Startup Go Public Summit 2024, IDX And Indogen Capital Drive IPO Startup Growth

Illustration. (Dok IDX)

JAKARTA As a commitment to provide an ecosystem in the Indonesian capital market that supports the success of startups and technology companies through going public, PT Bursa Efek Indonesia (IDX) collaborates with Indogen Capital (Indogen) by holding a Startup Go Public Summit 2024.

Meanwhile, the Startup Go Public Summit 2024 presents panelists who are expected to provide insight and support the preparation of startups and technology companies to go public in Indonesia so that they can achieve sustainable business growth.

Based on the Indonesia Venture Capital Report in 2023 by AC Ventures and Bain & Company, since growing rapidly in 2021, the startup ecosystem has slowed down in 2022.

However, it has grown again since 2023 and is projected to continue to grow in 2024, especially in startups that have entered the late-stage phase.

However, investors at the late-stage startup are starting to demand sustainable company profitability and growth. However, the landscape of the startup ecosystem is growing and improving, currently there are still few startups that have gone public in Indonesia.

Therefore, the holding of the Startup Go Public Summit 2024 is expected to inspire startups in their preparation to become listed companies.

IDX Director of Corporate Assessment, I Gede Nyoman Yetna said, the IDX supports all potential companies to become listed companies. Various initiatives that have been taken by the Exchange are steps to make the Indonesian capital market more inclusive for all types of companies, including startups.

"Companies noted also need to meet expectations from public investors. Companies are not only required to grow in terms of income but also to focus on increasing profitability so that sustainable growth is achieved," he explained in his statement, quoted Wednesday, May 1.

Indogen Capital Managing Partner Chandra Firmanto said that Indogen Capital has experience in supporting foreign startups to grow and expand to Indonesia to list its shares on the IDX such as PT Venteny Fortuna International Tbk (VTNY). This experience put Indogen in the right position in helping startup companies to increase their potential for good profitability and prepare for an IPO.

"IPO is a proud milestone for the founder. However, the IPO is not the end of the success of a startup, but the beginning of a long journey to become a bigger company," he said.

Nyoman conveyed that through various comprehensive and educational panel discussions, it is hoped that the Startup Go Public Summit 2024 can become a educational for startups regarding the potential and benefits of being listed on the IDX and inspire startups to develop into open companies.

"This event is also expected to inspire foreign startups to establish companies and expand to Indonesia and in the end be able to consider taking the floor on the IDX," he concluded.