Indonesia’s Booming Start-Up Scene: A Look at the Latest Business News
Indonesia is quickly becoming the go-to destination for start-ups looking to make a name for themselves in Southeast Asia. With a population of over 266 million people, a growing middle class, and a thriving economy, Indonesia is teeming with opportunities for entrepreneurs.
In this article, we will take a closer look at Indonesia’s start-up scene and the latest business news in the country.
Start-Up Ecosystem
Indonesia’s start-up ecosystem has grown significantly in recent years, with more and more entrepreneurs launching their own ventures. According to a report by Google and Temasek, Indonesia’s internet economy is expected to grow to $133 billion by 2025, with e-commerce accounting for a significant portion of that growth.
The government has also realized the potential of the start-up scene and has taken steps to support it. In 2016, the government launched the 1,000 Start-ups Movement, a program aimed at supporting the development of 1,000 start-ups by 2020. The government has also established a number of funds and programs to provide financial support to start-ups.
Biggest Players
There are several companies in Indonesia that have become major players in the start-up scene. Gojek, for example, is an on-demand ride-hailing app that has expanded to include food delivery, payment services, and more. The company has raised over $3 billion in funding and is valued at over $10 billion.
Tokopedia is another major player in the e-commerce space, providing a platform for small businesses to sell their products online. The company has raised over $2 billion in funding and is valued at over $18 billion.
Latest News
Indonesia’s start-up scene is constantly evolving, with new investments and acquisitions making headlines regularly. In August 2021, Indonesian fintech start-up, Xendit, raised $150 million in funding led by Tiger Global Management and added Microsoft Corp co-founder Paul Allen’s Vulcan Capital as a new investor. Another notable development is the acquisition of Indonesian grocery start-up HappyFresh by South Korean retailer Lotte Shopping in July.
Conclusion
Indonesia’s start-up scene is booming, and it shows no signs of slowing down. With a growing ecosystem, supportive government policies, and major players leading the way, Indonesia is quickly becoming a hub for entrepreneurship. The latest investments and acquisitions only add to the excitement. As we move forward, Indonesia’s start-up scene is definitely one to watch.
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