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It’s so interesting how certain words or names have become so synonymous with what they are. Examples include calling all paracetamol-based medicines “Panadol” or saying “Kleenex” instead of “tissues,” assuming US media has portrayed that accurately.
There’s a lot of power in names, and one of the biggest in the tech sector is Silicon Valley, which has become almost like a pilgrimage site, such is the respect that it’s given.
Because of that, we’ve seen a lot of attempts to replicate it outside of California. Many locations have tried to dub themselves as the “Silicon Valley of the (insert region here).” Have those initiatives met with success? Indonesia’s Sinar Mas Land is developing such a place, but there are many factors at play.
Today we look at:
- How Sinar Mas Group’s property development arm is developing Indonesia’s Silicon Valley
- Looming layoffs at Amazon and Salesforce
- Other newsy highlights such as Huobi’s aim to reach 100 million users and an e-grocery firm’s closure
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Creating Indonesia’s own tech hub
Image credit: Timmy Loen
Successfully creating your own version of Silicon Valley is a tough task for any firm, but Sinar Mas Group appears poised to take up the challenge. Its property development arm, Sinar Mas Land, is now prioritizing digital transformation and has two major projects in the works: Living Lab Ventures (LLV) and Digital Hub.
- Keeping options open: LLV, an investment unit for startups, has three areas of focus: strategic investment, incubation, and venture building. Though it’s part of a property firm, it’s open to investing in companies that can develop solutions to urban issues, regardless of sector.
- Tony Stark was able to build this in a cave!: Thankfully, startups in BSD City, Sinar Mas Land’s designated innovation lab, won’t need to make their products in a cave. BSD City is a 6,000-hectare area that the company has been developing since 1999. It has a controlled environment with manageable risks, making it suitable for startup founders to test their products.
- Big spending: As for the Digital Hub, which is meant to be an innovation center, Sinar Mas Land has already disbursed US$96 million to build its infrastructure. The total budget for the project is estimated to reach US$384 million by 2029.
Read more: Sinar Mas Land’s dual approach to create Indonesia’s Silicon Valley
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