To date, startup performance is measured by its valuation. However, East Ventures Co-Founder and Managing Partner Willson Cuaca revealed a ‘recipe’ that can improve startup business performance, namely expanding digital penetration.
In fact, based on data from the East Ventures Digital Competitive Index (EV-DCI) 2020, there are several regions that have not yet adopted digital services. “There is still a gap in penetration into many cities. This means that Tokopedia can be even bigger (its business),” said Wilson at the Indonesia Data and Economic Conference (IDE Katadata 2020) organized by Katadata.co.id at the Kempinski Grand Ballroom, Jakarta.
According to Willson, Indonesia is a potential market with 171 million internet users. In the last decade, Indonesian startups have focused on building ecosystems.