Indonesia’s Technology Startups: Voices from the Ecosystem


Indonesia's startup ecosystem has so far produced 12 unicorns and one decacorn—privately held tech startups valued at $1 billion and $10 billion, respectively. As of 2022, the country has 2,431 startups, second only to India among Asian economies. Despite the progress, Indonesia’s ecosystem is not yet complete and fully functional.

Drawing on interviews with founders and other stakeholders, the report analyzes the prospects for tech startups in agriculture, the green economy, health, and education in Indonesia. It examines the active role of government and looks at funding options, including venture capital. It explains why it is difficult for founders to obtain funding in the early stages of development and outlines how Indonesia can develop its talent pools and provide support to help its startups survive and thrive.


  • Introduction
  • Key Components and Startup Evolution
  • Support Needed at Each Stage of the Life Cycle
  • Agriculture and Agritech
  • Education and Edtech
  • Health and Healthtech
  • Environment, Climate Change, and Greentech
  • Recommendations
  • Appendix: Government Startup Support Programs

Published June 2023.
Source: Asian Development Bank

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