Business & Economy Startups Indonesian “1000 Startups” initiative being renewed by the government

Indonesian “1000 Startups” initiative being renewed by the government




- Advertisement -

The initiative is updated with the agenda to bring entrepreneurship programs to five more cities

The IT ministry of Indonesia and several ecosystem stakeholders in the country’s digital sector has reportedly launched the “1001 Digital Startup Movement”, as reported by KrAsia.

The “1001 Digital Startup Movement” is a continuation of the “1000 Startups” program that was initiated in 2016. It was a coordinated effort by multiple public and private sector stakeholders to boost entrepreneurship across the country.

In its first installment, the program was conducted in ten major cities; Jakarta, Bandung, Surabaya, Yogyakarta, Semarang, Malang, Medan, Bali, Makassar, and Pontianak, having participants underwent meet-ups, workshops, hackathons, to boot camps and incubation programs.

For three and a half years of its implementation, the program hasn’t successfully given birth to 1,000 startups. It says that only 525 digital startups with promising business were formed as a result.

- Advertisement -

In an official statement, the ministry’s official Lis Sutjiati said that this time, “1001 Startups” will focus on expanding the scale of coverage and improving the quality of its startup development activities. It will revise the program curriculum to focus more on incubation activity.

Also Read: Liquid Group partners JETCO, facilitates cross-border QR payments

The program will also expand to five new cities, namely Batam, Lombok, Padang, Balikpapan, and  Manado. It will target to have 5000 startups in the next five years.

The Indonesian government is doing its part to give its startup’s ecosystem a leg up. In April, IT minister Rudiantara inaugurated the NextICorn Foundation that aims to provide opportunities for more mature startups to get access to growth capital and technology and marketing support. With it, the minister targets to have at least 20 new unicorns in Indonesia by 2025.

Right now, the country counts four tech companies valued at over US$ 1 billion now,

The post Indonesian “1000 Startups” initiative being renewed by the government appeared first on e27.

Source: E27Follow us on Social Media

Send in your scoops to 

- Advertisement -

Prince Harry and Meghan Markle announce their first Netflix series

  The Duke and Duchess of Sussex's first project with Netflix will highlight one of the Duke's most passionate causes. Founded by Harry in 2014, the Invictus Games is the Paralympics-style competition for wounded service personnel and veterans. Harry and his wife Meghan...

S’pore to contribute S$27.7m to IMF for low-income countries coping with Covid-19, MPs show support

Singapore – Parliamentarians supported Singapore's US$20.57 million (S$27.7 million) contribution to the International Monetary Fund (IMF) initiatives to help the vulnerable and low-income countries cope with the Covid-19 pandemic. During a parliamentary sitting on Monday (Apr 5), members of Parliament (MPs) on...

Jamus Lim cites experience as a struggling PhD student in the US to urge SG to give more generously 

Singapore—In Parliament on Monday (Apr 5), the Workers' Party's Dr Jamus Lim (Sengkang GRC) voiced his support for grants that would go to the International Monetary Fund (IMF) in the aid of vulnerable countries. Dr Lim, an associate professor of economics, said that...
Follow us on Social Media

Send in your scoops to