Indonesia expects to have more than 5 unicorns by 2019
Add BT as a preferred sourceDeeperDive is a beta AI feature. Refer to full articles for the facts.
[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.
The country currently has four unicorns - companies that have reached US$1 billion in valuation without tapping the stock markets - including ride-hailing company Go-Jek, travel site Traveloka, and market places Bukalapak and Tokopedia.
Share with us your feedback on BT's products and services
TRENDING NOW
‘Boring’ is the new black: The stars are aligning for a Singapore stock market revival
Near sell-out launches in March boost developer sales to 1,300 units after four slow months
China pips the US if Asean is forced to choose, but analysts warn against reading it like a sports result
Genting Singapore’s Lim Kok Thay receives S$7.5 million pay package for FY2025
