Indonesia represents almost 40% of the economic output of Southeast Asia and is now rising as the next market for Chinese companies looking into Southeast Asia market for a number of advantages.
In the “Startups in Indonesia” panel, Adrian Lee, managing partner at Convergence ventures and Weihai Liew, CEO and founder of Mainspring Technology, concluded that Indonesia needs more talent.
They said Chinese entrepreneurs and investosr should look into this booming market, with Adrian mentioning “China will be to Indonesia what US was to China.”
Convergence Ventures is one of the largest VCs in Indonesia with an early stage technology venture fund that has invested in 30 companies in Indonesia over the years.
Mainspring Technology is a mobile apps and games company based in Jakarta focusing on the Android platform in Indonesia.
The company made an AI-driven news app that works like Jinri Toutiao in China and is actually backed by Jinri Toutiao.