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uch has been said in recent years of Indonesia’s rise as a more prominent regional economic power. In large part, this optimism is hinged on the Southeast Asian (SEA) nation having the region’s largest population (and market) base, and a forward-moving economy, which averaged a robust gross domestic product (GDP) growth of 5.5 percent from 2011-2015.

Moreover, SEA now benefits from a fast-growing internet user base and growing internet economy. The recent study by Google and Temasek estimates that the current SEA internet user base of 260 million will rise to 480 million by 2020.

In line with this, the region’s internet economy is expected to grow to US$200 billion by 2025. It projects that Indonesia will be home to about 215 million of the region’s internet users and control about 40 percent ($80 billion) of the internet economy.

Further, progressive views on diversifying the country’s economic base has led to President Joko “Jokowi” Widodo’s vision of creating 1,000 IT start-ups by 2020. The current administration and the Communications and Information Ministry have identified specific drivers, necessary for this ambitious goal to materialize.

Among the most salient initiatives include the establishment of more favorable investment policies and fiscal incentives that can better attract and engage technopreneurs and foreign investors (i.e. ease funding funnels and foreign investment restrictions on domestic start-ups).

Support from the government is also expected through the provision of legislation that would create a more conducive operating environment for Indonesian start-ups (e.g. more efficient company registration processes, incubation facilities and financial assistance for tech start-ups). On a supporting note, Indonesia’s general business environment has continued a positive trajectory.

In the World Bank’s Doing Business 2017 report, the nation’s Doing Business ranking places the country at 91st place (from 190 economies), a notable climb of 15 points from 106th place in 2016.

Though there is prevailing optimism when evaluating Indonesia as an investment and start-up destination, there is the view that lofty expectations on the country’s emerging start-up sector will not be realized without considerable effort. There are after all, real hurdles to overcome.

For example, The Doing Business 2017 report ranks Indonesia 151 out of 190 global economies, in the “Ease of Starting a Business” index. The regional (APEC) average was pegged at 69, and only the Philippines scored lower than Indonesia at 171.

From an end-user (consumer) perspective, the same Google and Temasek study identifies among others; lack of payment mechanisms, low broadband penetration, lack of consumer trust as persistent ecosystem inhibitors for Indonesia — all of which are paramount considerations directly affecting the success of tech start-ups.

Furthermore, I would like to offer three questions for the various stakeholders to consider:

What role can foreign investors, entrepreneurs and employees play in the development of the Indonesian ecosystem? On one hand, Indonesians citizens should be in the best position to appreciate and exploit the opportunities their market has to offer. On the other hand, foreign entrepreneurs and investors may be able to provide significant value in terms of capital, network and insight.

Bringing in experienced international tech talent could help augment and nurture local tech talent. There is a balance that needs to be struck and there is no easy way to find it. Perhaps the journey to do so will best begin with the intention to strike that balance.

To help achieve President Jokowi’s vision of 1,000 tech start-ups by 2020, could ecosystem stakeholders help identify 1,000 opportunities to be pursued? For example, are there key areas that the country needs to prioritize like distribution, financial services, education or healthcare? Are there specific problems they want addressed? The point is that building start-ups for the sake of building start-ups will likely lead to the creation of many failed or low-impact businesses. These won’t move the needle.

Valuable businesses aren’t simply good ideas or based on cool technology. They solve meaningful problems and/or create fresh, addictive delight.

What is the Indonesian way to build it own tech ecosystem? It’s natural to study the successes in the US, China and maybe India to see what can be replicated. The danger is taking the lessons from these markets as gospel truth. After all, they each needed to find their own ways forward. At best, they offer clues on which hypotheses can be formed.

However, these hypotheses still need to be tested and refined because ultimately, Indonesia is unique and so is its path forward.

There are certainly no easy answers to these questions. We believe they can help spur dialogue and experimentation because it is through these that we will eventually find Indonesia’s way.

The next 10 years will be an exciting time for Indonesia and like many other believers in the country we hope to come along for the ride.
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The writer is managing partner, Wavemaker Partners. The views expressed are his own.