Through The Korea-Indonesia Startup Day, Kemenkop UKM Wants To Achieve This Goal

JAKARTA - The Ministry of Cooperatives and SMEs (Kemenkop UKM) is collaborating with the Korea Trade-Investment and Promotion Agency (KOTRA) and the Korea Midlands Power Co.Ltd (KOMIPO) to organize the Korea-Indonesia Startup Day event, with the theme Boosting Future Leaders of Indonesia.

The event is expected to encourage Indonesian start-ups not only to be competitive at the national level, but also at the global level.

Minister of Cooperatives and SMEs (Menkop UKM) Teten Masduki said the massive growth of start-ups in Indonesia was a golden opportunity in an effort to encourage economic growth.

"By maximizing the use of technology in running its business, start-ups will be the answer to the inequality in welfare that has been happening so far," said Minister Teten in a written statement received by VOI, Wednesday, December 13.

Minister Teten added, Indonesia benefits from a population that is so large and dominated by generation Z which is very creative and innovative. Meanwhile, the number of internet users in Indonesia also reached 212 million.

On the other hand, Indonesia also has market potential for the digital economy which will reach IDR 5,400 trillion in 2030. With this advantage, Indonesia is one of the prospective markets for the development of start-up businesses in the digital era as it is today.

"We should be grateful to have a population of young people who dominate the generation who are always active and creative in utilizing digital technology to produce innovative business models with consolidated character and accelerators for other entrepreneurs," he said.

As an effort to develop a start-up business ecosystem, said Teten, there are several things that need to be considered, one of which is cross-sectoral collaboration such as what has been done between the Kemenkop UKM, KOTRA Jakarta, and KOMIPO. In addition, efforts are also needed to ensure the implementation of education and training.

"Encouraging innovation and technology, increasing justice and equality and building regional and global cooperation," said Teten.

On the same occasion, Executive Vice President of KOMIPO Kim Dong Jun said, KOMIPO has now expanded social programs and is reaching out to start-up businesses in Indonesia for sustainable development and cooperation between Korea and Indonesia.

"We are very happy to have the opportunity to support start-up companies here today. We are sure that these companies will continue to grow and become one of the big pillars of the Indonesian economy," he said.

Meanwhile, Director General of KOTRA Jakarta Lee Janghee said, since 2018 KOMIPO has helped develop MSME players in Indonesia, one of which is the Serikandi Cooperative in Sumatra and the Gayo Women's Coffee Cooperative in Aceh.

"This year is a special year. The Ministry of Cooperatives and SMEs, KOMIPO, and KOTRA have agreed to start a new stage in supporting start-ups in Indonesia," he said.

He considered that his party wanted to push Indonesia's start-ups to the next level of economic development, very important to increase creativity and innovation in facing market challenges.

"We are wholeheartedly committed to becoming friends for Indonesian start-ups towards better economic welfare. We believe this collaboration will push the two countries to a higher peak," he added.