ASEAN KEY DESTINATIONS
Indonesian Internet users should attract investors
Indonesia’s large population and growing Internet use will draw tech entrepreneurs to expand their business here, an investment manager says.
James Chan, a Singapore-based investment manager at Neoteny Labs, said Indonesia showed similar patterns in its Internet-based business development as two other large Asian markets, China and India.
For Singapore-based tech entrepreneurs, he said, Indonesia is the most sensible choice as it is the largest Southeast Asian country with a large user base for its national language. Singapore, on the other hand, has a small population and a mature market.
“Outside of the Silicon Valley in the US, every other country is still figuring out how to build their Internet start-up ecosystems,” Chan told the Jakarta Globe on Sunday.
Neoteny Labs is a venture capital group that provides seed funding for potential Web start-ups in Asia and the Middle East.
Reports from global consulting companies and Facebook, one of the world’s most popular social networking sites, echoed Chan’s view on the prospects of Internet-based businesses in Indonesia.
A Boston Consulting Group report in September 2010 showed Indonesians were among the world’s most avid users of social networking sites. More than 31 million of the country’s 238 million people use the Internet, a figure expected to increase to 94 million by 2015, it said.
According to Facebook data, Indonesia is the second-largest market for the company with more than 35 million active accounts, about 5.6 percent of total Facebook members.
International social media monitoring agency Sysomos reported in January that Indonesia was the sixth-largest Twitter user in the world and the largest user in Asia.
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