'Adopt a unicorn': Indonesia eyes plan to help startups expand across South-East Asia

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/Willy Kurniawan

Indonesia wants South-East Asian nations to cooperate in helping startups in the region worth at least US$1bil (RM4bil) expand outside their home countries, the communication minister said.

The effort aims to keep foreign startups from dominating a market of 640 million people by assisting the region's estimated seven to 10 unicorns, or companies that have attained a valuation of US$1bil (RM4bil) without tapping the stock markets.