Press Release
No. 257/SP/HM/BKKP/XI/2019

Bali – Minister for Research and Technology/Chairman of National Agency for Research and Innovation Bambang Brodjonegoro stated that for Indonesia to be a developed country, the manufacture sectors should be prepared to be improved, startups or entrepreneurs should be more, and the digital-based economy strengthening should be developed continuously.

“One of our role is to develop digital economy. We also take responsibility in creating as many new startups ad possible and ensure the continuity of those startups,” he said while attending the 2019 Next Indonesian Unicorn Summit in Jimbaran Hub, Bali (15/11).

Minister Bambang highlighted the importance of creating technopreneurs. He encouraged all people in any society to strengthen the research, technology, and innovation as parts of the effort to increase the numbers of entrepreneurship in Indonesia.

“We should create tech-based entrepreneurs or technopreneurs. Although the risk of failure will always be there, we should keep trying, or else Indonesia will only be a big market and left behind in being innovative producers,” he explained.

Minister Bambang appreciated the founders and activist of startups in creating new jobs, because with the demographic bonus Indonesia currently has, there will be many people occupying the jobs.

“The founders and activists of startups are today’s heroes in the era of industrial revolution 4.0. They will create new jobs, whereas with the demographic bonus there will be many millenials filling the jobs,” he said.

The Chairman of the Board of Trustees of NectICorn Rudiantara stated that NextICorn currently becomes independent foundation, with the founders of many global companied incorporated inside.

He explained that the foundation has the vision to be the driving force of the initiatives which will improve the new economic sector in Indonesia, including to promote the creation of nee unicorns. Indonesia currently has 5 unicorns, which are OVO, Traveloka, Bukalapak, Tokopedia, and Go-jek.

“The hope is through this summit we can encourage the creation of three new unicorns next year, so it would motivate Indonesia to be The New Economy Global Hub,” he continued.

Beside the expectation of new unicorns next year, the President of NextICorn Foundation Daniel Tumiwa stated that through the summit they already achieved at the very least 1,500 meetings from the recorded 4,800 requests between 103 startups and 169 investors for the next two days.

He stated that through the meetings it is expected to increase the opportunities of agreements between investors and startups. He predicted that the industries of healthtech, agritech, edutech, logistics, fintech, and e-sports industries will be the main focus of investors target in the future.

Daniel emphasized that the summit was not meant to create more startups, but to help the startups which already have sturdy business models and structures to upgrade to the next level.

“That is why we formulated comprehensive standards to curate the startups. Looking from the funding, from the 103 startups attending today, around 20% of them have received at least US$ 1 million fundings, while 55% have received US$ 1 – 5 millions, and 25% have received above US$ 5 millions,” Daniel said.

According to the latest report from Google and Temasek, Indonesia is now one of the “new economy” countries with the most rapid economic growth in the past five years in Southeast Asia.

Therefore the research and development (R&D) should be strong to support Indonesia in becoming a developed country. Startup candidates should understand how to increase the value-added of the potential commodities in Indonesia.

To support the increase of the numbers of startups, Ministry of Research and Technology/National Agency for Research and Innovation has a Technology-Based Startup Program (PPBT) whereas the chosen startups will get some incentives/fundings and coaching. Ministry of Research and Technology/National Agency for Research and Innovation also has several potential Science Techno Park (STP) in several areas in Indonesia. For innovation to be commercialized as mass products, startups coached by Ministry of Research and Technology/National Agency for Research and Innovation are supported with the business incubations in those STPs.

“It means that we will maintain the track record of the startups we coach to be the next unicorn, eventhough it may takes a long time,” said Minister Bambang.

Also attending the event are the Chairman of the Board of Trustees of NectICorn Rudiantara, the President of NextICorn Foundation Daniel Tumiwa, the Chairman of the Investment Coordinating Board of Indonesia Thomas T. Lembong, and other respected guests.

Partnership and Public Communication Bureau
Ministry of Research and Technology/National Agency for Research and Innovation