DSInnovate Launches “Startup Report 2023”, Discussing the Dynamics of Indonesian Startups

DSInnovate, research unit of DailySocial.id, has just released the Startup Report 2023. This is an annual report that reviews the dynamics of the startup ecosystem in Indonesia in the last year.

The picture of the ecosystem in 2023 is interesting to know, there are many reasons founder and investors say that tech-winter still very much felt last year. This is proven by the data presented in the report, that this happened decrease in total funding reached 33,19% compared to the previous year. This is also a downward trend that has occurred successively after the pandemic, bringing investment returns back to pre-pandemic levels.

Apart from funding, the 2023 Startup Report also discusses a list of managed funds whose rounds have been successfully closed by venture capitalists for Indonesian startups. There is also data on M&A trends involving local startups and perspectives on eventual startups do pivots or close the business unit.

This report also raises perspectives from stakeholder in the industry, to get comments on certain discussion topics. For example, Baskit Founder & CEO Yann Schuermans, provided an overview of digitalization trends in the manufacturing and distribution sectors. He said that one of the biggest 'killers' in this business is 'asset heaviness', when business people focus too much on inventory and take on too large a credit position.

It cannot be denied that over the last two years, digitalization in the distribution sector has been intensively carried out by innovators, both through B2B Commerce and Digital Supply Chain models.

To get a complete picture, including projections of sectors that will become trends in 2024, download the Startup Report 2023 via the following link: Click here.

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Disclosure: Mandiri Capital Indonesia and Xendit supported the development of this report