G20 DIN to Help Advance Indonesian Start-ups
4 September 2022 13:01 WIB
TEMPO.CO, Jakarta - The Digital Innovation Network (DIN), a side event of the 2022 G20 Digital Economy Working Group (DEWG) meeting, can help promote start-ups in Indonesia, Communication and Informatics Minister Johnny G. Plate has said.
“G20 DIN will also be useful in collaborating the creative ideas of Indonesian start-ups with venture capitalists. We expect that they can develop and be able to advance. We hope that there will also be new unicorns," he said at a press conference on Saturday.
The DEWG is one of the working groups of the G20 that focuses on issues related to the digital economy and highlights the role of digital transformation on economic and social growth.
According to the minister, the implementation of DIN amid the Indonesian G20 Presidency is a form of the government's support for the growth of start-ups, which are expected to encourage the development of the digital economy in the country.
In general, the event is expected to serve as a forum for digital economy players, such as start-ups, venture capitalists, as well as policy makers to exchange ideas and knowledge as well as build networks to expand their business.
Indonesia has chosen five companies from five sectors as representative start-ups for DIN, including Cakap (education technology sector), Komunal (financial inclusivity), Nusantics (healthcare), Sinbad (supply chain), and Xurya (green and renewable energy).
The start-ups have been chosen to join the event since they have met the criteria for securing Series A funding as their company valuation has reached US$15–20 million.
Plate further said that the government is continuing to support the growth of start-ups in Indonesia by strengthening and adding telecommunications and digital infrastructure, conducting trainings for digital talents, as well as developing good governance and regulations.
Although currently there are many start-ups in the country, he said he believes that by collaborating and sharing various innovations to improve each other, pioneering companies will be able to survive and bolster the digital economy ecosystem in Indonesia.
"Like every business in every country, competition is inevitable. Thus, when facing competition, we need to strengthen our national collaboration and solidity," he remarked.
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