Indonesia’s start-up scene: The land of plenty
Indonesia is the largest economy in Southeast Asia and home to tech success stories like GoTo and Bukalapak, but thanks to the market’s size and scale, we are only at the very beginning of its start-up story.
AbJimroe
November 01, 2022
When Jakarta-based John Riady started investing in Southeast Asia’s technology sector almost a decade ago, he put together an internal deck to detail the size and scale of the asset class in Indonesia.
His list compiled all the start-ups active in the country, and their valuations at the time. According to his calculation, this number stood at $60 million. Since, the same segment has grown to an estimated worth of between $30 to $60 billion.
“Indonesia is one of the few remaining large markets that is somewhat undigitised and this is important, because technology requires scale. This is what makes Indonesia one of the most exciting markets...
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