Through This Program, The Ministry Of Industry Wants To Help Funding Startups

Director General of IKMA of the Ministry of Industry Reni Yanita (Doc. Ministry of Industry)

JAKARTA - The Ministry of Industry (Kemenperin) is actively carrying out tech startup development programs, one of which is by opening access to funding which is the main support for the sustainability of these startup businesses through the Startup4industry program.

Through this program, which has been running since 2018, the Ministry of Industry has reached a total of 2,036 startups to meet with industry and investors, as well as 1,136 startups taking part in technology competitions.

"This is one of the government's strategies to build a technology solutions ecosystem. The Ministry of Industry realizes that the main support for the sustainability of startups is funding and one of the government's tasks is to attract investment for Indonesia's economic growth," said the Director General of Small, Medium and Miscellaneous Industries (IKMA) Ministry of Industry Reni Yanita in a written statement received by VOI, Wednesday, December 13.

In the Startup4Industry Investment Summit activities, there were 27 venture capital (VC) from within and outside the country, as well as 82 startups from the Startup4industry ecosystem.

Reni said that through this activity, it is hoped that startup players can highlight the economic value and sustainability of the business strategies they are pursuing. It is also hoped that venture capital can provide trust and funding to startups.

"We are also committed that Startup4Industry together with the Indonesian Startup for Industry Association (Starfindo) will continue to monitor and provide assistance to startups," she said.

This event also included the signing of a memorandum of understanding between the Directorate General of IKMA and several VCs, namely UMG Idea Lab, Gayo Capital, as well as Indogen Capital, and the Indonesian Startup for Industry Association (Starfindo).

Starfindo itself is a startup association that is part of the Startup4industry program and acts as a technical companion for startups that will raise funds.

Apart from that, a memorandum of understanding was also signed between Starfindo and Legalku, a startup in the legal sector, where through this collaboration, the startup will receive assistance from the legal side in raising funds.

It is known that Startup4industry also provides easy access to raw materials for startups operating in the Internet of Things sector through a cooperation agreement with PT Advantech International and PT Eforel Cipta Utama.