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Australian VCs, start-ups eye Indonesia's health tech, software sectors
Australia has launched its largest tech mission to the region since the pandemic with its nine-day Southeast Asia Tech Immersion Mission, which includes a stop in Indonesia.
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Haymarket HQ executives (from left) CEO Duco van Breemen and program manager Isabelle Lee pose with Arkblu Capital CEO Francisco Widjojo and OneQode cofounder Ben Cooper for a photo on Sept. 26, 2023 in Jakarta. (The Jakarta Post/Ruth Dea Juwita)
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ifteen Australian tech companies and investors from the Tech Central area in Sydney are exploring opportunities to expand into Indonesia in the Southeast Asia Tech Immersion Mission.
Australian go-to-market accelerator Haymarket HQ said some delegates had visited Jakarta as part of the nine-day program that began on Monday.
The tech mission is funded by Investment New South Wales and aims to support Australian venture capitalists (VCs) and start-ups seeking opportunities in the region.
“The mission’s objective is to support Australian tech companies and investors in expanding their market presence in Southeast Asia, with a particular focus on Indonesia due to its long-standing relationship between the two countries,” Haymarket HQ CEO Duco van Breemen told The Jakarta Post on Tuesday.
Van Breemen has identified three sectors in Indonesia ripe with opportunities: the health industry, simple software solutions and electric vehicle (EV) infrastructure.
Indonesia’s digital economy is projected to reach gross merchandise value (GMV) of between $220 billion and $360 billion in 2030 at a compound annual growth rate (CAGR) of 19 percent since last year, according to the 2022 e-Conomy SEA Report from Google, Temasek and Bain & Company published in November.
It was expected to reach a GMV of US$130 billion in 2025 after contributing 38.5 percent of ASEAN’s digital economy potential in 2022, the report said.
