President Jokowi Confident Indonesia’s Startup Ecosystem Will Reign Supreme in ASEAN

President Joko Widodo

Indonesian President Joko Widodo, popularly known as Jokowi, expressed optimism that the startup and digital economy climate in Indonesia can continue to thrive and even become the leader in the ASEAN region.

In his speech at the Digital Economy Festival 2023 at the Jakarta Convention Center on May 8, 2023, the President mentioned that Indonesia is currently ranked sixth in the world in terms of the number of startups, with over 2,400 startups in the country and internet penetration reaching 76.8%.

Moreover, Jokowi emphasized that the startup ecosystem in Indonesia is also aided by the predicted growth of the digital economy in the country, which is expected to reach a value of US$130 billion by 2025 and continue to grow to around US$315 billion by 2030.

The President also pointed out that the digital economy and finance in Indonesia can be optimized as a new source of economic growth, given its large market share, accounting for approximately 40% of the total digital economy transactions in ASEAN.

“I see that Indonesia can continue to play a leading role in ASEAN, and the potential for growth is immense,” said Jokowi.

The President’s positive outlook on the startup and digital economy climate in Indonesia reflects the country’s progress and efforts in developing its digital infrastructure and ecosystem.

In recent years, Indonesia has witnessed significant growth in its digital economy, which has been driven by the increasing adoption of digital technologies and the growing number of tech-savvy consumers.

Indonesia’s vibrant startup scene has also contributed to the country’s digital economy growth, with many young entrepreneurs and innovators creating and developing innovative solutions that cater to the needs of the local market.

The government has also been supportive of the startup ecosystem, with initiatives such as the establishment of a startup fund and the development of regulatory frameworks that promote innovation and entrepreneurship.

With Jokowi’s optimistic outlook and the country’s continued efforts in developing its digital economy and startup ecosystem, Indonesia is poised to become a key player in the ASEAN region and a hub for digital innovation and entrepreneurship in the years to come.