Episode description
In this MindShare episode, host Leighton Cosseboom of AC Ventures discusses Indonesia's more than 64 million MSMEs, which contribute significantly to the economy, representing 99% of total business activities, creating 97% of jobs, and accounting for around 60% of the nation’s US$1.4 trillion GDP.
These small businesses often take the form of “warungs” – outdoor cafes, food stalls, and family-owned convenience shops. They are vital for Indonesia's inclusive and sustainable economic development, supporting socio-economic progress and resilience at the grassroots level.
We are joined today by Nipun Mehra, Founder and CEO of Ula, a wholesale e-commerce marketplace providing working capital and inventory sourcing for Indonesian small businesses. It has raised over US$117.5 million from a variety of blue-chip investors including Tencent, B Capital, Bezos Expeditions, AC Ventures, and many more. Meanwhile, Teddy Oetomo is President of Bukalapak, one of Indonesia’s earliest unicorn companies that today is focusing on digitalizing MSMEs through its Mitra Bukalapak business unit.