Initiated by HASAN Venture Capital & Accelerator (HASAN VC), in collaboration with the Association of Indonesian Sharia Fintech (AFSI), the National Committee on Sharia Economics and Finance (KNEKS), and the Bank of Indonesia (BI), the event served as a platform for 18 halal startups from Indonesia, Malaysia, and Singapore to present their pioneering ideas.

Supporting Halal Innovation and Growth

More than 200 potential investors from around the world participated in this event, which has become a vital acceleration platform for these 18 innovative halal startups. HASAN VC Managing Partner Umar Munshi emphasized the significance of this event, stating, “Halal Startup Demo Day 2024 is a concrete step in supporting the growth of halal startup ecosystems in Indonesia. We hope this event can be a catalyst for the halal industry, attracting both local and international investors, and inspiring the emergence of more innovators in the halal sector.”

HASAN.VC’s investment strategy is both comprehensive and diversified, focusing on sectors that adhere to halal principles. The company is particularly attentive to the gaps in technological solutions within the halal sector, striving to build businesses that remain true to their ethical and religious foundations.

Driving Innovation in the Sharia Economy

AFSI General Chair Ronald Yusuf Wijaya highlighted the potential of the startups showcased, noting that they are poised to become pioneers in the creative and sharia economic industries. “Our role at AFSI is to introduce these halal startups to investors who may not have previously recognized their potential. We hope that through this platform, investors will become more actively involved, increasing capital injections and supporting growth and innovation within the halal ecosystem,” he stated.

Putu Rahwidhiyasa, Director of Sharia Business and Entrepreneurship at KNEKS, added, “Startups and innovative sharia businesses are essential for sustainable economic growth, job creation, and enhancing Indonesia’s global competitiveness. KNEKS is committed to supporting this event and appreciates the contributions of all parties involved. We invite everyone to collaborate in strengthening Indonesia’s halal startup ecosystem.”

Opportunities for SMEs and Sustainable Economic Growth

Bank Indonesia’s Director of the Department of Sharia Economics and Finance (DEKS), Rifki Ismal, emphasized the opportunities this event provides for SMEs. “This event opens doors for SMEs to access funding from present investors, allowing them to grow sustainably and contribute significantly to the economy. Bank Indonesia consistently supports the digitization of SMEs in the sharia financial sector, fostering an inclusive and sustainable digital financial ecosystem,” he explained.

The startups featured at Demo Day 2024 showcased a range of innovations catering to the unique needs of halal lifestyles. These included animation and advertising studios, AI-based Quran learning applications, technology-driven takaful aggregators, and specialized apps for people with disabilities. These solutions not only align with current market trends but also resonate with Indonesia’s national strategy to become the global hub of the sharia economy.

Global Competitiveness and Future Prospects

The success of HASAN Demo Day 2024 underscores the maturity of Indonesia’s halal startup ecosystem, proving its readiness to compete on the global stage. The collaboration between government, industry players, and startups is pivotal to the development of a sustainable halal industry. With continued support, Indonesia’s halal startups will further evolve, contributing to economic growth and the enhancement of societal welfare.

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