General and Timeline

1. What is Indonesia PASTI BISA?
   Indonesia PASTI BISA, abbreviated as IDPB,  is a collaborative movement spearheaded by East Ventures since 2020 to support communities during the crisis in Indonesia.
2. What is Indonesia PASTI BISA Maju Terus Pantang Mundur?
   It is the fourth initiative of Indonesia PASTI BISA, a collaborative project led by East Ventures in response to the current rampant employee layoffs, especially in the tech ecosystem. Impacted talent who has a business idea can join the coaching and hackathon program, which comprises 11 days of direct coaching and 1 day of demo day. Meanwhile, impacted talent who is looking for job opportunities can navigate hundreds of job vacancies available in the East Ventures’ ecosystem through the IDPB MTPM job dashboard on the website.
3. How will the funding of IDR 7.5 billion Convertible Notes be distributed among the 30 winning teams?
   Generally, each team should receive IDR 250,000,000. However, this will further be the discretion of our internal team. Winning teams will be selected based on the MVP presented on the demo day. If teams with good MVP according to our criteria are less than 30, the winning teams would be less than 30 too. The fund will be transferred to your bank account on 17 January 2023.
4. Is this a way for east ventures to find deal flow?
   We have seen thousands of deal every year, so we have healthy deal flow. This is pure impact driven, only for laid off talent, and we use non-valuative instrument to justify the funding.
5. When is the submission deadline?
   30 November 2022, 5 PM (GMT+7)
6. When and where is the event held?
   The demo day will be held offline on 13-14 December 2022 hybrid in Jakarta and online. The offline location will be informed to the selected teams as soon as possible.
7. Who will own the Intellectual Property (“IP”) of our idea/ future startup?
   Your team will entirely own the IP

Requirements, Team Structure

1. What are the requirements to join the hackathon?
   (i) Minimum 1 person and maximum of 4 persons, with 1 leader
   (ii) Individual applicants will need to find a team of minimum 2 persons before the Demo Day. (Don’t worry, we will have a series of ideation events so you can connect with other individual applicants)
   (iii) Applicants are not working full-time and/or full-time students
   (iv) Applicants can be based in any country, but the business idea must solve problems in Indonesia
   (v) Can operate across all sectors
2. Do you have any certain criteria for the team members?
   We would love a team consisting of individuals with diversified expertise
3. If my team members are not yet laid off, but already received layoff warnings within the firm, are they allowed to join?
   Yes. Our registration form will include a consent button, confirming that team members are either: (i) not working full-time; (ii) not a student; (iii) potentially laid off by the firm 
4. If my team is chosen as one of the winners, how far will East Ventures be involved in the formation of our startup? What about the ownership structure of East Ventures within the new startup?
   The next involvement in the winning team after the winner announcement is the process for the disbursement of the fund to the team leader. East Ventures’ ownership within the new startup will be subject to the startup’s valuation in the future fundraising. Potential further funding from East Ventures will be a separate matter, and will go through an entirely different process.
5. If my team members are from another country, are they also required to attend the demo day offline?
   Team members who are not in Jakarta can join the demo day via online.
6. After our registration/ submission, can we change the team members?
   A: Team leader cannot change, but the rest of the team members can.
7. If we already have the idea and are still bootstrapping, can we also apply?
   Yes, as long as team members are currently not working full time elsewhere, and the team hasn’t received any VC funding.
8. If my team is selected to win, but right before the demo day we feel our team dynamics don’t match, what will happen?
   If you and a team member decide to stop working together during the training period, the hackathon, and/or before the demo day, you can find another team member. Substitution of team members is allowed before the demo day.Changes in team members after the announcement of the winner is also not a problem, but the contact and documentation for checking in will go through the Team leader.
9. Are founders or leads who are currently abroad allowed to participate? What if they are working part time?
   Yes, we do not close the opportunity for people who are abroad to join our program. However, we will prioritize those who have been laid off and are not currently working.
10. If I would still be working full time until 2023, but the project ends in 2023, can I register?
    We will prioritize those who are affected by the layoff and do not yet have a job.
11. Is this program limited to those working in the tech industry?
    We are also open to applicants who are not from the tech industry, but we will prioritize technology-based ideas and MVPs.

Problem Statement/ Product

1. What if my solution involves a wearable device or IoT, which requires further testing outside the program timeline?
   Any product testing should already be done within the program timeline.
2. Is there any format/ limitation on the program language for our solution?
   No.
3. Is there any sector preference for the solution?
   No, all ideas from any sector are eligible to be submitted.
4. Are we allowed to submit more than 1 idea?
   No. 

Regarding business/ product

1. If I already have an MVP, am I allowed to join the program?
   Any product testing should already be done within the program timeline.
2. Is there a minimum criteria for the stage of the proposed business? Do there have to be a deck, MVP and so on?
   There is no minimum business stage criteria. The registration form only requires your business idea, so you don’t need to prepare any deck. We hope that the training that will be given to the selected teams can help them realize this idea so that it becomes an MVP that can be presented on demo day.
3. Can I submit a conventional business idea that focuses more on products without technology first, then after new funding I try to develop the technology?
   No, all ideas from any sector are eligible to be submitted.

Regarding benefits and perks

1. Will the funding benefits be 100% monetary or will it be in combination with other benefits? Will it be disbursed all at once or on a regular basis?
   Funds of around IDR 250 million per team will be given 100% in cash, plus other benefits and perks from our partners, such as Kompas, Google, Xendit and others.
   Funds will be provided at once in 1x disbursement.
2. Does the Rp 250 million funding have to be allocated for business development, or can it also be for the runway of the team involved?
   Funding can be utilized for the runway and business development in the next few months.
3. Will there be mentors for the winning teams?
   There is no special team from East Ventures to provide intensive training. However, East Ventures has many networks, including accelerators that we can recommend to our winning friends.
4. After the funds are provided, will there be an evaluation of the realized business?
   We will follow up or check in with the winning team within 2 to 3 months after the disbursement of funds. We want to know the process and development of their business ideas.