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Jakarta Post

Big business 'rush' to invest in more start-ups to boost growth

  • Riska Rahman

    The Jakarta Post

Jimbaran, Bali   /   Tue, November 19, 2019   /  01:09 pm
The Jakarta Post Image
A PinjamDuit employee checks the a customer's ID card at its Gading Serpong office in Tangerang, Banten. The peer-to-peer lending start-up was one of the 127 financial technology (fintech) companies that registered with the Financial Services Authority (OJK) in August 2019.(The Jakarta Post/R. Berto Wedhatama)

Major Indonesian companies are actively seeking to invest in start-ups to boost innovation and to ensure the steady growth of their businesses. For example, publicly listed PT Astra International plans to invest in more tech start-ups over the next few years through its corporate venture capital (CVC) firm, PT Astra Digital Internasional. Astra International corporate strategy manager Andi Suwandi said on Nov. 14 that the diversified conglomerate was keen to invest in tech start-ups that could bring synergy to its business lines, such as automotive, financial services and agriculture. Aside from investing in start-ups like Gojek, he said, Astra Digital had also established its own tech start-ups to develop innovations for the business lines of its parent company. Astra Digital's self-established st...