As Southeast Asia’s largest economy, Indonesia has seen the birth of more than 10 unicorns over the past decade. It is home to some of the biggest tech startups such as GoTo, Bukalapak and Traveloka. Founded between 2009 and 2012, these companies have produced dozens of so-called “tech mafia,” a term used for former executives who quit to build their own tech firms.
Intriguingly, these new startups have come up at a time when the country’s tech industry has been grappling with several challenges in the past two years, especially the COVID-19 pandemic in 2020 and market corrections this year.