Indonesia expects to have more than 5 unicorns by 2019

Jakarta

INDONESIA is likely to have more than five startups worth at least US$1 billion each by 2019, with healthcare and education the most promising sectors to spawn new unicorns in South-east Asia's biggest economy, the communications minister told Reuters.

Driven by a youthful population of more than 250 million people owning at least 100 million smartphones, Indonesia has seen a rapid growth in the number of startups trying to capitalise on this potential in a growing economy.