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Scalability is increasingly becoming a key focus across various industries even beyond tech startups. There has been a notable surge in investment within Indonesia’s traditional business sectors, highlighting the growing opportunities and innovation across the board. This was the main takeaway from the Aspire x AWS Jakarta Founders Night 2024, where over 200 founders, investors, and industry leaders gathered to explore how traditional businesses are evolving, integrating technology, and positioning themselves for growth.
The panel discussion, moderated by Ferdy Nandes, General Manager of Aspire, highlighted the robust investment flowing into Indonesia's traditional industries. In 2023 alone, Indonesia attracted $67 billion in total investments, with nearly $35 billion in foreign direct investment. This proves that even non-tech sectors like manufacturing and healthcare are ripe for growth—provided they can demonstrate scalability.
Overcoming Challenges in Scaling Traditional Businesses
The panel kicked off by addressing the unique challenges traditional businesses face when scaling. Panelists agreed that while these businesses are adopting technology, many still focus too much on tech for its own sake, rather than using it as a growth enabler. Gian Adhitya of Peak XV Partners and Nicholas Sunjaya of AC Ventures emphasized that investors prioritise a company’s scalability and long-term potential over its use of cutting-edge technology.
The Impact of AI and Technology
Ian Holtz from AWS shared insights on how AI is transforming traditional businesses, enhancing areas such as data analysis, customer experience, and automation. Panelists emphasized that AI is not just a tool for efficiency, but a driver of innovation, helping companies like Bobobox streamline operations and improve customer experiences.
Indra Gunawan, CEO of Bobobox, explained how its modular business model allows the company to offer enhanced comfort to budget travelers while using technology to streamline the customer journey. Indra underscored that its success lies in mapping the customer journey and identifying key value drivers. Technology is essential, but only when thoughtfully integrated to enhance customer experience and operational efficiency.
Technology as a Competitive Edge
AWS representatives pointed out that technology should serve as a competitive advantage, not just to improve operations. Predictive analytics, IoT, and blockchain are among the tools that traditional businesses are starting to adopt to stay ahead of competitors. The panel concluded by advising businesses to set clear milestones before seeking investment, focusing on profitability and scalability.
The Aspire x AWS Jakarta Founders Night event was a clear demonstration that traditional businesses in Indonesia are not just surviving—they are thriving. With the right strategies, technology, and partnerships, these businesses can achieve the same level of growth typically only associated with tech startups.
Frequently Asked Questions
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