Financial Services Authority Boss Calls Indonesia Successful In Building 2.100 Startups, 7 Unicorns, And 2 Decacorns: The Society Receives The Most Benefits

Illustration (Photo: Doc. Ministry of Finance)

JAKARTA - Chairman of the Board of Commissioners of the Financial Services Authority (OJK) Wimboh Santoso said that the development of startups in Indonesia was quite good. This indicates that the digital ecosystem in the country is sufficiently developed and contributes well to the economy.

"Mr. President, we can convey that there are currently 2.100 startups in Indonesia, of which until September 2021 there will be seven unicorns and two decacorns," he said through an online channel when opening the OJK Virtual Innovation Day 2021 at the Merdeka Palace, Jakarta, Monday, October 11.

According to Wimboh, the national business climate that is in line with technological progress is a form of good synergy between various parties.

"The growth of this innovation cannot be separated from the policies of the authorities, not only OJK but all stakeholders," he said.

For information, a unicorn startup is a term for a company with a valuation value of 1 billion US dollars or around IDR 140 trillion. Meanwhile, several national unicorn startups include Traveloka, OVO, Bukalapak, J&T Express.

Meanwhile, decacorn companies have a valuation value of 10 times the value of unicorns, namely 10 billion US dollars or IDR 1.400 trillion, namely Gojek and Tokopedia.

"So our policy is not a policy that limits but encourages to support the presence of digital and the community is the party who gets the most benefits," continued Wimboh.

Especially for the financial services sector, the OJK boss revealed that his party has a strategic role to support the development of innovation in an integrated digital ecosystem.

“Financial service institutions in Indonesia are encouraged to continue to be relevant from time to time so that they are responsive to technological developments. All of this aims to provide added value to the community, such as creating employment, encouraging economic growth, and bringing all levels of society into financial services or what we call financial inclusion," he explained.