Growing digital ventures in Indonesia and the region: Comment

TechinAsia reported that as of June no less than 3,000 employees working in the technology start-up sector have been laid off in China.

Many big-technology entrepreneurs, backed by strong funding, believe in the growth-first path. This perspective is behind the aggressive expansion of recent technology start-ups. Many of these ventures introduce new technologies and therefore, rapid rollout to the market is necessary. In contrast, Per Davidsson and his colleagues in 2009 found that ventures focusing on low growth and high profit would yield higher growth rate in the following period. This study is validated recently in a newly published paper with more data, and it means that the original conclusions are robust.

This recent phenomenon and the research seem to agree. So, what are the lessons learned for technology entrepreneurs and governments in the Asean region in general and Indonesia in particular? Yet, we still do not know much in this area due to scant research in the technology start-up context. More research is needed, and the government may provide funding for this particular research agenda. Second, in the last decades, entrepreneurship has become very popular in the region.

Establishing an ecosystem to support the growth of these embryo ventures is therefore imperative. The enabling ecosystem consisting of education institutions, funders and governments should foster incubation and commercialisation efforts for these start-ups.

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