Where is ‘Indonesia’s Silicon Valley’?

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Hi readers,

Silicon Valley is often seen as the pinnacle of tech hubs. After all, it’s the birthplace – and home – of some of the world’s biggest tech companies. It’s no surprise then that many countries have attempted to replicate the success of the Valley by constructing their own versions of it, trying to put together all the resources to build a tech giant in one place.

In Singapore, there’s Block71. And in Indonesia, there are a few contenders vying to fill that role.

Today we look at,

• Indonesia’s Silicon Valley wannabes
• Some fresh funding for this fintech firm
• Other newsy highlights such as DoorDash’s entry into Japan and SoftBank’s latest investment

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PREMIUM SUMMARY

Building Indonesia’s tech hub

The idea of having a tech hub, where startups can develop and grow, is an appealing one. In Indonesia, several attempts have been made at developing one of its own. The latest contender, Bukit Algoritma, has some lofty goals, but securing the title of “Indonesia’s Silicon Valley” won’t be easy.

• From zero: Bukit Algoritma is starting from literally nothing. The plot of land that has been designated for the hub is currently empty, and its location – 120 km or a three-hour drive away from Jakarta – has led critics to think that attracting startup talent to the hub is going to be a tall order.
• Great ambition: However, the project does have a few things going for it. Bukit Algoritma has strong political ties and the ability to secure initial funding. Plus, infrastructural developments like a new toll road would make the site less inaccessible – although it’s certainly a project that will take years to bear fruit.
• The other options: Competition is tough though. Another strong contender for the title of “Indonesia’s Silicon Valley” is BDS City. The Jakarta suburb counts two unicorns – online travel agent Traveloka and super app Grab – among its tenants and has built an entire ecosystem for startups – from a strong fibre optic network to the presence of vocational institutes.

Read more: Will the real ‘Silicon Valley of Indonesia’ please stand up?

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STARTUP SPOTLIGHT

This bond-trading fintech firm bags the bucks

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Who will win US$5,000?

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