Observing Vietnam as Indonesia's Startup Destination for Expansion
Discussing with partners from Patamar Capital, Venturra, and East Ventures
The expansion success story is one of the benchmarks for business growth; It's no wonder that many founders openly conveyed this ambition on various occasions. Starting from national, regional, then global expansion. In the Indonesian startup ecosystem, several players have enough courage to expand overseas. The level is still regional, trying to work on the market in Southeast Asian countries.
Judging from the existing trend, expansion is generally carried out for two purposes. First is strengthening business operations, Singapore and India are by far the most favorite. Startups create operational offices or R&D centers. Second, the expansion opens up new market shares, increases users, and business traction. For this purpose, Vietnam looks more promising and becomes a priority.
Currently, there are several local startups that are also offering their services in Vietnam. Call it Gojek, Ruangguru, Traveloka, and PasarPolis. In a virtual discussion opportunity held by the Indonesian Embassy in Hanoi on August 12, 2020, Traveloka representatives said that before the pandemic their business had seen good growth and after the pandemic, various plans had been made including collaboration with various parties.
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