Our strengths in SOEs are corporations, so we focus on funding. For funding, we also focus on soonicorns, with a valuation of US$200 million and have not yet become unicornsJakarta (ANTARA) - State-Owned Enterprises (SOEs) Minister Erick Thohir affirmed that the Merah Putih Fund will focus on channelling funding to soonicorns, or start-ups that will soon turn into unicorns.
"Our strengths in SOEs are corporations, so we focus on funding. For funding, we also focus on soonicorns, with a valuation of US$200 million and have not yet become unicorns," Thohir stated at an online press conference here, Wednesday.
Thohir noted that soonicorns held high potential if assisted by providing the right amount of funding.
"Soonicorn start-ups have the potential to become unicorn start-ups, but our efforts in maximizing unicorn start-ups are still not optimal. We have vast potential for unicorn start-ups. There are approximately 25 soon-to-be unicorn start-ups in Indonesia," Thohir emphasized.
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The minister further highlighted the need for Indonesia to be quick in adapting to the digital economy. The synergy between Macro, Small, and Medium Enterprises (MSMEs) and SOEs companies is deemed crucial to achieve a digital ecosystem.
In this case, the synergy between MSMEs and SOEs companies is in the form of funding, infrastructure, and market. Once the goal is achieved, the company must be able to perform in a digital ecosystem.
"This is what we see. We have initial thoughts. However, I did have some concerns at that time. If we create a new entrepreneur, but if the digital talent force comprised foreign workers, then it would be a waste. Ensure that foreign workers do not fill the position in the businesses that we create," he remarked.
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From the raised issue, Thohir proposed an idea to create collaboration not only with the minister of education, culture, research and technology but also with the experienced private sector. SOEs in the Merah Putih Fund also invite those from the national private sector.
"I am very optimistic, especially with the support of President Joko Widodo. He also has a bigger vision when we speak about corporations. He speaks about e-government as well. I think we must ensure that this program can run well, by God's will," he noted.
Earlier, Thohir remarked that President Joko Widodo will launch the Merah Putih Fund in order to offer assistance through funding for local start-ups.
He added that the Merah Putih Fund will be launched with three common threads: the founder is Indonesian, operates in Indonesia, and must go public in Indonesia.
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Translator: Aji Cakti, Resinta S
Editor: Fardah Assegaf
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