Monk's Hill had a massive presence at Tech in Asia's Startup Asia Jakarta this year and we can not thank the entire TiA team for such a great conference. The quality of speakers, attendees, startups, and entrepreneurs was exceptional.
There is a lot of focus on Indonesia because of sheer population and high GDP, but unless one is on the ground interacting with the local startups, it's difficult to gauge the potential of this market beyond population and GDP.
Indonesians, adapt rapidly. New tools, technologies, and methodologies are embraced quicker by the masses than a lot of the surrounding markets. In only one year, the conference turn-out nearly tripled -- an outstanding year over year growth and proof of concept of how quickly things change in Indonesia.
Hanifa Ambadar, founder of femaledaily.com, mentioned 84% of Indonesian women convert on social media with Instagram leading the pack. Even if it takes multiple steps and even opening apps to complete a transaction on Instagram (Instagram -> WhatsApp -> receive code -> transact), people still shop.
We saw multiple local startups building products to solve local and regional problems like farming and domestic help.
The abilities of Indonesians to rapidly adjust to growth and change, is only one of the reasons that makes Indonesia such an attractive market.
Quick wrap-up from the partners:
Stefan took the stage several times -- here is the video of him judging the winner of the startup battle with Khailee Ng of 500 Startups, Jayesh Parekh of Jungle Ventures, and Willson Cuaca of East Ventures. The banter between the judges and entrepreneurs made the entire audience smile and even laugh out loud at times -- if you haven't interacted with any of the judges in person, this video will definitely give you an idea of their personalities. Watch it here.
Peng's keynote on 7 Elements You Need to Build a World Class Startup's video is here.
Kuo-Yi rocked the stage discussing Indonesian regulations with Mahendra Siregar, former chairman, Indonesia Investment Coordinating Board (BKPM), and Daneil Tumiwa, chairman of the Indonesian ecommerce Association.
There is no video (yet) but a few soundbites:
"(Regulations) are a chance for the Internet community to shape and flow government -- not work against."
"Genesis of sustainable sources of business: local knowledge, local operation."
Hopefully TiA will put the video up soon.
Thanks again TiA for such a great conference, getting the videos and photos up so quickly. And congratulations all around to such a successful event!