Sign up for the Daily Newsletter, sent exclusively to our Premium subscribers. We break down the big and messy topics of Asia’s tech and startup community. Get the newsletter in your inbox everyday with a Premium subscription.
Hi readers,
Singapore is a really small country, and it’s pretty common to have closer-than-expected connections with the people around you. For example, though we’d never met before working together at Tech in Asia, Stefanie (one of my fellow writers on the Studios team), Melvin (my boss), and I are all from the same secondary school.
Connections are also apparently really important to succeed as a tech firm in Indonesia. Today’s premium article explores the rising trend of former public officials joining the boards of tech companies in the country. Is it necessary? What’s the impetus behind these appointments? Read on to find out.
Today, we look at:
- What ex-public officials can bring to Indonesian tech companies
- It’s raining US$20 million in this Rainforest
- Other newsy highlights such as PayPal’s latest BNPL move and Byju’s acquisition of yet another exam preparation platform
PREMIUM SUMMARY
It’s about who you know
As tech firms grow and take on a bigger role in everyday life, they’ll inevitably cross paths with the government. Play the relationship right, and everybody wins; play it wrong, and the banhammer comes out. Just look at the Chinese government’s recent actions against Big Tech in its backyard.
That’s one of the reasons why Indonesia’s tech giants are adding former public officials to their boards. A little bit of social lubricant goes a long way.
- Making sense of the rules: Indonesia’s laws can sometimes be vague enough that multiple interpretations may arise, so having someone who can help guide you through the process, especially when new rules are issues, is invaluable.
- Even VCs do it: East Ventures appointed Triawan Munaf as venture advisor in February 2020. During Munaf’s time as the head of Bekraf, the statutory board that oversees Indonesia’s creative industry, he was just one level below a minister.
- Not just about politics: Yenny Wahid, previously a commissioner at national airline Garuda Indonesia, joined Bukalapak’s board of commissioners in May. For her, Bukalapak’s focus on microbusinesses and small, and medium-sized enterprises was the main attraction.
Read more: Former public officials joining tech companies: a rising trend in Indonesia
STARTUP SPOTLIGHT
The hill and the rainforest
Stay updated on the go with our mobile app.
Get latest insights with smoother, more personalized experience through TIA mobile app.
