FWD Insurance launches community care initiative InnovateHer Academy Programme to empower Indonesian female business founders as part of FWD Group’s 10th year anniversary

PT FWD Insurance Indonesia officially launches the InnovateHer Academy programme, an empowerment programme for 10 female start-up founders in technology and digital fields who are creating solutions that bring positive impact to Indonesia.

As part of FWD Group’s 10^th year anniversary, the Community Care programme was supported by Ministry of Women's Empowerment and Child Protection of the Republic of Indonesia and UN Women Indonesia, and collaborated with KUMPUL.ID, one of the largest entrepreneurship ecosystem enablers in Indonesia, focusing in entrepreneurship and start-up ecosystem, that catalyse the growth of creative and digital economy through impactful programmes, accelerating the process of creating a successful business through educational empowerment and strong business network connections. 

InnovateHer Academy creates an opportunity for female start-up founders to empower women, contributes to the economic and human resources growth through technology and eventually will contribute positively toward Indonesian society.

The programme officially launched, marked by the memorandum of understanding (MoU) signing on 30 August 2023 by Desy Natalia Widjaya as Director FWD Insurance and Lenny N. Rosalin, SE, M.Sc, M.Fin, as Deputy of Gender Equality  Ministry of Women’s Empowerment and Child Protection Republic of Indonesia.

Desy Natalia Widjaya, Director FWD Insurance explained, “This latest initiative from FWD Insurance is aimed at start-up founders as our support for the innovation, diversity and inclusiveness of start-up business especially female founders, to create a sustainable business. This is in line with our vision of changing the way people feel about insurance”.

InnovateHer Academy programme is available for female start-up founders in Jakarta, Bogor, Depok, Tangerang, Bekasi (Jabodetabek) region through selection process. Ten selected founders will be given practical and technical knowledge to develop sustainable, measurable, ability to launch the product, and develop profitable business strategy. That knowledge will be provided in the masterclass and mentoring sessions which last for three months. The final stage of the programme is business presentation in the pitching and business matching session with potential investor to get funding opportunity for their start-up business.

Faye Wongso, Founder and Chairperson of KUMPUL.ID, said “InnovateHer Academy programme is a remarkable opportunity to promote gender equality and create an inclusive ecosystem in the digital business. By providing access to education, training, and support, this programme uncovers the tremendous potential of women entrepreneurs through collaboration and a strong community network. With this inspiring initial step, InnovateHer Academy brings a ray of optimism for an inclusive, competitive, and a positive impact for social change."

Lenny N. Rosalin, SE, M.Sc, M.Fin, as Deputy Minister for Gender Equality The Ministry of Women’s Empowerment and Child Protection of the Republic of Indonesia said, “We appreciate the InnovateHer Academy programme initiated by FWD Insurance. A gender perspective is also part of this programme, covering five main issues, including gender equality, domestic and children violence prevention, healthy internet utilization, and stunting prevention. We hope that female start-up founders can become agents of change in empowering women in their business sphere.”

Dwi Yuliawati Faiz sebagai Head of Programmes UN Women Indonesia expressed, “In 2020, only 2% of global venture capital funding was invested in startups solely founded by women¹. Women are rarely viewed as technology creators and decision-makers, which limits the development of products that respond to their needs and views. We appreciate the InnovateHer Academy program as an effort to change stereotypes, build networks, provide funding opportunities for women startup founders, and develop an ecosystem that supports women to innovate for equality.”

On 14 August 2023, FWD Group marked its 10^th anniversary with the announcement of 10 grants across its 10 markets to local Community Care initiatives that strive for greater financial inclusion, with the overall aim of closing the protection gap in the region. This is an integral part of FWD Group’s Environmental, Social and Governance strategy.

In May this year, FWD Group also announced the expansion of its financial literacy programme for students, JA SparktheDream, to span seven markets in Asia, including Indonesia, as part of its 10th anniversary year Community Care initiatives.