Help for healthcare

• 500-backed fintech startup Impact Credit Solutions (ICS) launched the Indonesian Resilience Fund (IRF), a US$40 million fund that will support Indonesia’s healthcare sector during the COVID-19 pandemic.

• The fund will complement existing initiatives by the Indonesian government by providing financing at affordable rates to local partners. This in turn will enable them to finance hospitals, clinics, pharmacies, and other small businesses.
• ICS CEO Reinier Musters said, “We are grateful for the opportunity to help our local partners contribute to the COVID-19 relief effort… This is a true opportunity to show the good that both finance and technology can do.”
• Read the full press release here.

Leveling up learning

• 500-backed amalan international announced a partnership with an Indonesian institution of tertiary education, Universitas Gadjah Mada (UGM), to complement classes with experiential learning opportunities at amalan.

• amalan provides debt management programs to Southeast Asian consumers and small business owners who struggle with their loans to regain control of their finances.
• Through this partnership, amalan will offer 4–12 months’ internships and part-time employment opportunities for UGM’s vocational students in diploma programs for banking, management, economics, and accounting. In addition, amalan will conduct seminars and guest lectures.
• This is a part of amalan’s commitment to develop the future readiness of Indonesia’s youth workforce.

AI for the layman

• Singapore is the first country in the world to roll out a course developed by Intel to demystify artificial intelligence (AI) for the man in the street.
• Enabled by 500-backed edtech startup Gnowbe, the free four-hour online microlearning course ‘AI For Citizens’ was launched in partnership with the Institute of Technical Education (ITE).

• The self-paced course will give learners a basic understanding of AI, appreciate how it is used, and address misconceptions.
• Catering to people with no prior knowledge of AI, the course is suitable for anyone, from students to senior citizens.
• Get more details on The Straits Times and check out the course on Gnowbe here.

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500 Startups is a venture capital firm on a mission to discover and back the world’s most talented entrepreneurs, help them create successful companies at scale, and build thriving global ecosystems. In Southeast Asia, 500 Startups invests through the pioneering 500 Southeast Asia family of funds. The 500 Southeast Asia funds have backed over 240 companies across multiple sectors from internet to consumer to deep technology. It continues to connect founders with capital, expertise and powerful regional and global networks to help them succeed.

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