Teten Masduki: MSMEs Need To Evolutionate To Create Science-Based Products To Be ABLE To Compete In The Digital Era

Minister of Cooperatives and SMEs Teten Masduki. (Photo: Doc. Antara)

JAKARTA - Minister of Cooperatives and SMEs Teten Masduki emphasized that MSMEs need to evolve by creating science-based products and technological innovations in order to be able to compete in the digital era. "There are many cool ideas with good, innovative, and contemporary business models, and I see in the digital era a business model like this that will grow later," said Teten Masduki in an official statement, quoted from Antara, Wednesday, November 23. Teten added that innovation in the field of science and technology will be Indonesia's advantage. This is so that MSMEs do not completely struggle with low technology without innovation. According to him, currently many young people already have initiatives in developing digital platforms, but forget to develop their products. Therefore design more (design making) must be done to respond to various problems that occur among the public into a business innovation. Furthermore, he revealed that currently Indonesia has the fourth largest digital market in the world with a total of 270 million, as well as being the largest economic power after America, China, and India.

The opportunity that we should be able to catch, so that the digital market in the country is not only controlled by foreign products, but can be taken over and maximized by domestic products," he said.

If the existing opportunities are not used, the Indonesian market is threatened with being controlled by imported products.

Meanwhile, the Kemenkop UKM seeks growth and an increase in entrepreneurship ratio, one of which is through the Hero's program. Economic stacks are a forum for young entrepreneurs to develop their business so that they can create jobs.