With over 250 million inhabitants, Indonesia has the world’s fourth largest population and Southeast Asia’s largest. Its youthful workforce has long been an untapped asset, but they are now taking things into their own hands. Inspired by the successes of unicorns like Go-Jek and Traveloka, more Indonesians are looking to the digital world to start their own businesses. it faces unique issues and growing pains. CompassList offers nuanced insights into the scene’s rising stars, its diverse and often fragmented markets, and how new players and investors can navigate this complex landscape.


Indonesia Agritech Report 2020: Startups, Investors and Outlook

Indonesia Agritech Report 2020: Startups, Investors and Outlook

Indonesia is one of the world’s largest agricultural producers, with farming contributing nearly 13% to the national economy. The sector has been in slow decline for decades, however, hurt by poor yields and falling income. In recent years, thanks to startups seeking to use technology to boost the sector, Indonesian agriculture has found a new lease of life. From our interviews with key local agritech companies and investors in smart shrimp farming, farm-to-table e-commerce and more, CompassList has produced an in-depth and insightful survey of Indonesia’s agriculture sector and its prevailing challenges, complete with outlook and recommendations.




Targeting the multibillion-dollar global games market, Alkemis Games wants to make world-class mobile games for mid-core players in Indonesia and abroad.

Touted as Indonesia’s biggest e-commerce speciality coffee supplier, Otten Coffee is gearing up to be a key player in the region’s gourmet coffee arena.


Rushan Faizal

Co-Founder and Digital Marketing Strategist of IWAK

Nganjuk native, Rushan Faizal, was also among the few students from the rural regency to pursue tertiary education at the Gadjah Mada University (UGM) in Yogyakarta where he majored in Computer Science. Besides Rushan, only three other students from his village, Kebon Agung, went to college. The economic disparity between urban Yogyakarta and his village inspired him and Nisa to set up IWAK, a crowdfunding platform for fish farms operated by the low income villagers in Kebon Agung. Prior to that, Rushan had also co-founded Meseji, a Web-based app to help SMEs automate their text message (SMS) marketing campaigns.

INSEAD graduate Edward Widjonarko holds a bachelor’s degree from Bandung Institute of Technology. As an undergraduate, he was on the Dean’s List for six consecutive semesters, and graduated cum laude in 2008 with a GPA of 3.97. Prior to studying for an MBA at INSEAD in Singapore, Edward worked as a consultant at Arghajata Consulting and then as a project manager at boutique corporate advisory firm AJCapital Advisory. At INSEAD, Edward met Cicil co-founder Leslie Lim.


Gemilang Dana Sentosa is an entity formed by shareholders of DOKU, one of Indonesia’s pioneering e-wallet services. Its most notable investment is in Bareksa, an online investment portal.

Grupara Ventures focuses on helping startups in the healthcare, retail, foodtech, fintech, biotech and design sectors to transform into global brands. It also provides business and networking support to the startups, including mentoring, office space and access to other investors and potential customers. Grupara has also co-invested and worked with angel investors, such as Mari Elka Pangetsu, Andy Zain, Bunga Citra Lestari, Ashraf Sinclair and Justin Kan.


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