurely shut down because they didn’t fit the “go big or go home” narrative.

This is where 1Mby1M’s philosophy is fundamentally different, as articulated in depth in my The Accelerator Conundrum blog series.

We believe in bootstrapping first, fundraising later, and sometimes, bootstrapping all the way to exit. Our goal is to help entrepreneurs build profitable, sustainable companies with capital efficiency, rather than prematurely giving away equity or chasing unrealistic growth curves.

To make this philosophy accessible to Indonesian entrepreneurs, we have introduced the Digital Mind AI Mentor, which now can mentor in Indonesian. This AI-powered mentor replicates my own thought process, strategies, and frameworks for building successful B2B SaaS, AI, and other tech businesses.

Imagine having a world class mentor in your pocket, available 24/7, guiding you through customer discovery, positioning, go-to-market strategy, and funding decisions – all in your own language. This is a game changer for Indonesia’s diverse, geographically distributed entrepreneur base, where access to high-quality mentorship is scarce outside Jakarta’s central hub.

As we explore Indonesia’s startup accelerator ecosystem in this series, we will examine why a philosophy shift is necessary – from venture-first acceleration to bootstrapped, founder-controlled growth – and how the 1Mby1M global virtual accelerator brings a digital, scalable solution to a very human problem.

Indonesia’s startup accelerator ecosystem has grown significantly over the past ten years, largely fueled by the rise of venture capital in Southeast Asia. Here are some of the key players and their focus areas:

Accelerator	Focus Areas	Funding Support	Program Length	Equity Taken	Geographic Focus
Plug and Play Indonesia	Fintech, Mobility, AgriTech	Access to VC Network	3–6 months	Equity-based	Jakarta, regional
Skystar Ventures	General tech, student founders	Seed funding	6 months	Equity-based	Jakarta
GnB Accelerator	Mobile, IoT, Consumer Tech	Initial seed funding	3 months	Equity-based	Jakarta
Mandiri Capital (MCI)	Fintech	Strategic partnerships, corporate VC	6 months	Equity-based	Jakarta
WaveMaker Labs	AI, SaaS, Deep Tech	VC-backed	3–4 months	Equity-based	Regional (SEA)
Innovesia	Social Impact, Sustainability	Mentorship only	Variable	No equity	Nationwide

Key Observations:

1. Equity-first mindset: Most programs take equity in exchange for mentorship and small amounts of capital.
2. Jakarta-centric: The majority of accelerators are heavily Jakarta-focused, leaving founders in smaller cities underserved.
3. Short program durations: Typical accelerators run for 3–6 months, which is insufficient to deeply work on product-market fit or sustainable growth strategies.
4. Funding pressure: Founders are often pushed to raise venture funding at the end of the program, even when their businesses are not ready.

While these accelerators provide networking and exposure, they tend to follow a standardized venture playbook, which is not aligned with the diverse reality of Indonesian entrepreneurship, especially in B2B SaaS, manufacturing tech, or small-scale digital ventures.

Comparing 1Mby1M with Traditional Accelerators

Criteria	Traditional Indonesian Accelerators	1Mby1M
Philosophy	“Go big or go home” venture-driven growth	Bootstrapped, profitable, sustainable growth
Equity Requirement	Typically 5–10% equity	No equity taken
Program Duration	3–6 months	12 months, renewable annually
Geographic Focus	Primarily Jakarta	100% online, nationwide, global
Mentorship Access	Limited to cohort, dependent on mentors’ schedules	24/7 via Digital Mind AI Mentor (Indonesian language supported)
Cost to Founder	Equity	$1000 annual subscription, keep all your equity; $30-$100/month Digital AI Mentor; $99/month 1Mby1M Basic – Curriculum Only
Funding Readiness	Push to raise seed round immediately	Bootstrapping-first, funding optional and later
Scalability	Limited cohort size	Unlimited, digital-first, scalable nationwide, rolling admission
Founder Autonomy	Accelerator sets pace and strategy	Founder retains full control

Summary

Traditional accelerators in Indonesia offer value through networking, investor introductions, and exposure, but they often trap founders into a narrow path: rapid scaling fueled by venture capital. This model works for a very small percentage of startups and leaves many others stranded.

1Mby1M, on the other hand, provides a non-equity, digital-first alternative. Entrepreneurs can start small, work at their own pace, and access world-class mentoring in Indonesian through the Digital Mind AI Mentor. Our model is infinitely scalable, reaching founders not just in Jakarta, but also in Bandung, Surabaya, Medan, and smaller cities across the archipelago.

Most importantly, 1Mby1M gives founders control – over their timelines, their equity, and their strategic direction.

Rethinking Startup Acceleration in Indonesia: The Future 

Indonesia is entering a new era of entrepreneurship.

The first wave of unicorns demonstrated that world-class startups can be built here. The next wave must focus on breadth and depth: thousands of smaller, profitable companies that solve real problems across industries like agriculture, education, logistics, and healthcare.

To achieve this, Indonesia needs acceleration models that are inclusive, scalable, and culturally relevant.

• Inclusive: Available to founders beyond Jakarta and major urban centers.
• Scalable: Not limited by physical cohort sizes or mentor availability.
• Culturally relevant: Delivered in Indonesian and aligned with local business realities.

1Mby1M, powered by the Digital Mind AI Mentor, is uniquely positioned to address these needs. By blending global best practices with localized mentorship in Indonesian, we aim to empower a generation of founders to bootstrap their way to success, whether or not they ever raise venture capital.

The future of Indonesian entrepreneurship does not have to be about chasing unicorns. It can be about creating thousands of strong, sustainable companies that collectively transform the economy – and that future starts with a new vision of what startup acceleration can be.

One Million by One Million (1Mby1M) is the first global virtual accelerator in the world, founded in 2010 by Silicon Valley serial Entrepreneur Sramana Mitra. It offers a fully online entrepreneurship incubation, acceleration and education resource for solo entrepreneurs and bootstrapped founders working on tech and tech-enabled services ventures. 1Mby1M does not charge equity, offers an AI Mentor in 57 languages, and offers a distinct advantage over other accelerators including Y Combinator.