Yogyakarta, May 2024 – RUN System, a technology company providing world-class Enterprise Resource Planning (ERP) and Software as a Service (SaaS) solutions, participated on the IDX stage, inspiring Indonesian startups, in the Startup Go Public Summit. The forum discussed startup success stories and how they achieved funding, went public (IPO), or were even acquired. Speakers emphasized that “the growth story” at every stage of a tech company’s development is key to success.
The IPO climate, however, has undergone a significant change compared to five years ago. Today, short-term profitability is a crucial factor. Because not all products can be monetized easily, it requires the ability to adapt (pivot) according to the direction of investors.
Even so, IPO is not the endgame. Companies can still raise funds through further rounds of funding. But for many startups, especially after the Tech Winter, an IPO is a gateway to strengthen credibility, and a pathway to attract talent and also the market for consumers. That’s one of the many ways RUN System has grown during a time of high global economic uncertainty.
The same goes for eCampuz (PT Solusi Kampus Indonesia), one of RUN System’s subsidiaries, which is currently preparing for the Pre-IPO stage. Going public is seen as a strategic move for sustainable growth. Its dedication to developing Indonesian human resources has helped 3,263,568 out of 9,067,864 active students. The 36% of the market in 2023 will continue to grow stronger by listing on the stock exchange. And on this occasion, RUN System also shared these goals, which also inspired the audience and the Indonesian people.
Challenges and Key Messages for Startups
“A challenge when executing an IPO, is also shifting from simply a product market fit, but to government fit or in other words regulatory compliance. And then shifting from just a product mindset to a corporate mindset,” said Sony, CEO & Founder of RUN System.
“And beyond that, being on IDX Board, it is a way to deliver our message and our “why” which is to help develop Indonesia one way or the other. ” Sony added.
In line with Sony, another speaker, Kenneth Li, Managing Partner of MDI Singapore Pte. Ltd stated, “If you have ambitions to grow big and even be one of the biggest in the world, then going public is a way to go.”
Junichiro Waide, CEO of Venteny Fortuna International Tbk, emphasized the importance of consistency in delivering messages to investors, both public and private. “Consistency is crucial,” he said. “If you can’t manage the public interest in your company, than its hard to offer it to the public. “
The discussion also touched on the “supercycle” that is predicted to happen soon after the uncertainty of the current business and startup cycle. In particular, Indonesian tech companies were cited as one of the best opportunities in the world. The potential growth of their market capitalization reaches 2-3 times thanks to the extraordinary digital transformation.
RUNSystem’s involvement in this event is a big step in its journey to become one of the top tech companies. In addition, it is also strengthen its position as a leader in the Indonesian tech industry. RUN System hopes to inspire and empower other startups in Indonesia to follow in its footsteps and achieve success in the capital market.
Also read: eCampuz, RUN System Subsidiary, Ready for IPO to Strengthen Capital and Business Expansion
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