Many meetings were held during the 43rd ASEAN Summit in Jakarta. One was the ASEAN-Indo-Pacific Forum (AIPF): Startup Connect, successfully held on 5-6 September 2023. The AIPF Startup Connect event is the result of collaboration between the government and the business sector (Government-to-Business) involving the Indonesian Ministry of Foreign Affairs, Google, and Impaccto.
The presence of AIPF serves as a platform for partnership and collaboration. This is due to the position of ASEAN, which has much potential despite facing various challenges in the future.
As a promising business potential, it is estimated that the digital startup business in ASEAN could reach USD 1 trillion by 2030. To achieve this, digital startups need support and encouragement through innovation and collaborative facilitation within the ASEAN region and the Indo-Pacific.
Therefore, Startup Connect activities are expected to be a promising business and investment opportunity. Thus, it can create many new successful startups, even reaching unicorn and decacorn status.
Startup Growth in the Southeast Asia Region
The presence of startups in Southeast Asia is growing rapidly. This cannot be separated from the strong adoption of technology by people in the region. According to databoks.katadata.co.id, as of June 14, 2023, Southeast Asia had more than 4,000 startups, with 39 labeled unicorns.
Indonesia ranks first with the largest number of startups in Southeast Asia. Half of the total startups in the Southeast Asia region are in Indonesia, which is about 2,383 startups. This achievement has made Indonesia the 6th country with the most startups globally.
Singapore came in second with 1,102 startups. The Philippines is third with 331 startups, and Malaysia is fourth with 316 startups.
The rapid growth of startups is a perfect start. This is because startups are part of the ecosystem of the digital economy, which has much potential for further development. So, in the future, it can contribute to a country's economy.