The Communication and Informatics Ministry has prepared a stimulus in the form of an assistance program to support the development of the digital startup ecosystem.
"The existence of the government is important because this business (startup) is still considered new in Indonesia," Communication and Informatics Minister Johnny G. Plate noted during the “Metro TV Economic Challenges Dialogue: Startup Bubble Burst?”
"Our dependency toward this business is high, so we do not have other options beyond developing this business," he explained in a press statement issued on Wednesday.
The ministry has prepared several digital talent programs to support the development of digital startups, he informed.
Once digital talents come up with ideas for digital startups, the government can step in by providing training to potential startup founders through the programs.
The ministry is currently running the 1,000 Digital Startup National Movement, a program designed to search for and curate creative ideas and teams creating innovative products.
"We are assisting startup actors during the solution-seeking and solution-validation stages until they receive their first consumers," Plate informed.
"After the digital startups grow, their creative ideas start to be curated, and they enter the 1,000 Digital Startup program," he said.
The ministry is also offering the digital startup assistance program in the form of Startupstudio.id. The program is open to startups that are already growing.
The ministry is providing training to startup leaders so that they gain more intensive technical capability and insight.
After startups grow and develop, they can participate in the HUB.ID program, which involves business matchmaking with venture capitalists for investment.
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If they receive funding, startups can expand their services to the people.
The minister listed many challenges that startups can encounter, including management, financing, and technology handling.
"When startups start to grow, creative ideas will never stop along with the technology. This shows that the capital expenditure is flowing and continues to grow along with demand," he informed.
"There's the challenge! After digital startups start to grow, valuation is created because it needs financing and so on," he added.
Challenges can also come from the outside, such as the COVID-19 pandemic, technological disruption, and geostrategic issues.
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