VOI - Voice of Indonesia | RRI - Radio Republik Indonesia

VOINews, Malang: The presence of startups in Indonesia holds a crucial role in advancing the global economy, according to Christina Agustin, Assistant Deputy for Information Technology Development and Business Incubation at the Ministry of Cooperatives and SMEs. Speaking in Batu City on Saturday, Christina emphasized the significant potential that startups have to become key economic drivers in various countries, including Indonesia.

"Startups have the potential to be powerful economic engines, particularly in Indonesia," Christina remarked. Her comments underscored the vital role that innovative startups can play in shaping the future of the business world, particularly as they are often spearheaded by young entrepreneurs known for their fresh and transformative ideas.

"Through startups, these ideas can be turned into solutions that have a positive impact on society and the economy," she added, highlighting the transformative power of innovation-driven enterprises.

As of January 2024, Indonesia is home to 2,562 startups, placing the country sixth in the world in terms of the number of startups. This growing ecosystem reflects Indonesia's vibrant entrepreneurial landscape and its potential to contribute significantly to the global economy.

In a bid to support the growth of these startups, the Ministry of Cooperatives and SMEs has launched a business incubation program titled "Startup Capacity Building," held at a hotel in Batu City this week. This initiative is part of the government's ongoing commitment to fostering the development of startup companies in Indonesia.

The program has garnered support from various stakeholders, including digital companies Ngalup Collaborative Network and Beon Intermedia. Andina Paramitha, CEO of Ngalup Collaborative Network, noted that many startups participating in the event have shown great potential in fostering business growth. However, she pointed out that some startups still need to strengthen their product background and business models.

"Some startups need to refine their business models to be more focused. All the competitors are impressive, with great ideas," Andina observed. Her remarks highlight the importance of a clear and robust business strategy in ensuring the success and sustainability of startups.

Farid Rahman, the founder of Beon Intermedia, echoed this sentiment, adding that some competition participants have already achieved market acceptance and have developed long-term business plans. He emphasized the importance of scalability in startups, noting that the goals of a startup should be clear and achievable.

"Startups must have clear scalability. Their objectives should be well-defined and achievable. It's essential for them to remain flexible and adapt to changes," Farid stated. His advice underscores the need for startups to maintain agility and a forward-thinking approach in order to thrive in a rapidly evolving market.

The "Startup Capacity Building" program and the support from digital companies like Ngalup Collaborative Network and Beon Intermedia demonstrate the collaborative efforts being made to strengthen Indonesia's startup ecosystem. Through these initiatives, Indonesia aims to nurture its startups, ensuring they can contribute meaningfully to both the national and global economy./ANTARA/VOI