GOVERNMENT BOOSTS UNICORN DEVELOPMENT

By Andi Abdussalam

Jakarta, Sept 25 (Antara) - Rapid technological advancements have enabled Indonesia to boost the development of its digital-based businesses, startup firms, and unicorn companies, thus projected to become Southeast Asia's biggest digital economy in 2020.         In the development of startup companies, for instance, Indonesia is ranked fourth in the world, with 1,720 startups. Following the success, Indonesia is eager to transform startups into unicorns, pioneer firms, with valuation of at least US$1 billion.         Until now, Indonesia is the biggest country in Southeast Asia in terms of unicorn development. Of the only seven unicorn firms in Southeast Asia, four belong to Indonesia.         This places Indonesia in the fourth rank in the development of unicorns at par with Germany.         According to Communications and Information Technology Minister Rudiantara, entering a digital-based economy, Indonesia is fortunate to have several large startups called unicorns.         The achievements of young Indonesians are able to carve out a legacy or inheritance at an international level that is not only sweet to remember but also serves as an inspiration to other children of the nation.         "The so-called unicorn, with a proud performance, contributes significantly to the nation's economy," he noted.

INDONESIA AIMS TO DEVELOP STARTUPS INTO UNICORN FIRMS

By Andi Abdussalam

Jakarta, Feb 15 (Antara) - Indonesia is upbeat at its potential to develop its startups into unicorn firms, a company with a valuation reaching US$1 billion.         The Ministry of Industry is optimistic about the potential of startups to become fast-growing firms. Therefore, it is partnering with startups to boost the growth of the manufacturing sector.         The government needs to collect data to develop these companies. As regards, the Investment Coordinating Board (BKPM) will compile the data on the startups investment in the country.          The development of startups potential is evident in the development of Traveloka, Bukalapak, Go-jeck, and Tokopedia, which are online service and commerce firms. These firms are able to develop fast, with valuations reaching trillions of rupiah in a relatively short period.         Startups also have big potentials even in the education field. Minister of Communications and Informatics Rudiantara, for example, said that startups in the field of education have the potential to become unicorn firms.         "We have to follow the potential to become a unicorn in Indonesia, first in the field of education," Rudiantara remarked at the Indonesia-Australia Digital Forum 2018 event in Jakarta on Thursday.

INDONESIAN STARTUPS STAND OUT IN BUSAN

By Andi Abdussalam

Jakarta, Sept 29 (Antara) - Even as Jakarta plays host to the digital forum IDByte 2017 Conference, several Indonesian firms have started flexing their muscles by introducing their digital solutions at the International Telecommunication Union (ITU) in Busan, South Korea.         Opening the IDByte 2017 Conference in Jakarta, Thursday, President Joko Widodo (Jokowi) said the government would help startup companies conduct experiments and create innovations through the use of digital technology.         The startup companies can be supported if Indonesian entrepreneurs build a local brand by utilizing the advances in communications technology, he said. The president's call was aimed at encouraging them to grasp digital technology solutions.         In terms of digital solutions, many Indonesian startups have begun to make progress. In South Korea, for example, several Indonesian startups showed off their digital solutions at the ITU forum in Busan from Sept. 26 to 28, 2017.         The startups representing Indonesia that were invited by the Ministry of Communications and Informatics to participate in the event included Tokopedia, Modalku, Tukang Sayur.co, Cashlez, Nurbaya Initiative and Gerakan Nasional 1.000 Startup Digital (National Movement of 1,000 Digital Startups).