For Indonesian startups, strong foothold in local market is first priority

(left to right) Hendrik Susanto of Traveloka, Winston Utomo of IDN Media, Melisa Irene of East Ventures (moderator), Ashish Saboo of General Atlantic, and Jeffrey Yuwono of Sorabel at the Indonesia PE-VC Summit 2020 in Jakarta. Photo: DealStreetAsia

Indonesian startups wanting to expand in the region would need to establish a solid foothold in the local market first and then ensure that their products are customised to the needs of the different markets, according to panelists at the recent Indonesia PE-VC Summit in Jakarta.

“We should get to profitability here in Indonesia before looking elsewhere,” said Jeffrey Yuwono, co-founder and CEO of Indonesian Gobi Partners-backed fashion e-commerce startup Sorabel.

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