Last year $631 million in disclosed venture capital was ploughed into the country, according to research firm CB Insights, up from $31 million in 2015. Tokopedia -- a marketplace that allows users to set up online shops and handles transactions -- won $1.1 billion in capital from China's Alibaba in August. "When you do startup business in Malaysia, Singapore, Thailand and Indonesia, the cost, effort and time that you spend is almost even. But when you go to Indonesia (growth) is unlimited -- the market is so big," said Willson Cuaca, whose venture capital firm East Ventures specialises in early-stage investments. - Navigating challenges -=========================Indonesian president Joko Widodo has been a vocal supporter of digital innovation, most notably in his plan to create 1,000 local tech start-ups worth $10 billion by 2020.

Source: The Nation Bangkok October 09, 2017 06:41 UTC