Erick Thohir: Indonesia Can't Be Late In Transforming The Digital Economy

SOE Minister Erick Thohir (Photo: SOE Public Relations)

JAKARTA - Minister of State-Owned Enterprises (BUMN) Erick Thohir, said the launch of the Merah Putih Fund (MPF) and the Indonesia Digital Tribe (IDT) is a form of the government's commitment to increase the acceleration of the digital generation. Erick said that Indonesia should not be late in its transformation, especially in the digital economy.

Erick said that the use of technology today is inevitable in facing the new world. Therefore, Erick emphasized the importance of having its own ecosystem, roadmap or roadmap itself. This is because the various challenges that exist encourage the ecosystem to change.

Erick said, one of the ways in which Indonesia can transform the digital economy is to support start-up companies in terms of funding through the Red and White Fund.

"Indeed, the problem is very complex when, for example, we in BUMN are also called corporations, our position is to support MSMEs. This means that there is funding, there is infrastructure, and there is a market. For MSMEs, we have integrated strengths, but if it is digital, it must be more powerful," he said in a written statement, quoted Thursday, December 16.

Furthermore, Erick said that SOEs cannot think sectorally in increasing digital acceleration, but must collaborate with many parties, such as the Ministry of Education and Culture, the Ministry of Communication and Information, and national private entrepreneurs.

Erick asked SOEs to focus more on preparing funding for local startups or start-ups, either Soonicorn or Unicorn.

"There are a lot of them, (Soonicorn) has potential but if it is not supported by funding, it may also not have potential. Soonicorn is an early stage towards Unicorn where our number of Unicorns is actually not maximized, there is still a lot of potential, our prediction of 25 Unicorns is still possible," he said.

Three funding conditions

In its implementation, Erick emphasized three conditions for funding assistance through the Merah Putih Fund. First, only given to startups founded by Indonesians. Second, the startup must have an office in Indonesia. Third, it will go public on the Indonesia Stock Exchange (IDX).

Furthermore, Erick explained that these requirements were made to ensure that startups or start-up companies that receive funds from the state are made by the nation's children. Erick admitted that he did not want this financial institution to finance foreign companies.

"From the start, I was in a tough position, don't let us wake up but other people fill it in, it's the same as lying. We have to be proactive. Come on, where is the superhero Indonesia," challenged Erick.

In addition, Erick also admitted that he is optimistic that MPF and IDT will become an ecosystem to support Indonesia's digital acceleration.

"I am very optimistic, especially when I have the president's support. Even the president has an even bigger vision when we talk about corporations, he has already talked about e-government," said Erick.