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

Global eyes on startup fever in Indonesia

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. 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.

Global eyes on startup fever in Indonesia(1)

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. 

Right Time for Korean Startups to Ride on Digital Fever in Southeast Asia(3)

Right Time for Korean Startups to Ride on Digital Fever in Southeast Asia

It is mainly young Southeast Asians equipped with experiences of studying in Western countries who initiated startup craze in the region. As more and more young generations across the region rush to kick off their own companies, business models of startups are getting shaped up in a various way. 

For example, attempts to introduce mobile technology to region-specific circumstances have been drawing huge attention. To name a few, startups aiming for improving the productivity of aquaculture industries or producing eco-friendly shopping bags to provide customized solutions for Southeast Asia where primary industries still considerably counts are loomed large.