Heaptalk, Jakarta — Indonesia’s Ministry of Industry performed Startup4industry Investment Summit in the Digital Industry Center Building (PIDI) 4.0 on December (12/12). Multiple stakeholders participated in this summit, spanning 27 local and international Venture Capital (VC) and 82 startups under the Startup4Industry ecosystem.
As is known, the Ministry is aggressively organizing coaching programs for the technology startup industry. Initiated in 2018, the Startup4industry Program reached 2,036 startups and invited 1,136 startups to compete in the technology sector.
The Director General of Small, Medium, and Miscellaneous Industries, the Ministry of Industry, Reni Yanita, delivered, “This program is a part of Indonesia’s government strategy to build more technological ecosystem through the startup presence. We realized that the most significant contributor to the startup industry’s growth is related to funding. This investment summit is a proper place for VCs to explore Indonesia’s startups to be invested in.”
For this reason, Reni appealed to startup players to emphasize their business strategies’ economic value and sustainability. He also hopes venture capital can channel strategic funding to startups with extraordinary potential.
Amplifying the startup ecosystem through strategic collaboration
In conjunction with this startup summit, the Ministry of Industry signed a Memorandum of Understanding (MoU) with multiple venture capital firms, covering UMG Idea Lab, Gayo Capital, and Indogen Capital. On the other hand, this government entity also cooperated with the Startup Association for Indonesian Industry (Starfindo) to provide technical assistance for startups that will carry out fundraising.
Besides, the Startup4industry Investment Summit also performed an MoU signing with the startup in the law sector, Legalku. In this cooperation, the startup will receive assistance from the legal side in the fundraising process.
Apart from providing access to funding, this agenda also provides accessible raw materials for startups operating in the Internet of Things sector through collaboration with PT Advantech International and PT Eforel Cipta Utama.
“We are enthusiastic about collaborating with the Ministry of Industry to support the development of the startup ecosystem in Indonesia. Through education and dissemination about IoT, we hope to contribute positively to growth and innovation in the national industry,” said the Industrial IoT Sector Head of PT Advantech International, Irwanto.
