In a panel at East Ventures’ 10th Anniversary event, founders of Ruangguru & Sociolla shared how they built their startups and hit inflection point.
According to Chng Kai Fong, the biggest challenge faced by the digital economy ecosystem in Southeast Asia is the lack of talents.
The biggest challenge for unicorn startups is how to align the company's vision among talents and how the company can continue to evolve.
"There is a lot of gut feeling, but at the same time, you can sense it. Investing is indeed an art, it’s not really a science," Willson said.
Mr. Franky’s (East Ventures' first LP) first encounter with East Ventures happened when he had a chance to visit its Japan office in 2012.
Mr. Rudiantara said that the key to the development of digital economy in Indonesia is the shift of government’s role from the regulator to the facilitator.
Mr. Thomas Lembong also recalled how he met Willson Cuaca for the first time when he was still a VC eight or nine years ago.
According to Mr. Luhut Binsar Pandjaitan, Coordinating Minister for Maritime Affairs and Investments, Indonesian economy is showing a positive trend.
"Memang memerlukan insting, namun kamu akan bisa merasakannya. Investasi memang lebih menyerupai seni, bukan ilmu pasti,” ujar Willson.
Right now, East Ventures has invested in 160 companies with their SEA fund, and their portfolios have created a huge ecosystem in Indonesia.