"A plan must be devised to produce new entrepreneurs, especially from the youth," Masduki said during the pre-departure event for Education Fund Management Institution (LPDP) scholarship recipients in Jakarta on Friday (June 16).
The government is aiming to increase the entrepreneurship ratio to 3.95 percent, and to achieve this goal, the ministry collaborates with universities in developing business incubators, he explained.
The minister pointed out that South Korea and Japan have successfully produced new entrepreneurs from the educated and university-graduate youth group.
He highlighted that South Korean youth are eligible to receive certification if their advanced technology-based business idea is approved by an assessment agency.
"The certification allows them to receive collateral-free business capital from banks," he stated.
Masduki remarked that if Indonesia increases its entrepreneurship ratio to 3.95 or even 4 percent, this will improve the quality of Indonesia's employment, which is currently dominated by micro-scale entrepreneurship by 96 percent.
"We need to create new entrepreneurs by design, not because they are not accommodated by available employment," he said.
Masduki remarked that currently, all countries in the world are seeking to highlight their domestic prowess, including Indonesia, which has various natural resources potentials that can be crafted in the downstream sector.
He expressed optimism that educated youth would continue their studies to create and utilize advanced technology.
"I encourage students who receive the LPDP scholarship to become advanced technology-based entrepreneurs," he said.
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Translator: Kuntum Khaira R, Nabil Ihsan
Editor: Anton Santoso
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