theIndonesian – The Ministry of Communication and Information Technology (Kemenkominfo) stated that 132 local early stage startups that graduated from the Startup Studio Indonesia (SSI) program have received funding of more than IDR 1 trillion (US$ 65.8 million).
“The government is committed to providing a practical, appropriate training curriculum that meets the needs of startups,” said the Ministry’s Director of Digital Economy, Boni Pudjianto, in an official statement, Wednesday (15/5).
Since its launch in September 2020, the SSI program initiated by the Ministry of Communication and Information has produced 132 startup alumni who have shown significant business growth. As many as 50% of SSI alumni have established strategic partnerships with private and government partners. In addition, around 32% received follow-on funding.
Boni stated that by 2024, the ministry will support 150 early-stage startups in Indonesia to grow further in terms of number of users, revenue, employment, and funding.
To achieve this goal, the ministry is again looking for local startups through the SSI program to scale their businesses and provide intensive coaching. This year, the government is working with global technology company IBM on the program.
IBM Indonesia President Director Roy Kosasih said IBM will help local startups scale up and improve their business results. “IBM will continue to explore Indonesia’s digital potential,” he said.
The Indonesian
