Start-Ups Explores New Potential Sectors
Indonesian start-up scene moves full steam ahead with the enthusiasm of its relatively young players, venture capitals are calling on promising start-ups to embrace the future and new trends.
Andi S. Boediman, co-founder of local venture capital Ideosource, says that while the Indonesian e-commerce and fintech industries are still promising for newcomers, he said opportunities in other sectors should be considered as well.
Ideosource houses 22 start-ups in its portfolio, the most notable being long-running e-commerce platform Bhinneka.com, which Andi describes as the most scalable to commence an initial public offering (IPO).
In terms of the IoT market in Indonesia, it is still relatively unseen, but it is estimated to have a potential market value of US$1 billion by 2020, according to multinational conglomerate General Electric's (GE) estimate.
The challenges for IoT industry start-ups, Wayah added, would be in monetizing services, as products that were merely "devices" and did not offer any solutions would not sell well.
With the right moves, the Indonesian IoT sector would be able to have a valuation of $1 billion by 2020, GE estimates.
Particular trends he noted for 2018 were the internet of things (IoT) and data analytics sectors, which were expected to be supported by more corporate investment.
There are also 10 biggest start-up opportunity for this year. Most hot startups in 2016 won't be trying to lead revolutions or usher in whole new industries. One is wearable in the enterprise wherein consumers already embraced wearable technologies, such as Fitbit and other activity-tracking products. In the enterprise, however, the wearables market is still "nascent but shows promise," according to Ludo Ulrich, head of startup relations for Salesforce.
Some of the 10 big start-ups are consumer IoT and 'smart home', consumer privacy protection, counter terrorism technologies, cyber security services to protect enterprises, financial tech in emerging markets, digital health and big data, the uberization of manufacturing, autonomous cars, and space exploration.