Virtual Skill Development Facilities at K12 Level and for Professional Workers

Computer training

By John Schnobrich on Unsplash

Virtual Skill Development Facilities at K12 Level and for Professional Workers
Including computer technologies, graphic designing and the like
SectorMost major industry classification systems use sources of revenue as their basis for classifying companies into specific sectors, subsectors and industries. In order to group like companies based on their sustainability-related risks and opportunities, SASB created the Sustainable Industry Classification System® (SICS®) and the classification of sectors, subsectors and industries in the SDG Investor Platform is based on SICS.
Education Technology
Business Model Description

Provide technical expertise to establish: > B2C K12 vocational training centres to improve IT skills > B2C digital platforms for imparting technical, professional and skill development through online classes, worshops and certification programs to improve employability Examples of some companies active in this space are:

PT Hacktivate Teknologi Indonesia, founded in 2016, offers learning programs and coding bootcamp for developers. It provides full time, part time, and online program and curriculum. It raised USD 3 mn in pre-Series A round from East Ventures Pte. Ltd.; Sovereign's Capital; PT Sinar Mas Digital Ventures; AC Ventures; PT Prasetia Dwidharma; Skystar Capital; RMKB Ventures; EverHaüs. (15)

PT Cerdas Digital Nusantara, founded in 2013, operates Cakap, an online learning platform that allows direct 2-way interaction between students and professional teachers around the world to teach English, Chinese, Japanese and Indonesian language learning courses to children and adults. Cakap raised USD 10 mn in a Series B round led by Singapore-based Heritas Capital and Centauri Fund. (16)

PT Codemi Global provides an online learning platform for employees and partners, including online training, course catalog, online test, and learning reward. It serves the insurance, FinTech, financial services, real estate, mining, and retail industries. It raised an undisclosed amount in seed funding from Init 6, a fund led by Bukalapak founder, Achmad Zaky. (17)

Popskul, founded in 2020, owns and operates a skill certification platform. In 2021, it was acquired by Astronaut Technologies Pte Ltd. (a mobile-first recruiting platform) for an undisclosed amount. It also funded USD 2 mn in a pre-Series A round for Popskul (18).

Bahaso (PT. Bahaso Intermedia Cakrawala), founded in 2015, is an online language learning platform for foreign languages. Bahaso provides lessons in English, Mandarin, and any other languages with interactive content. In 2020, Bahaso reported revenue of ~USD 5 mn. (19)

Expected Impact

Provision of virtual skill development facilities to promote upskilling of the workforce and contribute to economic growth.

Indicative ReturnDescribes the rate of growth an investment is expected to generate within the IOA. The indicative return is identified for the IOA by establishing its Internal Rate of Return (IRR), Return of Investment (ROI) or Gross Profit Margin (GPM).
Market is in a nascent stage and no exits have been observed so far.
Investment TimeframeDescribes the time period in which the IOA will pay-back the invested resources. The estimate is based on asset expected lifetime as the IOA will start generating accumulated positive cash-flows.
Short Term (0–5 years)
Market SizeDescribes the value of potential addressable market of the IOA. The market size is identified for the IOA by establishing the value in USD, identifying the Compound Annual Growth Rate (CAGR) or providing a numeric unit critical to the IOA.
Increase in consumer spending on additional training: USD15.4mn- 2015; USD37.5mn- 2019 (9)
Average Ticket Size (USD)Describes the USD amount for a typical investment required in the IOA.
USD 1 million - USD 10 million
Direct ImpactDescribes the primary SDG(s) the IOA addresses.
Quality Education (SDG 4)
Indirect ImpactDescribes the secondary SDG(s) the IOA addresses.
Decent Work and Economic Growth (SDG 8) Gender Equality (SDG 5) No Poverty (SDG 1)
Sector Sources
  • (1) World Bank. 2020. The Promise of Education in Indonesia. (2) Republic of Indonesia. 2020. Indonesia's 2020-2024 National Medium-Term Development Plan (3) World Economic Forum. 2017. The Global Human Capital Report 2017. (4) Republic of Indonesia. 2019. Roadmap of SDGs Indonesia Towards 2030. (5) MoEC. 2020. The 2020-2024 MOEC Strategic Plans. (6) Kementerian Pendidikan dan Kebudayaan. 2021. Dashboard GTK. (7) BPS. 2021. Rough Participation Rate (APK) of Senior High School by Revenue Group 2019-2021. (8) Republic of Indonesia. 2021. APBN 2021. (9) The Ravenry. 2020. i360 Report Edutech Industry in Indonesia. (10) UNICEF. 2020. Strengthening Digital Learning across Indonesia: A Study Brief. (11) The Jakarta Post. 2020. Indonesian internet users hit 196 million, still concentrated in Java: APJII survey. (12) Ministry of Education and Culture. 2021. Guru Makin Jago TIK, Belajar Jadi Tambah Seru. (13) ILO. 2021. Seminar on Indonesia - Australia Cooperation in Online ICT Education. (14) UNICEF. 2019. Study on Skills of the Future.
IOA Sources
  • (15) EdTechReview. 2020. Indonesian Coding Bootcamp Hacktiv8 Raises $3 Million to Build More Schools, Set Up ISA Program. (16) Forbes. 2021. Indonesian Edtech Startup Cakap Raises $10 Million From Centauri Fund, Singapore’s Heritas Capital. (17) Tech in Asia. 2020. Corporate learning platform Codemi secures seed funding from Bukalapak founder’s Init 6.,Corporate%20learning%20platform%20Codemi%20secures%20seed%20funding%20from%20Bukalapak%20founder's,as%20part%20of%20the%20investment. (18) Incubees. 2021. To accelerate talent digitalisation in Indonesia, Astronaut acquires POPSkul. (19) Rocketreach. 2022. Bahaso Limited Information. (20) World Bank. 2019. Indonesia Skills Development Project. (21) AVPN. 2022. Dana Cita Student Loans. (22) Said Irandoust. 2019. Indonesia Must Get Future-Ready. (23) Lee Kuan Yew School of Public Policy. 2016. Microsoft Case Study Series on Technical and Vocational Education and Training. (24) TechNodeGlobal. 2021. Indonesia edtech firm Cakap secures $10M in Series B funding co-led by MDI-KB's Centauri and Heritas Capital. (25) Old Rope. 2021. EdTech in Indonesia 🇮🇩- The way forward. (26) Yudistra Nugroho, Ilham Samudera. 2018. All eyes on e-money: The race to reach 180M unbanked Indonesians. (27) KPMG. 2017. Retail payments in Indonesia. (28) UNICEF. 2021. SITUATIONAL ANALYSIS ON DIGITAL LEARNING LANDSCAPE IN INDONESIA. (29) GSM Association. 2020. The Mobile Gender Gap Report 2020. (30) UNICEF. 2021. Empowering Adolescents in Indonesia through co-creation of Innovative Digital Solutions. (31) Open Data Labs. 2018. Digital Literacy and Young Girls in Indonesia: Bridging the Gap. (32) Republic of Indonesia. 2021. Annexes Indonesia’s Voluntary National Review . (33) Ruangguru. 2020. Annual Impact Report2020. (34) Republic of Indonesia. 2003. Law no. 20 of 2003 concerning the National Education System. (35) Ministry of Education and Culture. 2021. Regulation of the Director General of Vocational Education Number 04 of 2021. (36) Kominfo. 2021. Rencana Strategis Kementerian Kominfo 2020 - 2024 untuk Percepatan Transformasi Digital Nasional. (37) Kementerian Komunikasi dan Informatika RI. 2021. Jadi Kunci Transformasi, Menkominfo Dorong Pemda Ambil Bagian Cetak Talenta Digital. (38) Kementerian Ketenagakerjaan. 2021. Peraturan Menteri Ketenagakerjaan Nomor 6 Tahun 2021. (39) BPS. 2020. PERATURAN BADAN PUSAT STATISTIK NOMOR 2 TAHUN 2020 TENTANG KLASIFIKASI BAKU LAPANGAN USAHA INDONESIA. (40) Ministry of Education and Culture. 2018. PETUNJUK TEKNIS PENYELENGGARAAN KURSUS DALAM JARINGAN (DARING). (41) Ministry of Finance. 2021. MoH Regulation No.149/PMK.03/2021. (42) Ministry of Finance. 2021. Menkeu : PPN Mewujudkan Azas Keadilan. (43) Ministry of Finance. 2021. PPN di Bidang Pendidikan Hanya untuk Jasa Pendidikan Tertentu.