The master plan includes the setting up of an R&D centre, a social impact investment fund, and a deeper dig into financial inclusion

Southeast Asian ride-hailing company Grab today revealed its master plan for the Indonesian market in the next four years, in a media briefing event in Central Jakarta.

Endorsed by the country’s Investment Coordination Board (BKPM), Grab is set to invest US$700 million into a master plan that consists of:

1. Opening a new R&D centre in Jakarta with the target of hiring 150 young local and international engineers over the next two years. The centre will be working on Indonesia-focussed solutions such as algorithms to address new road regulations in Jakarta and Grab’s bike-pooling service GrabHitch. The R&D centre will also provide training opportunities at Grab’s R&D centres in Singapore, Beijing, and Seattle.

2. Launching the Grab 4 Indonesia social impact investment fund, which will focuss on companies working to increase financial inclusion in Indonesia. Grab will invest US$100 million and also provide technical assistance to selected startups.

3. Expanding existing mobile payments service (GrabPay) and financing opportunities for driver-partners.

Also Read: From unknown to unicorn: 8 tips in running a successful startup from Grab’s pioneering employees

Grab Indonesia Managing Director Ridzki Kramadibrata also stated that the company has experienced 600 per cent growth since its launch in the country in 2012.

“Helping Indonesia to reach the goal of becoming Southeast Asia’s largest digital economy is in line with our goals,” he said during his remarks.

As for the expected outcome for the programmes, Grab Group CEO and Co-Founder Anthony Tan said that Grab expects to “outserve our customers” by building localised solutions.

“Then it is the only way that we can deserve to be in this market,” he said.

Minister of Communications and Informatics Rudiantara, who was present at the programme’s launch event, welcomed the new programme and expects that the setting up of an R&D centre in Indonesia “will become a new trend.”

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