Indonesia is in the sixth place among countries with the most startups, according to data from Startupranking.com.

As of 2023, Indonesia is home to more than 2,400 startups, Rudy Salahuddin, Deputy Minister of the Coordinating Ministry for Economic Affairs, told the 2023 Open Finance Summit in Jakarta on July 21, adding the country has great prospects as a digital economy giant, a senior government official has said.

Data from Startupranking.com shows that the US is in the lead with 74,944 startups. It was followed by India (15,405) and the UK (6,833), Canada (3,712)  and Australia (2,638). Indonesia ranks sixth with 2,486 startups.

It means that Indonesia is the only Association of Southeast Asian Nations (ASEAN) member in the top 10 countries with the most startups.

The deputy minister also said that many Indonesian unicorns came from the e-commerce and financial technology (fintech) sectors.

According to the official, Indonesia last year also accounted for 77 billion USD, or around 40% of the digital transaction value in the ASEAN region. The number is forecast to jump by twofold to 130 billion USD in 2025.

Source: VNA