A two-pronged approach to create Indonesia’s Silicon Valley

More: Crypto exchange platform Huobi targets 100 million users and an e-grocery startup in Singapore closes its doors. [Read from your browser]( Daily Newsletter --------------------------------------------------------------- Welcome to Tech in Asia's free Daily Newsletter! Get full access to our subscribers-only Daily Newsletter and other insightful analysis on the big and messy topics of Asia’s tech and startup community by [registering here](. --------------------------------------------------------------- Hello {NAME} It’s so interesting how certain words or names have become so synonymous with what they are. Examples include calling all paracetamol-based medicines “Panadol” or saying “Kleenex” instead of “tissues,” assuming US media has portrayed that accurately. There’s a lot of power in names, and one of the biggest in the tech sector is Silicon Valley, which has become almost like a pilgrimage site, such is the respect that it’s given. Because of that, we’ve seen a lot of attempts to replicate it outside of California. Many locations have tried to dub themselves as the “Silicon Valley of the (insert region here).” Have those initiatives met with success? Indonesia’s Sinar Mas Land is developing such a place, but there are many factors at play. -- Jonathan  ---------------------------------------------------------------  THE BIG STORY [Sinar Mas Land’s dual approach to create Indonesia’s Silicon Valley]( The company’s new investment arm scouts startups to join its ecosystem while the tech hub is designed to house innovation builders. --------------------------------------------------------------- TRENDING NEWS [Amazon and Salesforce to cut 25,000 staff in total]( Both companies admitted that past aggressive hiring strategies and the current economic downturn were among the main factors leading to the layoffs. [VNG sees no transactions yet on first day of trading]( At the time of writing, the company’s shares are still “freezing” regarding liquidity. [Animoca targets $1b fund for Web3, metaverse]( The plan comes at a time when the crypto industry is still reeling from the FTX crash. [Indonesia plans national crypto exchange this year]( The country’s Financial Services Authority is expected to assume regulatory oversight of crypto assets in the next two years, Bloomberg reported. [SG startup pioneer Sim Wong Hoo dies]( In 1981, Sim Wong Hoo founded audio and video equipment maker Creative Technology, which went public on the Nasdaq in 1992. [Byju’s founder eyes fundraise to bump up stake in firm to 40%]( Byju Raveendran is looking to raise funding to repurchase about 15% of the edtech giant, which was last valued at US$22 billion, Bloomberg reported. --------------------------------------------------------------- TECH IN ASIA SCHOOL Perfect your pitch Leverage TIA School’s connections with Southeast Asia’s finest founders and investors by signing up for our Fundraising Program, where you’ll get a leg up in your fundraising journey. This program is for early-stage founders to sharpen their pitch and get them investor-ready within six weeks. Test your pitch and get feedback from professional investors within our networks. 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