In brief: Indonesian minister proposes unicorn swap to get Go-Jek green light in Manila

Rudiantara suggested that a Filipino unicorn could enter Indonesia if Go-Jek could enter the Philippines in return. One of the unicorns that Rudiantara wants to be present in Indonesia is Revolution Precrafted. “Only one requirement: allow Go-Jek to be in Manila,” he said. “There isn’t yet [a startup like Revolution Precrafted] in Indonesia.”

Source: Katadata (in Indonesian)

The comments from Rudiantara, Indonesia’s minister for communications and information technology, come after the Philippine Land Transportation Franchising and Regulatory Board denied Jakarta-based Go-Jek’s application to operate a ride-hailing business in the country.

Revolution Precrafted, which designs and distributes prefabricated designer homes, became the Philippines’ first unicorn following its series B fundraise in October 2017.

Speaking at a seminar in Jakarta, Rudiantara suggested that the Philippine startup could help with the Indonesian government’s ongoing program to build a million new homes each year. But its entry could depend on the Philippines’ willingness to overlook the foreign ownership rules that reportedly scuppered Go-Jek’s license application.