Maturing startup ecosystem brings new business models to Indonesia

INDONESIA’S startup ecosystem is showing signs of maturity as solutions emerge to tackle problems that are not as obvious, and foreign startups move in to try to make their mark in South-east Asia’s most populous market.

On ground already well-covered by giants such as Grab, Gojek and Bukalapak offering access to consumer goods and services, one startup stands out for its bid to define and build on an informal economy.

Octopus, launched in October 2021, is trying to promote a circular economy through picking up recycling. Its efforts bring to the fore an informal sector where waste collectors scrounge the streets of Indonesia for recyclables that they could sell.