Tech companies, many of them just a few years old, are transforming traditional industries today. Take Tokopedia for instance. The first Indonesian unicorn dreamt of uniting buyers and sellers dispersed across the country’s 17,000 islands through an online marketplace. The company had to reimagine online payments, with seven out of 10 people in Indonesia not having access to banking services. It is astonishing to think that more than a decade ago, it took Tokopedia two years to raise the initial capital to start the business, as its e-commerce model was new to the region then.
But times have changed. Southeast Asia’s emerging tech space is drawing attention — and investment — globally, from Silicon Valley to Shenzhen and Tokyo. Of Southeast Asia’s 11 tech unicorns, five of them attained that status in just the last two years. An exciting phenomenon is powering the rise of such transformational tech companies today. I call it technification.
TECHNIFICATION IS TRANSFORMATION DONE RIGHT
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