Photo source: Techstartups.com
Having four unicorn start-ups, Indonesia aims to have more than five in 2019 and the Kementerian Komunikasi dan Informatika Republik Indonesia, or Kominfo, has been pushing all of the country’s most valuable start-ups to earn their unicorn title. For those of you who don’t know, ‘unicorn’ is a title given to start-ups having value more than US$1bn—companies like Uber, Xiaomi, and Airbnb.
At the moment, Indonesia boasts four unicorn start-ups: GO-JEK, Tokopedia, Bukalapak and Traveloka. With the government’s support, we can cross our fingers as our local start-ups thrive and make their way to success. Read below to see our picks of which companies we believe will earn their unicorn title and what makes them so valuable.
Photo: Courtesy of OVO
Starting out as a standalone payment app, OVO was backed by the Lippo Group—which, in return, gives OVO one sustainable advantage: to tap into Lippo Group’s companies and grow as they growth. OVO has the potential to become Indonesia’s next unicorn start-up as the brand grows—with the business expanding to accommodate Grab and Tokopedia, OVO can easily tap to those companies’ growth and benefit itself. Not to mention the other companies it also supports.
Photo: Courtesy of Snapcart
Founded in 2015, Snapcart has become one of the most unique customer data providers for clients and companies. With its mobile app, Snapcart allows customers to upload their receipts for offline purchases in return for cashback that can be cashed out when the Snapcart balance reaches a certain minimum amount. With their business expanded to the Philipines, Singapore, and Brazil, Snapcart has a strong potential to be the next unicorn start-up.
Photo: Courtesy of TaniHub
Indonesia is undeniably an agricultural country—yet our very own local farmers receive so little support to grow and thrive amid an aggressive marketplace. This is where Tanihub comes into play. Connecting farmers to the digitised market, Tanihub builds their business by enabling local farmers’ fresh products to be available to a wider array of buyers. The intention here is pure, and the success of Tanihub will surely make a great impact on our local farmers’ livelihoods.
Photo: Courtesy of CoHive
Stated by the Kominfo as the next potential unicorn start-up in Indonesia, CoHive provides individuals and companies access to unique and productive ecosystems for them to grow in. The main concept itself was very eccentric in its entirety, connecting workers with other like-minded professionals and entrepreneurs as well as managing community events such as insightful workshops and Game of Thrones viewing nights. With a concept as irresistible as that, it wouldn’t be a big surprise to see it as Indonesia’s next unicorn start-up.
Photo: Courtesy of Bridestory
Another start-up that earned the confidence of the Kominfo is none other than Bridestory. This wedding-planning service helps you make your wedding dream comes true with very specific selections, starting from your vendor to your colour theme, which you can customise according to your taste. Having expanded to Singapore, Bridestory and its niche product has set its sights on the whole of Southeast Asia.