Grab to invest $700m into R&D, talent development in Indonesia

Nadine Freischlad, reporting for Tech in Asia;

At a star-studded press conference today, Southeast Asian ride-hailing startup Grab announced its plans to allocate US$700 million into a “2020 master plan” for Indonesia.

Over the next four years, the company pledges to invest heavily into R&D as well as tech talent development.

Grab wants to hire 150 engineers over the next two years, and set up a US$100 million fund for investing in startups focusing on social issues, like financial inclusion, among other targets.