Innovation Is Everywhere is looking forward to attend Indonesia StartUp Insights 2016 on the 4th of June 2016, at EcoWorld Gallery @ Singapore.
Following up their last year’s huge success of Indonesia StartUp Night 2015, Indonesia StartUp Insight 2016 is now held as the biggest Indonesia start up event in Singapore. It is a platform for startups, investors, enthusiasts or individuals looking for startup partner to gain exposure and network on Indonesia’s startup environment.
Here are some highlights of Indonesia StartUp Night last year:
Innovation is Everywhere is keen to find out more about the innovation ecosystem in Indonesia, being the 4th most populated country in the world. Supported by Indonesia’s huge market of over 250 million population, we have seen innovative startups recently emerging from Indonesia.
Here are a few interesting points about Indonesia’s startup environment we’ve known thus far:
Indonesia’s startup scene is still very young.
Unlike in China or India which are also highly populated emerging countries, the startup scene in Indonesia is still very young. In fact, just a couple of years ago startup activities were still largely unheard of in Indonesia. Yet, there has been a notable booming of startup activities recently and now the scene is blowing up.
On the businesses’ point of view, Indonesia’s large population of over 250 million people is surely tantalizing to tap on. Moreover, the middle-affluent class’ purchasing power in Indonesia is set to rise strongly. Euromonitor International forecasts that Indonesia’s median disposable income will reach US$11,300 (in constant 2014 prices) per household, up from US$6,300 per household in 2014. Meanwhile, the country’s middle class will expand to around 20 million households by 2030, which will create an important consumer base to drive demand and spending in the country.
In other words, emerging businesses have now the confidence of outlook in terms of their market’s capacity. This is a driving factor in kickstarting startup businesses in Indonesia.
On the market’s point of view, the improvements of education over the years in Indonesia in tandem with the widespread adoption of technology, are expected to formulate better product innovations for the market. As the previously unpolished brilliant minds get better educational foundation, new ideas are to sprout out from the large pool of Indonesian talents. Also, with the current support capacity of production, manufacturing as well as the media, the execution newly-formulated ideas are now more seamless, which also encourage the growth of startup industries.
Aside from the market and merchants’ factors, Indonesia’s current rate of infrastructural progress also acts a lubricant for startup activities to proceed. On the manufacturing and product development areas, Indonesia has started to utilize advanced technology, yet still able to contain production cost due to its abundant resources.
Furthermore, with the ubiquity of social media, marketing is also not a hindrance for start ups. According to We Are Social’s compendium of world digital stats, Indonesia now has 88.1 million active internet users, up 15 percent over the past 12 months. This is aside from the fact that Indonesia has the 3rd largest twitter usage and 4th largest facebook population, which are also the most widely used marketing media for start-up industries. Today, start-up industries are robustly competing to exploit this media marketing opportunity to boost their product sales to their advantage.
In conclusion, not only there is a room to bring business models and tech from mature markets to an expanded geographic reach but also a huge opportunity to create entirely new concepts that cater to a rapidly modernizing marketplace. There has also been recently an increasing government support when it comes to startup. Only last week, Indonesia’s tech minister, Rudiantara, claimed he would attempt to raise US$1 billion from local conglomerates to invest in Indonesia’s startup. It is no wonder that financial capital is starting to flood in for the rising population of a largely untapped market for new era technology, apps, products, and services.
Aside from all these interesting facts on Indonesia’s start up environment, we surely believe that there are more to uncover! We look forward to assess different perspectives through the pitching sessions, panel discussions, networking and expert insights at Indonesia Startup Insights 2016.
If you, too, are interested, RSVP at: https://www.eventbrite.sg/e/indonesia-startup-insights-2016-tickets-24717739424