Jakarta. Gita Sjahrir, the SEVP at BNI Ventures, said that iteration was key to developing Indonesia’s digital ecosystem.

At the recent 2023 BNI Investor Daily Summit, Gita shared her insight on Indonesia’s digital industry which has yet to mature and was often compared to that of other advanced economies like the US.

“Our tech industry is like a baby compared to countries who have developed their digital ecosystems since the 1970s. If you wish to compare our digital ecosystem, do so with Latin-American or African countries who are also still as new to this,” Gita was quoted as saying in a recent press statement.

“Because it is still new, there are still so many things to explore in Indonesia’s digital ecosystem. It has a huge growth potential and we don’t have to compare it to Silicon Valley. We can build tech startups that embrace our local wisdom to solve a particular issue,” Gita said.

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According to Gita, BNI Ventures is one of the corporate venture capitals that can accelerate digitalization by synergizing and investing in local fintech startups. Indonesia is still in recovery mode following the tech winter. And the spring season comes for the tech industry after the Covid-19 pandemic. The funding round in Indonesia saw a 353 percent growth in the third quarter of 2023, up from the second quarter of 2023. This shows that investors’ support plays a key role in the development of the fintech startup ecosystem.

“Digital growth is the result of experimentation. This means that in Indonesia itself digital iteration and reiteration are important. So we can make experiments from the failures to finally be successful later,” Gita said.

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