JAKARTA (Reuters) – Indonesia wants southeast Asian nations to cooperate in helping startups in the region worth at least $1 billion expand outside their home countries, the communication minister said on Friday.
Indonesia’s Minister of Communication and Information Technology, Rudiantara, gestures during an interview with Reuters at his office in Jakarta, Indonesia August 9, 2018. REUTERS/Willy Kurniawan
The effort aims to keep foreign startups from dominating a market of 640 million people by assisting the region’s estimated seven to ten unicorns, or companies that have attained a valuation of $1 billion without tapping the stock markets.
“I’ve discussed this strategy with other ministers in Southeast Asia and have offered to everyone to adopt existing unicorns and have a presence in each other’s countries,” Minister of Communication Rudiantara said in an interview.
“I’m really passionate about the issue and have discussed it at our last Association of…