4 Important Events in Indonesia’s Startup Industry Throughout 2019

The startup industry in Indonesia has grown since the last few years. Not only in terms of an increasing number of startups but also the benefits generated from this industry.

Indonesia currently has four startups with unicorn titles, namely Traveloka, Ovo, Tokopedia, Bukalapak, and one decacorn namely Gojek. Unicorn is a term for startups with a valuation of more than USD 1 billion, while decacorn has a valuation of USD 10 billion.

Throughout this year, there have been some interesting stories in the startup industry in the country. Starting from business expansion, until the departure of CEOs. These are the 4 important events in the startup industry that occurred during 2019.

Gojek’s Expansion in Southeast Asia

Gojek began its expansion in Southeast Asia last year by attending in Vietnam, Thailand, and Singapore. Not only expanding its services in the national capital, but Gojek also visited various regions outside it.

Gojek through the on-demand application Get in Thailand, this year expanding its services to 14 regions. Earlier this year, Get services were available at Chatuchak, Lad Prao, Wang Thong Lang, Sathorn, Bang Rak, Klongtoey, Yannawa, Bangkapi, Ratchathewi, Pathumwan, Phyathai, Beung Kum, Bang Kho Laem, and Rat Burana.

Services offered by Get in Bangkok are ride-sharing and shipping couriers. Get was first present in three areas of Bangkok, Chatuchak, Lad Prao, and Wang Thong Lang in December 2018. At that time, the Get application was still in beta for trial and service improvement processes.

Successfully present in Vietnam, Thailand, and Singapore, Gojek this year plans to pave in Malaysia and the Philippines. However, the plan did not go smoothly. Gojek initially faced rejection from local business people in Malaysia, until finally the company was allowed to operate on a limited scale from January 2020.

Gojek has signaled that it will expand to Malaysia and the Philippines next year. Gojek’s co-CEO, Andre Soelistyo, said he was preparing various things for the expansion.

The founder of Gojek, Nadiem Makarim, Became the Minister of Education

Another important event of the Indonesian startup was the appointment of Gojek’s founder and CEO, Nadiem Makarim, as Minister of Education and Culture (Mendikbud) in the Advanced Indonesian Cabinet. He was inaugurated by President Joko Widodo at the State Palace on Wednesday (10/23/2019).

Nadiem is one of the successful young entrepreneurs in Indonesia. Its popularity has skyrocketed as the success of the ride-hailing company it founded in 2010, namely Gojek. Kevin Aluwi and Andre Sulistyo were appointed as the co-CEO’s following Nadiem’s departure from Gojek.

Ruangguru’s Founder Becomes Jokowi’s Special Staff

Adamas Belva Syah, also known as Belva Devara, was appointed by President Joko Widodo (Jokowi) as the president’s special staff.

He was born in Jakarta, May 30, 1990, is a co-founder and CEO of a startup engaged in the field of edtech or educational technology, Ruangguru. He formed a company with his best friend, Muhammad Iman Usman, in 2014.

Belva achieved a double degree, an MBA (Master of Business Administration) from Stanford University, and Harvard University with a major in Public Policy. After graduating, in 2016, he decided to focus on improving education in Indonesia, and served as CEO at Ruangguru.

His achievements over the past few years have brought Belva into the list of the 30 most influential young entrepreneurs in Asia by Forbes Magazine in 2017.

Achmad Zaky Released the Position of CEO of Bukalapak

Another shocking event at the end of 2019 came from Bukalapak. Achmad Zaky relinquished the position of CEO of Bukalapak, and handed that position to Muhammad Rachmat Kaimuddin.

Zaky remains active in Bukalapak as an advisor. He will also remain active as a tech startup mentor. After relinquishing the post of CEO, he will become chairman of the Achmad Zaky Foundation which he will soon establish.

He believes Rachmat is the right person in leading the wheels of the company. “I believe Rachmat is the right person, part of the right team, in the right position, and coming at the right time,” he said.