Indonesia Poised to be the Next Great Startup Hub in Southeast Asia
JAKARTA, Indonesia, Oct. 22, 2021 /PRNewswire/ — The pandemic has brought down almost every major industry in the world, yet the startup ecosystem has managed to thrive amid the challenging moment. In Indonesia, the support from the government and the Ministry of Communication and Informatics has reinforced the startup growth, enabling more education platforms and research to accelerate digital financial literacy across the country.
According to research, Indonesia received the lion’s share of funds raised in 2020 in Southeast Asia to the tune of US$2.7 billion. The Indonesian Venture Capital and Startup Association (Amvesindo) data also show that US$1.9 billion has been raised by at least 52 startups as of September 2020.
These numbers are indicative of Indonesia being one of the most promising country to invest in across the region. Hiro Kiga, co-founder of payment solution company Wallex predicts that the trend seems to be in fintech and digitalisation for the offline economy. “Now it’s come to a point where the next segment of the offline users will be digitized. Also, anything that surrounds MSMEs such as logistics and last-mile deliveries would be interesting sectors to look at,” said Hiro Kiga.
Supporting for the startup scene
While the majority of the startups are based in Jakarta, the trend is spreading out to other parts of Indonesia.
“We are fully in support of the startup’s culture, and we will continue to develop programs and activities that will help spread the startup scene to more provinces other than Jakarta,” said Indonesia’s Director General of ICT Applications, Semuel Abrijani Pangerapan.
The support for startup culture is evident in the series of startup-focused programs such as Gerakan National 1000 Startup Digital (1000 Digital Startups National Initiative) and Startup Studio Indonesia, in which the Ministry assists early-stage startup founders to create their MVP and achieve their product market fit by opening access to resources and connections to prominent and active startup founders and business opportunities.
In addition, the Ministry is also promoting investment opportunities at the upcoming Joint Exhibition & Junction of Startup Landscape in Indonesia or JEJALA ID, a matchmaking event for startups and investors.
JEJALA ID is a multi-faceted event aimed at sharing critical information for investors such as the benefits in investing in Indonesia, the most promising sectors, as well as success stories from Indonesia’s startup scene.
The entire event will run from October to January, with the first pre-event roadshow will be held online on October 29, 2021, for Japan participants and venture capitals (VCs), addressing “The Myth Surrounding Indonesian Startup Investment“.
Keynote speakers from different companies will share their knowledge to help attendees gain insight to the Indonesia’s startups ecosystem. Participants will also hear from other business luminaries, including Indonesia’s Director General of ICT Applications, Semuel Abrijani Pangerapan; Hiro Kiga, CEO of Wallex; Chendy Jaya, CEO of Imajin; and Italo Gani, Managing Partner of Impactto.
The main thrust of the event is connecting 30 well-curated, investible, early-stage startup companies to 30 foreign venture capital firms in each of the participating regions and countries, which are Europe, Singapore, Japan, the United States, and others.
For more information, and to register, please visit https://jejala.id
About the Ministry of Communication and Informatics
The Ministry of Communication and Informatics is the official government agency of Indonesia tasked with formulating and implementing national policies in the field of communication and informatics. It is also responsible for accelerating the distribution of information technology and digital infrastructure so that the public can have efficient access to up-to-date telecommunications and internet networks.
SOURCE Ministry of Communication and Informatics of Republic of Indonesia
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