No shortage of venture capital for Indonesian start-ups in 2022

In the business sense, a unicorn is any privately held start-up valued at over US$1 billion. The choice of the mythical animal alludes to the rarity of such start-ups.(Shutterstock.com/fatmawati achmad zaenuri)

JAKARTA (The Jakarta Post/Asia News Network): Indonesian start-ups enjoyed an influx of funding in 2021 and more is to come as the country’s internet-savvy population grows and Covid-19 travel restrictions are eased, according to venture capital firms.

Willson Cuaca, cofounder and managing partner of East Ventures, said that, while the pandemic pushed up internet usage in Indonesia, the country’s digital economy had already provided a strong basis for growth before the crisis.