JAKARTA - Minister of State-Owned Enterprises (BUMN) Erick Thohir forbade the Board of Directors of state-owned companies that have no experience in the digital industry to directly invest in Startups or Unicorns.
This was conveyed by Erick Thohir in front of President Joko Widodo (Jokowi), during the opening of the 2022 BUMN Startup Day, Monday, September 26.
According to Erick, the directors of SOEs who are inexperienced in the digital industry should first provide assistance with the venture capital (Venture Capital) owned by SOEs.
As for the five Venture Capitals, namely Mandiri Capital, BRI Ventures, MDI Ventures, Telkomsel Mitra Innovation, and BNI Ventures.
"We don't want to, I'm sorry, Mr (Jokowi), the Directors of SOEs who do not have experience in the digital industry immediately invest, without any assistance," said Erick at the opening of the 2022 BUMN Startup Day, Tuesday, September 26.
Erick said that his party did initiate a collaboration between state-owned companies, capital ventures, and startups in Indonesia. The initiative was outlined through the SOE Startup Day program.
Erick also wants the cooperation between SOEs, Venture Capitals, and startups to be sustainable. Currently, the Ministry of SOEs has mapped 250 startups that are tailored to 12 SOE clusters.
Then, 22 startups tried to see the potential for business matching. Then, five SOE Venture Capitals are ready to provide assistance to local startups.
Not only that, Erick also said that the Ministry of SOEs noted that there were 336 start-ups that had funding from the Venture Capital BUMN. The 336 startups were originally Sunnycorn (soon to be unicorn), which has now become unicorns.
"If you remember from the start, SOEs already have Telkom, there is Telkomsel, and lastly, I also asked BNI to make Venture Capital, which is below having invested in 336 startups, which if you look at today, many have also started to become unicorns, Mr.," he said.
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