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Indonesia Targets 61 Unicorn Startups by 2045 Milestone

11 Dec, 2024
Indonesia Targets 61 Unicorn Startups by 2045 Milestone

Indonesia is setting an ambitious milestone for its digital economy, aiming to establish 61 unicorn startups by 2045. This target underscores the nation’s efforts to position itself as a leader in Southeast Asia’s digital landscape. Unicorns—startups with valuations exceeding $1 billion—are central to the government's vision of a thriving digital economy contributing up to 20.2% of the national GDP by 2045.

As of 2024, Indonesia boasts 15 unicorns and 2 decacorns, placing the country sixth globally in terms of startup density. The government has outlined a roadmap emphasizing innovation, ecosystem development, and regulatory support. Danang Sri Wibowo, Assistant Deputy for Digital Economy at the Coordinating Ministry for Economic Affairs, highlighted the nation's potential, noting that 35% of Southeast Asia's internet market is concentrated in Indonesia.

By 2030, interim targets aim for 23 unicorns and a digital economy contributing up to 13.4% of GDP. These steps are part of a broader strategy to integrate startups into the national economic framework, aligning with global trends while leveraging local strengths.

A key component of this initiative is data transparency. Under Government Regulation No. 80/2019, electronic commerce operators must report transactional and statistical data to the Central Bureau of Statistics. This data will serve as the foundation for crafting inclusive and sustainable economic policies. Failure to comply could result in administrative sanctions, including platform bans, as stipulated by Ministry of Trade Regulation No. 31/2023.

Experts view these targets as both a challenge and an opportunity. Indonesia’s expansive internet market and young, tech-savvy population offer fertile ground for growth. However, achieving these goals will require significant investment in infrastructure, human resources, and policy enforcement.

"The development of startups is critical to achieving a digitally driven economy capable of supporting national progress," Danang emphasized during a recent forum. His optimism reflects confidence in Indonesia’s capacity to harness its digital potential, bridging the gap between ambition and reality.

The path to 2045 will demand resilience, innovation, and collaboration across sectors. As Indonesia moves forward, it will serve as a case study for how emerging economies can transform through digital entrepreneurship.



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