...since the development of a digital start-up ecosystem is one of the keys to accelerating digital transformation...
Bali (ANTARA) - The Communication and Informatics Ministry has inaugurated the HUB.ID Summit 2022 to help start-ups obtain funding for developing their businesses and implementing technology innovations.

“The HUB.ID Summit will become a regular event, which will focus on business matchmaking between digital start-ups with venture capitalists as well as business partners,” Director for Digital Economy at the ministry I Nyoman Adhiarna said here on Monday.

The event is also expected to showcase the potential of Indonesian start-ups and the digital economy sector to international venture capitalists, he added.

The HUB.ID Summit 2022 is the main event of a series of incubation and acceleration programs that have been implemented by the ministry earlier, he said.

The start-ups participating in the event have undergone an assessment and met the criteria as companies in pre-seed to pre-series A stage funding.

At least 80 start-ups have been selected to take part in the event from five business sectors, namely enterprise and government technology, agriculture technology, health technology, social commerce and small and medium enterprise (SME) enablers, as well as Web 3.0 – the third generation of web-based Internet technology services.

The start-ups will take part in business meetings with 80 venture capitalists and other business partners during the HUB.ID Summit.

"Through the program, I also expect that Indonesian digital start-ups can develop their businesses and optimize their full potential since the development of a digital start-up ecosystem is one of the keys to accelerating digital transformation, especially in supporting the digital economy in Indonesia," Adhiarna said.

More than 800 business meetings are expected to be held during the summit, which can be optimized by start-ups to open business networks and explore funding opportunities with venture capitalists.

The HUB.ID Summit had also been held last year under the name of HUB.ID Accelerator 2021. Sixteen start-ups participated in the HUB.ID Accelerator 2021 and succeeded in obtaining US$16.65 million in funding to develop their businesses.





Translator: Livia Kristianti, Uyu Liman
Editor: Rahmad Nasution
Copyright © ANTARA 2022