Surabaya, Indonesia #759 Position in Global Startup Ecosystem Ranking

Startup Ecosystem in Surabaya 🌟

TL;DR

Surabaya is currently ranked as the 759th city in the Global F/MS “Best Cities for Startups” Index. Known for its bustling trade scene and emerging tech landscape, Surabaya is carving its niche in Indonesia’s startup ecosystem, making it an exciting place for budding entrepreneurs.

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Startup-Friendly Stuff 📈

1. Ease of Company Registration

• Business Registration: Surabaya benefits from streamlined processes through government online platforms. Establishing a business is relatively straightforward.
• Startup Incentives: Local policies are increasingly aimed at nurturing tech and innovation-focused startups.

2. Employment Law 🏢

• Labor Regulations: Indonesia has comprehensive labor laws that can be intricate, but they provide essential protections for workers.
• Hiring Foreign Talent: Necessary work permits are required for foreign hires, but the process has been improving.

3. Taxation 💰

• Corporate Tax Rate: Standard at around 22%, with certain initiatives offering reduced rates for startups.
• VAT Regulations: Competitive VAT rates applicable for various sectors, fostering a conducive business environment.

4. Quality of Life 🌆

• Living Standards: Surabaya maintains a decent quality of life with affordable living costs compared to larger cities like Jakarta.
• Culture and Leisure: Offers a vibrant cultural scene with shopping malls, historical landmarks, and delectable local cuisine.

5. Bureaucracy 🗂️

• Ease of Navigation: While generally welcoming, bureaucratic processes can be slow, especially for import/export businesses.
• Government Support: The local government shows a growing interest in supporting startups through various initiatives.

6. Visas for Entrepreneurs 🌍

• Startup Visas & Permits: Indonesia’s programs have made it easier for foreign entrepreneurs to set up shop.
• Residency Options: Options for long-term visas for qualifying individuals are becoming more accessible.

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Startup Community 🤝

7. Networking Events

• Host to various tech meetups, startup weekends, and monthly gatherings that foster local networking.
• Prominent events encourage collaboration and investment from both local and international communities.

8. Subsidies and Funding 💵

• Increasing government support and subsidies aimed at tech entrepreneurs.
• Various private investment opportunities coupled with regional initiatives.

9. Venture Capital (VC) Presence

• Investments: The VC landscape is growing, with more funds seeking opportunities in Surabaya’s emerging market.
• Major Firms: Increasing interest from both domestic and foreign VCs focusing on Southeast Asian startups.

10. Incubators & Accelerators 🚀

• Several incubators and accelerators dedicated to nurturing tech startups, offering mentorship and resources.
• Programs often include networking opportunities and access to funding.

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Technology & Industry Priorities 🔧

• Focus Areas: E-commerce, Logistics, Tourism Tech, and Cultural Innovations.
• Government Initiatives: Efforts to establish Surabaya as a tech hub in Eastern Indonesia through infrastructure investment.

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Business Culture 🏙️

• Language: Bahasa Indonesia is the primary business language, but English is becoming popular in the startup community.
• Work Environment: A collaborative and innovative work culture is encouraged among startups, with a strong emphasis on community support.

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General Pros and Cons ⚖️

Pros:

• Affordable living costs make it easier for startups to establish themselves.
• A burgeoning local ecosystem with increasing government focus on supporting innovation.
• Strong community spirit among entrepreneurs.

Cons:

• Legal and bureaucratic intricacies can pose hurdles.
• Limited access to larger funding compared to major cities like Jakarta.

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Initiatives for Female Entrepreneurs 👩‍💼

• Growing support for initiatives aimed at empowering female founders.
• Special programs and networking events tailored to women in business.

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Surabaya presents a promising landscape for startups looking to establish their foothold in a growing and vibrant market. 🚀

MeanCEO Index for Surabaya 🌟

Surabaya is quickly becoming a notable player in Indonesia’s startup ecosystem. But how does it score for female entrepreneurs? Let’s evaluate the MeanCEO Index based on ten crucial factors that affect this entrepreneurial landscape.

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1. Weather ☀️

• Score: 7/10
  • Surabaya enjoys a tropical climate with plenty of sunshine throughout the year. Although it does experience a rainy season, the warm winters and sunny days foster a lively outdoor atmosphere for networking and community-building.

2. Location 🏖️

• Score: 6/10
  • Situated on the northeastern coast of Java, Surabaya has access to nearby beaches, though they may require a bit of travel. The warm waters make it conducive for beach activities, enhancing the city’s leisure appeal.

3. Women Friendly 👩‍💼

• Score: 5/10
  • Indonesia is making strides toward gender equality, but traditional gender roles still exist. Surabaya is gradually improving in women’s rights and workplace equality, although there’s more work to be done.

4. Foreigners Friendly 🌍

• Score: 6/10
  • The local community is generally hospitable, though forming connections may take some effort due to cultural differences. There’s a growing interest in inclusivity, particularly in the startup circles.

5. English as a Business Language 📚

• Score: 6/10
  • While Bahasa Indonesia dominates, English is increasingly becoming common in the business sector, especially among younger professionals. However, proficiency may still vary among the population.

6. Delicious Cuisine 🍽️

• Score: 7/10
  • Known for its rich culinary heritage, Surabaya offers delicious local dishes with ample variety. While onions are present in some foods, the unique flavors and healthy options make it a gastronomic delight.

7. Ease of Getting Married and Starting a Family 💍

• Score: 6/10
  • The social scene is vibrant, with opportunities to meet potential partners. However, societal expectations around marriage can be moderated, and the younger generation is more open to diverse relationships.

8. Medicine 🏥

• Score: 5/10
  • Healthcare access varies; while there are local clinics and hospitals, wait times and quality can differ significantly. Costs are generally affordable, but you may need to plan for appointments in advance.

9. Ease of Transportation & Traveling 🚍

• Score: 6/10
  • Public transport is available but can be limited. Rideshare apps and taxis are functional, although traffic congestion can be an issue. Surabaya’s airport offers domestic and some international flights, enhancing connectivity.

10. Startup Mindset 💡

• Score: 8/10
  • The startup culture in Surabaya is growing, characterized by resilience and a willingness to embrace new ideas. The community encourages learning from failures, making it a supportive environment for budding entrepreneurs.

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MeanCEO Index Score: 58/100 🎉

Surabaya offers a blend of opportunities and challenges for female entrepreneurs. With its emerging startup ecosystem and supportive community initiatives, it is becoming an increasingly favorable place for innovation. While legal intricacies and certain cultural norms present hurdles, the city’s vibrant lifestyle and growing network of resources contribute to a positive outlook for women looking to start and scale businesses.

Here’s to new ventures in Surabaya! 🚀