High Time for Digital Cooperation between Korea and Indonesia(6)

High Time for Digital Cooperation between Korea and Indonesia

In this regard, starting from the e-commerce field followed by sectors like the co-working space and the online travel, young and ambitious startups have been playing prime roles in taking initiatives to bring digital technology into reality. 

What COVID-19 has showed to the Indonesian society has served a wake-up call to this irreversible trend of the digital Indonesia. There are yet pending issues to tackle in startup fever in Indonesia.

 

Startup fever in Southeast Asia and its implication for India to improve indispensable public services(3)

Recent startup boom across 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 enormous attention.

Global eyes on startup fever in Indonesia(3)

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.

Spread of mobility service and Indonesian cashless society(3)

Spread of mobility service and Indonesian cashless society

In a country where less than 10% of the population holds credit cards, implementation of e-payment system on mobile devices served as a game changer for the leapfrog of the mobility market. As users can make payments within their balance in the mobile wallet, overall access to mobility services was considerably upgraded. 

In other words, mobility services in Indonesia became more and more prevalent with no concern for possession of cash or credit cards. It goes without saying that such spread of mobility services accelerated by actualization of e-payment on mobile gadgets has raised the expectation of a cashless society in Indonesia.