Startup Report 2023

The "Startup Report" is DS/Innovate's annual signature publication, meticulously crafted to encapsulate the evolving landscape of Indonesia's tech-startup industry over the preceding year. In the context of the persisting tech-winter, 2023 has emerged as a particularly formidable period for numerous startup founders and venture capital investors, rigorously testing the resilience of an ecosystem cultivated over the past decade.

This report is structured around three main discussions. It commences with an in-depth analysis of the digital economy's trajectory in 2023, followed by a thorough examination of the startup ecosystem's current landscape, and concludes with forward-looking projections of the emerging trends anticipated in 2024.

Among its notable findings is the marked decrease in investment funding observed throughout 2023, representing a significant trend deviation from previous years.

Another key highlight of the report is its focus on the shifting investor interest towards startups with a tangible societal impact, particularly within the green startup. This trend underscores an increasing investor inclination towards ventures in climate-tech and the development of infrastructure for electric vehicles, signaling a paradigm shift in investment priorities.

The report covers these critical discussions and delves into a wealth of other data and insights. The full report is available for download via the provided button to gain a more detailed and nuanced understanding of these findings.


Disclosure: Mandiri Capital Indonesia and Xendit support the development of this report

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