08 Oct '17, 10pm

Indonesia shaping up as next frontier for start-ups - The Straits Times

JAKARTA • Big-name investors, including Expedia and Alibaba, are pumping billions of dollars into tech start-ups in Indonesia to capitalise on its burgeoning digital economy and potential as South-east Asia's largest online market. With a population of more than 250 million, a swelling middle class and availability of cheap mobile devices, the attraction is huge. "We believe that Indonesia is poised for a huge leap forward in its digital economy, following China's growth and becoming the leading tech destination in South-east Asia," said Mr Adrian Li of Jakarta-based Convergence Ventures. Last year, US$631 million (S$867 million) in disclosed venture capital was ploughed into the country, said research firm CB Insights, up from US$31 million in 2015. But that figure has already been shattered this year, with US$3 billion in deals clinched as of September. Tokopedia - a mar...

Full article: http://www.straitstimes.com/asia/se-asia/indonesia-shapin...

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