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Today's Headlines Startups Indonesia
Possibly the biggest story in local Indonesian media over the past couple of days (if we exclude coverage of any COVID-19-related matters) is the news that Gojek is in talks (in fact in the final stages, reportedly) to merge with Tokopedia. Based on the input of people familiar with the matter, the two companies have agreed to conduct due diligence on their respective businesses.
On Thursday (8/08) Indonesia Investments released the July 2019 edition of its monthly research report. The report aims to inform the reader of the key political, economic and social developments that occurred in Indonesia in the month of July 2019 and also touches upon key international developments that impacted on the Indonesian economy.
Seeing various startup companies - across the globe (but also in Indonesia) - having developed into influential unicorns with a valuation of at least USD $1 billion, startup companies deserve some special attention. It is true, however, that most startups end in failure and therefore it is important to fully comprehend all aspects involved when establishing, running, and buying or selling a startup company to turn it into a success.
Indonesia has a thriving digital economy due to the huge population that is increasingly connected to the Internet. Meanwhile, growth still comes from a low base and therefore there are plenty of foreign and domestic investors ready to invest in Indonesia's digital economy, for example through capital injections in startups.
American multinational technology company Google and American global management consulting firm AT Kearney completed a joint study and released a report, titled "Indonesia Venture Capital Outlook 2017", that shows Indonesia's startup market is thriving - albeit coming from a low base. Financial technology is regarded the top category for future investment.
In June 2016 the "1,000 digital startup movement" was launched by Indonesia's Communication and Information Ministry in cooperation with KIBAR, the nation's technology startup ecosystem builder. This government-backed program targets to see 1,000 startups in the digital economy by the year 2020 with a combined valuation of USD $10 billion. Considering that digitalization has been a key trend around the globe (covering basically all aspects of life), Indonesian authorities want this sector to boom in Indonesia as well, which would also make the whole economy more efficient.
Latest Columns Startups Indonesia
Indonesia, the world’s 16th-biggest economy, recently joined the “trillion-US dollar club” having a nominal gross domestic product (GDP) of USD $1.01 trillion. Meanwhile, the country’s annual economic growth has been going at a pace of around 5.0 percent over the past couple of years.
E-commerce company Kioson Komersial Indonesia became the nation's first e-commerce startup to go public on the Indonesia Stock Exchange on Thursday (05/10). There was plenty of interest for the company during its trading debut as its shares rose 50 percent to IDR 450 a piece. The offering was more than 10 times oversubscribed. Local brokerage Sinarmas Sekuritas was the sole underwriter for the IPO.
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