Expansion of Mobility Services and Its Impact on the Development of a Cashless Society in Indonesia(1)

Recent startup boom across Southeast Asia

Startup boom deserves to be named as one of the hot issues in Southeast Asia these days. Startup markets across Southeast Asia have been rapidly gaining momentums. 

As a matter of fact, locally born leaders of the digital economy such as Grab in Singapore which acquired the Southeast Asian business unit of Uber in early 2018 have been credited for redrawing the conventional industrial map in the region. According to Tech in Asia, startups in Southeast Asia were awarded with as much as $10.9 billion in investment in 2018. 

 

High Time for Korean Startups to Ride on Digital Fever in Southeast Asia(7)

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

There are yet pending issues to tackle in startup fever in Southeast Asia. Poor IT infrastructures in non-urban areas, shortage of high-skilled work forces and widespread financial illiteracy have chronically taken roots in most parts of Southeast Asia. 

With the exception of Singapore, capital markets and legal and institutional systems for startups in the region aren't well devised and developed as well. However, venture capitals, symbols of adventurous money would remain indifferent unless they feel confident of more gains than losses by stepping into the digital frenzy in Southeast Asia.

High Time for Digital Cooperation between Korea and Indonesia(3)

High Time for Digital Cooperation between Korea and Indonesia

Consequently, as many as 11 unicorns, privately held startup companies valued at over $1 billion, have emerged from various industries such as the mobility, the e-payment and the online game. It is Singapore and Indonesia which has been spotlighted the most for the startup frenzy in Southeast Asia. 

The two countries have been in the forefront of the development of the digital economy in the region. Singapore has been recognized to incubate the advent of the digital era with its strong commitment to innovation while Indonesia has been viewed to beef up the digital fever based upon its presence as the most sizeable playground.

Recent startup boom across Southeast AStartup fever in Southeast Asia and its implication for India to improve indispensable public services(2)

Recent startup boom across Southeast Asia

This figure is more than tripled than the total startup investment of $2.5 billion in 2016. This is far startling because investment in Southeast Asian startups failed to reach even $1 billion in 2013. 

Consequently, unicorn startups, privately held startup companies valued at over $1 billion, has been emerging one by one. Lazada, an e-commerce platform in Singapore and Gojek, an Indonesian app-based ride-hailing service provider are well-known cases.

Spread of mobility service and Indonesian cashless society(1)

Spread of mobility service and Indonesian cashless society

In tandem with the e-commerce, fintech and online travel areas, mobility service has been often acclaimed as the leading trailblazer of the Indonesian digital economy. It is due to the rapid development of the mobility industry mainly triggered by ever-intensifying rivalry between Go-Jek and Grab, two and only decacorns in Southeast Asia.

Beginning from the desperate idea of improving chronic traffic congestions in urban districts, both Go-Jek and Grab have risen to their fame as supper applications inevitable for daily lives of the Indonesian people, young generation in particular.

Spread of mobility service and Indonesian cashless society(1)

Spread of mobility service and Indonesian cashless society

Mobility service is often acclaimed as the leading trailblazer of the Indonesian digital economy. It is due to the rapid development of the mobility industry mainly triggered by ever-intensifying competition between Go-Jek and Grab, two and only decacons, privately held startup companies valued at more than $10 billion, in Southeast Asia. 

Both Go-Jek and Grab have risen to their fame as supper applications inevitable for daily lives.

Spread of mobility service and Indonesian cashless society(1)

Spread of mobility service and Indonesian cashless society

In tandem with the e-commerce, fintech and online travel areas, mobility service has been often acclaimed as the leading trailblazer of the Indonesian digital economy. It is due to the rapid development of the mobility industry mainly triggered by ever-intensifying rivalry between Go-Jek and Grab, two and only decacons in Southeast Asia. 

Beginning from the desperate idea of improving chronic traffic congestion in urban districts, both Go-Jek and Grab have risen to their fame as supper applications inevitable for daily lives of the Indonesian people, young generation in particular.

Expansion of mobility services and Indonesian cashless society(5)

Expansion of mobility services and Indonesian cashless society

Mobility service is often acclaimed as the leading trailblazer of the Indonesian digital economy. 

It is due to the rapid development of the mobility industry mainly triggered by ever-intensifying competition between Go-Jek and Grab, two and only decacons, privately held startup companies valued at more than $10 billion, in Southeast Asia. Both Go-Jek and Grab have risen to their fame as supper applications inevitable for daily lives.