The tiny island of Singapore has had an outsized influence on Southeast Asia's startup ecosystems, and Indonesia is no exception. Global and regional investors use Singapore, a trusted financial hub, as a launchpad from which to invest in Indonesian companies. Many Indonesian startups have incorporated their businesses in Singapore or used the country as a stepping stone for expansion. Four of Indonesia's five unicorns – ride-hailing firm Gojek, online travel agent Traveloka and e-commerce marketplaces Tokopedia and Bukalapak – have expanded to Singapore or opened R&D outposts there.Indone...
