Around The Block
Badung serves as a dependable market gateway into Indonesia, and across West Java
Indonesia is also Southeast Asia’s largest economy, and its most populous one. Its relatively young population of 268 million represents both a sizeable workforce and pool of consumers. The country saw steady economic growth of about 5% from 2016 to 20202. While the COVID-19 pandemic has resulted in a 2.1% dip in its Gross Domestic Product (GDP) in 2021, analysts expect Indonesia’s economy to recover3 as economic activity resumes in the coming months.
Majority of the population is young, with more than 40% of the population under the age of 24, and 85% under the age of 55. Urban consumers account for about 57% of Indonesia’s total population and is expected to reach 71% (209 million consumers) by 2030. These consumers are likely to be concentrated in its 12 large cities – including Jakarta, Medan, Surabaya.
These strong fundamentals make Indonesia one of Southeast Asia’s most attractive investment locations.
Credit: Enterprise SG
For BLOCK71, our programme hub in Bandung serves as a gateway to the West Java province via its capital with a strategic corporate partner - Salim Group's Innovation Factory.
Through this collaboration, we provide support to tap into the local thriving tech community and talent. Our workspace is strategically located along Dago St, with easy access to surrounding 28 IHLs and Bandung Digital Valley.
We provide support to emerging and thriving technology start-ups tackling challenges unique to Indonesia, with solutions scalable across the world. This includes:
- Smart, Sustainable Cities
- Future of Food
- Health & Wellbeing
- Industry 4.0
- Web 3.0