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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.


The Big Picture
Bright Ideas
The Big Picture


Ahlijasa gets the laundry done the appy way, with fast and efficient door-to-door pickups and deliveries for busy urbanites.

Indonesia’s fourth unicorn, Bukalapak continues to offer easy, safe online shopping in a vast marketplace, while scaling up to new businesses, e.g., mutual fund investments.


Steve Wirawan

Co-founder and CEO of Storial

First-time entrepreneur Steve Wirawan graduated in 2009 from Penn State University, USA, with a double major in Marketing and Economics. He then returned to Indonesia and worked as a research associate at Citibank until 2012. He worked as a real estate consultant for over two years before becoming the co-founder and CEO of digital storytelling platform Storial in 2015.

Arifin Asydhad

Co-founder and Editor in Chief of Kumparan

Arifin Asydhad, a graduate from the University of Padjajaran, is a self-professed workaholic. Hailing from Bogor, Arifin is known to often work until 9 pm as a journalist. As the former director and editor in chief of Detikcom for almost 17 years, he has accompanied Indonesian government officials on visits to China and Brazil. However, Arifin left Detikcom in September 2016 to help ex-Detikcom seniors and colleagues to establish Kumparan in November.


Established in 1996, Celebes Capital (PT Celebes Artha Ventura) is a venture capital fund mostly operating as a venture builder but also has the flexibility to invest as minority shareholders. Initially formed as a stock investing company, it did not begin private investing until 2000.It was founded and is headed Hendrick Kolonas, who currently serves as its CEO and President Commissioner. Kolonas spearheaded the company's investments into financial services business including SMS Finance, Jaya Proteksi Insurance, Pan Pacific Insurance, as well as the automotive distribution and mining industry.Kolonas founded and managed Bank Tiara, and spearheaded its public offering within 4 years from founding. In 1998, Kolonas became the CEO of PT Adijaya Guna Satwatama, a privately owned integrated agribusiness company for a number of years.With colleagues, Kolonas founded PT Wahana Ottomitra Multiartha, whose business is in motorcycle consumer financing. The company went public in 2007 and sold to a group of consortium of PT Bank Internasional Indonesia (BII) and the International Finance Corporation (IFC).Kolonas also contributed to Japfa Comfeed Group as a Head of International Division. The Group is based in Singapore and its main business is consumer foods and agribusiness industry. At the present, he sits on the Executive Committee of Japfa Comfeed Group.Kolonas holds a Bachelor of Arts degree with honours in Accounting and Finance from Middlesex University, England and a Masters in Business Administration from University of Hull, England.Kolonas' daughter, Marcellina Claudia Kolonas, founded the investment fintech Pluang.  

Founded in 2010 by Martin Hartono, son of Indonesia’s richest man Robert Budi Hartono, GDP Venture is a venture capital firm focused on digital communities, and media, commerce and solution companies in the Indonesian consumer internet industry.


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