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.

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.