ADVERTISEMENT

'Adopt a unicorn': Indonesia eyes plan to help startups expand across southeast Asia


"I've discussed this strategy with other ministers in Southeast Asia and have offered to everyone to adopt existing unicorns and have a presence in each other's countries," Minister of Communication Rudiantara said in an interview. (Indonesia's Minister of Communication and Information Technology, Rudiantara, gestures during an interview with Reuters at his office in Jakarta, Indonesia August 9, 2018. - REUTERS)

"I've discussed this strategy with other ministers in Southeast Asia and have offered to everyone to adopt existing unicorns and have a presence in each other's countries," Minister of Communication Rudiantara said in an interview. (Indonesia's Minister of Communication and Information Technology, Rudiantara, gestures during an interview with Reuters at his office in Jakarta, Indonesia August 9, 2018. - REUTERS)

JAKARTA: Indonesia wants southeast Asian nations to cooperate in helping startups in the region worth at least US$1 billion expand outside their home countries, the communication minister said on Friday. Malaysia's ride-hailing platform Grab and Singapore-based e-commerce company Lazada are among the other Southeast Asian unicorns

The effort aims to keep foreign startups from dominating a market of 640 million people by assisting the region's estimated seven to ten unicorns, or companies that have attained a valuation of $1 billion without tapping the stock markets.

Corporate News

   

ADVERTISEMENT