Indonesia targets establishing 4,900 technology-based startups by 2024

Indonesia targets establishing 4,900 technology-based startups by 2024

Ganesha Education University (Undiksha), through the Research and Public Service Institute, held a seminar featuring Director of Technology-Based Startups of the Directorate General of Innovation Strengthening at the Ministry of Research, Technology and Higher Education Ir. Retno Sumekar, M.Sc., on the weekend. ((Foto Antaranews Bali/Made Adnyana/2019))

From 2020 to 2024, the number (of technology-based startups) must triple. If the number is 1,307 now, then it must reach 4,900 in 2024.
Jakarta (ANTARA) - The Research, Technology, and Higher Education Ministry has outlined a target of creating 4,900 technology-based startups until 2024.

"From 2020 to 2024, the number (of technology-based startups) must triple. If the number is 1,307 now, then it must reach 4,900 in 2024," Minister of Research, Technology, and Higher Education Mohamad Nasir remarked during the I3E 2019 expo held at the Jakarta Convention Center on Thursday.

To this end, the ministry will annually allocate a minimum of Rp64 billion for three programs to finance and develop potential technology-based startups (CPPBT), technology-based startups (PPBT), and industrial innovation, he noted.

Related news: Three start-ups have opportunity to become unicorns: minister rudiantara

"Some Rp280 billion will be utilized only for PPBT in the next five years. (The budget for PPBT) this year is Rp64 billion. In future, we must raise the amount. We hope that the number (of technology-based startups) would increase three-folds during the 2020-2024 period. The Indonesian president will integrate all research under the coordination of the research institute, in this case, the National Research and Innovation Body," he noted.

The expo, on October 3-6, is showcasing 404 innovative products from technology-based startups.

Director General of Innovation Strengthening Jumain Appe stated that the 3E expo showcased 404 innovative products comprising 249 from the PPBT funding program, 132 from the CPPBT funding program, and 23 from the industrial innovation funding program.

Related news: Indonesian startups growing rapidly: minister  

Comments