Digital momentum in Indonesia – over 200 startups from Indonesia, Malaysia, Singapore and other SEA market together with near 50 venture companies / investors participated at the Indonesia’s Ultimate Tech Conference. The enthusiasm and innovative thinking of startups are expected to drive the economic wheel and entrepreneur spirit.

The development of the digital economy and industry in Indonesia is experiencing rapid change. Many startups are hoping on the mobile bandwagon and capitalizing on the digital technologies to compete with larger players that are stuck with slow moving organisations and technology. A few areas of development and opportunities that was discussed during the conference:

  • FinTech: The financial service industry is shaken by the emerging FinTech industry and the solutions the startups brings to the market. Indonesia is a ‘must go’ market however, some challenges exists. The limited understanding of the benefits with electronic money, how to get the money into the system, restricted amount for electronic money and accounts etc. Once they understand how it helps their life people will continue using it without any doubt.
  • Mobile advertisment and customer communication: Your product is amazing and but how do you turn your small circle of early adopters into an army of fans? Know your customer and go digital early, are key success factors. Using the digital channels for marketing and customer communication is both cost effective and reach a larger part of the market. Nowadays more and more indonesians are using their mobile phones to get online.
    • Growth of mobile ads is forecasted to grow steadily until 2019. Yet the total ad market in Indonesia, including ads appearing on traditional media, is predicted to skyrocket to 19.6 BUSD. Digital and mobile ads are expected to contribute around $7.6 billion.

These and other topics were covered and discussed during Indonesia’s Ultimate Tech Conference. Speakers sharing their knowledge and information were Indonesian Minister of Trade, Startups, Bankers, Mobile operator, Ventures and other International companies (Amazon, Lazada, Grab Taxi, RedMart and many others).

If you are interested in exploring the digital opportunities in Indonesia, then Tick Tock Consulting are ready to assist you.