While the transformation of the country’s infrastructure and businesses to be more digital-friendly is ongoing, several businesses that have adopted technology platforms have bloomed and helped the nation grow. Indonesia’s digital industry continues to grow, and with help homegrown businesses will reach markets outside the country. UnionSPACE, a renowned operator of co-working spaces, plans to further accommodate the expansion of businesses that use digital platforms. By Gilang Al Farisi
UnionSPACE recently announced their partnership with Indonesia’s Fintech Association (AFTECH) to push the growth of the nation’s financial technology industry through the expansion of fintech space.
The company, formerly CRE8, changed its name and developed its business with the help of Kejora Ventures and GAN Konsulindo. With their assistance, UnionSPACE has committed to further develop the fintech industry.
The co-working spaces are designed to cater to the needs of financial technology companies that need working space. The move is also the company’s way of contributing to the development of the startup ecosystem in Southeast Asian countries, where its services are concentrated.
UnionSPACE’s CEO Albert Goh is enthusiastic about creating space where fintech operations can develop and expressed excitement about developing Indonesia’s business ecosystem to suit the needs of digital-age businesses.
“Through our fintech spaces we hope to support and further cultivate already rapidly expanding fintech businesses,” he said. The first co-working space, designed specifically to cater to fintech businesses, will open in June and will hopefully contribute to cooperation with fintech businesses and partnerships with the government.
“As UnionSPACE has been established in several countries in the Southeast Asia region, we would like to work with fintech players in Indonesia to connect to our other members using our services.” -- Albert Goh, CEO of UnionSPACE
AFTECH director of public policy for Indonesia Ajisatria Sulaeman explained that the monetary service industry is highly regulated and coordinating 127 members of AFTECH has not been an easy task. “Fintech spaces will help us coordinate with every member in designing regulations to push to the government. In addition, the co-working spaces will become a vessel for strengthening the fintech community in Indonesia,” Ajisatria stated.
The co-working spaces will not only be a place to launch the next unicorn fintech company, but will also serve as a place to disperse education and information on the latest trends in the financial technology industry.
“The public space provided by the collaboration between AFTECH and UnionSPACE is necessary to accelerate fintech players to reach the goal of national financial inclusion, opening access to financial services for 75% of the people of Indonesia,” he added. “With these goals in mind, we believe that UnionSPACE will act as a pillar to support the development of fintech infrastructure in Indonesia.”
And, added Albert, UnionSPACE will not only provide co-working spaces for Indonesian fintech players, but also provide the chance to expand their networks. “As UnionSPACE has been established in several countries in the Southeast Asia region, we would like to work with fintech players in Indonesia to connect to our other members using our services,” he said. “This opportunity will produce the chance to expand their reach to neighboring countries and to trade ideas to further better their business.”
This year UnionSPACE is planning to open 20 co-working spaces in Indonesia and abroad, including in Jakarta, Surabaya, Bali, Manila and Malaysia. The new additions to the co-working space will further expand the “entreprenity” community, an online community that includes 24,000 listed users of UnionSPACE services that are spread around the globe.
Albert added that the co-working space provider is aiming to provide services to the whole of Southeast Asia and beyond by 2020, while simultaneously catering to the unique needs and demands of clients in each country.