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Startups

Indonesian startups and VCs tie up to produce coronavirus test kits

Government under fire for slow response to crisis and lack of testing capacity

JAKARTA -- Indonesian startups and venture capital firms have tied up in a crowd funding campaign for the domestic production of coronavirus test kits, as the number of COVID-19 cases continues to climb in the archipelago.

The project was initiated by early stage startup investor East Ventures and is looking to raise 10 billion rupiah ($600,000) to cover costs related to the production of the test kits, as well as genome sequencing of the novel coronavirus which causes COVID-19. East Ventures has already donated 900 million rupiah, while Indonesian unicorns Tokopedia and Traveloka have donated 800 million rupiah and 200 million rupiah respectively. 

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