Indonesia is one of the world’s largest agricultural producers, with farming contributing nearly 13% to the national economy. The sector has been in slow decline for decades, however, hurt by poor yields and falling income. In recent years, thanks to startups seeking to use technology to boost the sector, Indonesian agriculture has found a new lease of life. From our interviews with key local agritech companies and investors in smart shrimp farming, farm-to-table e-commerce and more, CompassList has produced an in-depth and insightful survey of Indonesia’s agriculture sector and its prevailing challenges, complete with outlook and recommendations.
Gojek
Updated: 06/2021
Updated: 06/2021
Pitch
Indonesia’s first unicorn, ride-hailing startup Gojek has merged with Tokopedia to compete against regional giants Grab and Sea Group to develop the best super-app.
Why
Terrible traffic
In Jakarta alone, traffic congestions caused IDR 65tn in annual productivity loss.
Unpredictable pricing
With traditional motorcycle taxi drivers, passengers need to haggle for a price before each journey.
Unbanked population
Many in Southeast Asia don't have bank accounts, relying on cash for daily transactions.
Market
660m
The population of Southeast Asia as of 2019, representing Gojek’s total market: ASEAN Key Figures 2020
RELATED ARTICLES
Insights on tech and the Indonesian diaspora in Silicon Valley
Navigating the different diaspora communities, one tech event at a time
No bank account? In Indonesia, you can still shop online
Indonesian startups are racing to serve the millions of consumers that banks haven’t reached. Here’s a look at some of the leading players, their innovations and how they have redefined the market
Exclusive: Patamar Capital to raise US$150 million, eyes Series B investments
The impact investment VC recently scored an exit at Indonesian online-to-offline group buying startup Mapan, when it was bought over by Go-Jek
Patamar Capital’s impact investing: On preferred business model, backing women, Mapan
The pioneer in impact investing in Asia gives us the lowdown on its investment criteria, its new focus on women entrepreneurs and related sectors, how it helps its portfolio companies and more
Bekraf: Growing a creative, productive Indonesia
Established to support Indonesia's creative industries as a whole, Bekraf is also an important link between government and the burgeoning startup landscape
Beyond ride-hailing: Gojek, Grab and all their friends
Now that Grab and Go-Jek are in a faceoff on a regional scale, here's a look at how Southeast Asia's two biggest unicorns – and their investors – could be shaping the local digital economies and startup ecosystems
Bukalapak CEO under fire for tweet about Indonesia’s R&D budget
Achmad Zaky is the latest top startup executive to get embroiled in a politically charged social media storm
#WahyooChallenge: From charity to publicity
Inspired by social media trends, the Wahyoo team came up with a way to give back to society, and found their idea going viral
In Indonesia, Ramadan goes hi-tech
From consumption to charity, tech startups have come to play a key role in Ramadan traditions in Indonesia
Indonesia transport ministry to regulate ride-hailing app discounts
Despite criticism from riders and drivers, the ministry will cooperate with business competition supervisor to curb excessive discounts and prevent price wars
Indonesian state enterprises launch e-wallet LinkAja, competing with Go-Pay and OVO
Even with a wider range of services and extensive state backing, LinkAja faces a tough battle
With universal QR code, Indonesia achieves e-payment harmony
The move to standardize Indonesia's QR code is expected to unify the country's cashless payments system and lift tens of thousands of small merchants into the payments mainstream
After emulating Chinese business models, Indonesian startups seek success abroad
Indonesia adapted and furthered the successful business models that created unicorns in China. Now, it's exporting its own to the rest of Southeast Asia, even beyond
Gojek CEO resigns to join Indonesia's new cabinet; named education minister
Nadiem Makarim was confirmed as Indonesia's education and culture minister and will become "a passive shareholder" in Gojek
E-wallet unicorn OVO’s future in question amid Lippo's divestment, talk of DANA merger
As even the conglomerate giant feels the pain of OVO's aggressive cash-burning, should digital payments players rethink their strategy to gain market share, beyond the usual discounts and subsidies?
Indonesia 2020: Investors say opportunities still abound despite downturn risk, past year's flops
VCs weigh in on deal flows, valuations, the sectors they favor, and chances of more tech IPOs
QRIS: Will the new QR code standard rewrite Indonesia’s e-payments scene?
Enabling interoperability, the QRIS seeks to level the playing field until now dominated by GoPay and OVO – disruption that could go beyond the e-wallets scene
UPDATED - Coronavirus: Indonesian startups launch tracking and healthcare tools, financial support
Amid a weak public health system, Indonesia's startups try to plug the gap with healthcare and monitoring tech solutions, while edtech and other online platforms see surge in demand amid social distancing
Gojek acquires Indonesian POS startup Moka, gains greater share of SME fintech market
Deal reportedly worth $120m will add Moka's network of over 30,000 merchants to Gojek's reach
Indonesia 2021 outlook: VCs "cautiously optimistic" on Southeast Asia's largest country
Investors expect Indonesian startups to regain their growth opportunities when the economy reopens with the Covid-19 vaccine rollout, even as some online living and working habits have stuck
Can Indonesia plug its tech talent gap to keep its digital economy growing?
Local institutions are stepping up to boost tech skills among students and jobseekers, as the government opens the way for more foreign talent joining startups
Gojek and Tokopedia merge to form GoTo
The new entity, now Indonesia’s largest tech group, plans to go public in Indonesia and the US, targeting a $40bn valuation
Southeast Asian startups to keep riding digitalization, IPO boom, investors say
O2O business models and growing interest in ESG are also key themes, as regional startups gain $4.4bn of funding in first half of 2021