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Jakarta Post

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

  • Riska Rahman

    The Jakarta Post

Jimbaran, Bali   /   Wed, November 20 2019   /  01:59 am

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 start-ups include Seva.id, an online automotive marketplace, and Movic, an online car rental plat...