Indonesia Records Highest Startup Investment Growth in ASEAN during H1 2023

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Erlina Fury Santika 10/09/2024 19:10 WIB

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According to Cento Ventures, Indonesia experienced high startup growth in the first half of 2023, followed by Singapore and Thailand.

Southeast Asia Startup Investment Growth Percentage (First Half of 2023)

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Southeast Asia Startup Investment Growth Percentage (First Half of 2023)

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Based on data from Cento Ventures, Indonesia recorded the highest growth in capital injection or startup investment among ASEAN countries in the first half of 2023. Its growth proportion reached 48%.

This proportion decreased from 50% in the first half of 2022 but increased from 39% in the second half of 2022.

Following Indonesia is Singapore with a proportion of 30%, up from 19% in the first half of 2022 but down from 33% in the second half.

Vietnam and Malaysia came in third and fourth, respectively, with the same proportion of 7% in the first half of 2023.

Thailand followed with 6% growth. Lastly, the Philippines is estimated at 1%-2%.

Cento Ventures did not provide exact figures for the Philippines, which experienced the lowest growth among the other countries. According to Cento Ventures, the narrative of the Philippines as "the next Indonesia" is no longer supported by the availability of late-stage growth capital.

Meanwhile, Malaysia is supported by government-directed capital distributed through venture capital firms, government funds, and corporate investments, such as the Penjana Fund.

Cento Ventures notes that the distribution of venture capital investment across the region is still inconsistent with the underlying economic size.

Editor : Erlina Fury Santika

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."

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Indonesia Records Highest Startup Investment Growth in ASEAN during H1 2023

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Indonesia Records Highest Startup Investment Growth in ASEAN during H1 2023

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