Expansion of Mobility Services and Its Impact on the Development of a Cashless Society in Indonesia(7)

Global eyes on startup fever in Indonesia

It seems that Indonesia has caught eyes of the global investment industry more actively than Singapore in the regional competition of startup waves. A growing number of venture capitals and startup incubators sense exceptional business opportunities of Indonesia especially in terms of the market size.

In fact, as the world’s biggest archipelago with 17,000 or so islands, Indonesia has little choices but to rely upon online or mobile platforms to have more people advantaged from the convenience and efficiency of the digital economy.

Expansion of Mobility Services and Its Impact on the Development of a Cashless Society in Indonesia(6)

Global eyes on startup fever in Indonesia

These advantages of the two countries, namely Singapore in quality way and Indonesia in quantity way, have been exercising salient powers in generating most notable startups in the region.

The fact that 8 out of 10 unicorns in Southeast Asia are headquartered either in Singapore or in Indonesia proves the significance of the two countries in the developments of the digital economy.

Expansion of Mobility Services and Its Impact on the Development of a Cashless Society in Indonesia(5)

Global eyes on startup fever in Indonesia

Among 11 countries in Southeast Asia, Singapore and Indonesia has been viewed as spearheading the advent of the digital economy across the region. It is little doubt that Singapore is the financial and technological hub of Southeast Asia with its delicately developed free-market economy. 

Blessed with the world’s 4th largest population of around 260 million people, Indonesia takes approximately 40% of the total GDP of the Southeast Asian economy. 

Expansion of Mobility Services and Its Impact on the Development of a Cashless Society in Indonesia(4)

Recent startup boom across Southeast Asia

This could explain why global investment experts have been paying closer attention to this area where the youth covering roughly half of the whole population are climbing on the brand new era of the digital economy. 

In this sense, it may not be too much to say that a rosy outlook on the startup fad in Southeast Asia is likely to be maintained for the time being.

Expansion of Mobility Services and Its Impact on the Development of a Cashless Society in Indonesia(3)

Recent startup boom across Southeast Asia

Hugh growth potential in the region would be singled out above all things. The number of internet users in key countries of Southeast Asia like Myanmar and the Philippines has been mounting the fastest on the planet. 

There is eye-catching prediction that a whopping 480 million people almost nearing the entire inhabitants  of the European Union will be fairly accessed to internet in Southeast Asia by 2020.