Being Southeast Asia’s largest market puts Indonesia into the spotlight. The vibrant and lively Indonesia holds more than just a dense population. Being a melting pot of cultures, the country offers multiple markets to address.
Home to around 260 million people, it goes without saying that Indonesia faces numerous local pain-points. To startups, however, these pain-points serve as untapped opportunities, meaning that growth opportunities are still widely available for Indonesian startups and foreign startups that are entering the market.
Driven by the hunger for insiders’ insights, my team and I dug deep into the ecosystem and generated tips directly from the real players and leaders in the industry. Having interviewed more than 30 tech industry players and venture capitalists across Indonesia, we present INGRM Guide to Jakarta Startups to help Indonesian professionals who are shifting towards building their own tech-based business, as well as foreign startup founders who are eyeing Indonesia as their next market for expansion.
Being born into the VC ecosystem, I had the privilege to cross paths with many of Indonesia’s top startup ecosystem players. From entrepreneurs and investors to the government and media supporting the industry, I got to learn a big part of their journeys in building and and sustaining meaningful businesses. Inspired by what they had experienced, I decided to share a compilation of this information and insights for a book and think of it as a starter package for anyone who needs to know more about the startup climate in Jakarta.
INGRM Guide to Jakarta Startups is targeted at those who are interested in joining the entrepreneurship race in this so-called unique market. In the form of a direct experience storytelling, 30 prominent Southeast Asian industry leaders shared their market-tested lessons on how to start and sustain meaningful businesses in Indonesia. Featuring 13 chapters formatted as steps to starting a business, from finding the right co-founders to fundraising and protecting IP rights, this guide includes insights you won’t find in other books or classes. In addition, the INGRM Guide provides information on co-working spaces, programmes, events and investors in Jakarta that the readers can consider as their approach strategy to the market.
Indonesia’s startups are looking at a very rapid growth. One major contributing factor is the mobile and Internet penetration rate, with calculations that the number of Internet users in Indonesia has reached 112 million (end of 2017), making Indonesia the sixth largest country in terms of Internet usage. A research conducted by Google and AT Kearney reveals that Indonesian startup investment has grown 60 times in just five years. Having received US$ 3.1 billion in investment in 2017, Indonesia has proven to be the fastest-growing center of attention as it leads Southeast Asia’s tech industry, trailing only behind Singapore.
Aside from generating knowledge and insights into Jakarta’s startup ecosystem, I hope for the guide to boost the confidence of those who want to start their venture in Jakarta, finding inspiration and the necessary connections in the book. While nowadays a wide range of information can easily be accessed online, it may be a bit harder to come across insights, such as the ones shared by industry leaders who have successful businesses in Jakarta and contributed to this guidebook with direct advice, shared specifically for those who are starting out as entrepreneurs in Jakarta.
The process of compiling the book was an exhilarating journey for the team, especially when the industry leaders began to open up and showed us their side of the story. It was also an amazing opportunity to learn that the different sides of the ecosystem are coming together as a network: they help each other thrive and lend a helping hand to the newcomers who in their eyes will be a further benefit to the nation.
INGRM Guide to Jakarta Startups at your favourite bookstores really soon!
Text by Dila Riani. This article is originally from paper. Read NOW!Jakarta Magazine March 2018 issue “Design for Living”. Available at selected bookstore or SUBSCRIBE here.