Badung, Bali (ANTARA) - The Ministry of Communication and Informatics brought together 80 start-ups and dozens of foreign investors through the HUB.ID Summit X Nexticorn 2023 held on September 15-16, 2023, in Nusa Dua, Badung, Bali.

"In today's activity, we are involving 80 digital start-ups and invited 80 global venture capital (firms). We are also involving more than 16 start-up sectors and 10 venture capital countries," the ministry's Director of Digital Economy, I Nyoman Adhiarna, stated here on Friday.

The HUB.ID Summit is initiated by the ministry's Directorate General of Informatics Application as a business meeting forum between digital start-ups, local and global venture capital companies, industries, ministries and institutions, state-owned enterprises (SOEs), and business partners.

According to Adhiarna, the development of Indonesia's start-ups in recent years has encouraged the government to support start-ups to compete in the global market, including by creating an adequate business climate and supporting regulations.

"This (the event) was born to build cooperation and collaborative synergy with various stakeholders. Thus, this year, we are collaborating with Nexticorn," he stated.

Related news: Indonesia invites European investors to HUB.ID Summit

Nexticorn is an Indonesian independent umbrella advocacy organization for Indonesia's start-ups, technology, and venture capital community ecosystem.

He remarked that the government's role will change significantly, from earlier focusing to serve as a regulator to becoming a driver and accelerator so as to ensure that the business continues to grow and develop into a new economic force.

He is upbeat that cooperation and similar events would continue to be promoted to drive growth of the digital economy in Indonesia.

Adhiarna projected that in 2025, Indonesia's start-up companies would contribute US$130 billion to the country's digital economy value.

"I see that start-ups are very significant actors in realizing the achievements of Indonesia's digital economy," he stated.

He expressed optimism that going forward, start-ups would offer solutions to problems that Indonesia is facing and have a significant impact on the Indonesian people.

Related news: Minister highlights start-ups' role in boosting economy

Related news: Build strong foundation to face tech winter: govt to start-ups

Translator: Rolandus Nampu, Raka Adji
Editor: Yuni Arisandy Sinaga
Copyright © ANTARA 2023