"Under Government Regulation Number 24 of 2022, creative economy entrepreneurs can apply for financing using intellectual property rights (IPR) that have been registered with the bank and non-bank financial institutions as collateral," she said.
Currently, the banks’ institutional financing scheme is being reviewed under the supervision of the Financial Services Authority (OJK), she said in a written statement released in Jakarta on Saturday.
She explained that education regarding Government Regulation Number 24 of 22 is needed to make the community aware of its benefits.
"This socialization does not only aim to increase public awareness or interest in intellectual property, but also aims to socialize stakeholders regarding IPR-based financing schemes," she added.
Besides using IPR as collateral, she said that the regulation also outlines alternative financing schemes for creative economy entrepreneurs.
Article 15, Paragraph 1 of the regulation regarding the “Development of Alternative Financing Sources” states that “The government can develop alternative sources of financing outside of the financing institution mechanism.”
The alternative financing here refers to information technology-based joint funding services, and/or securities offerings through information technology-based crowdfunding.
Articles 7 and 8 of the regulation state that a number of conditions will have to be met by creative economy entrepreneurs in order to obtain financing easily and quickly.
Meanwhile, the CEO of security crowdfunding company Bizhare, Heinrich Vincent, said the regulation provides opportunities for the public to get actively involved in providing funding for IPR-based creative economy entrepreneurs through stocks, bonds, and sukuk, and it is also expected to make it convenient for creative economy entrepreneurs to develop their products.
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Translator: Sinta Ambarwati, Resinta S
Editor: Rahmad Nasution
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