By CGTN’s Silkina Ahluwalia
The Indonesia Stock Exchange (IDX) is willing to support young companies through their Startup Incubator program. The business incubation program is aimed at helping to create and develop early stage businesses by giving them the necessary support in financial and technical services. It is expected to help enterprises grow into billion-dollar publicly listed businesses.
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Indonesia currently has more than 2,000 startups, topping the list in the Southeast Asian region, followed by Singapore, Vietnam and the Philippines. But funding remains an issue for many young entrepreneurs in the country.
“Startups need to put extra effort to penetrate the market compared to conventional companies. That's where investors play a big role in the expansion of our business. We need a platform to meet investors that share the same visions as us,” said Edi Sunandar, a startup owner.
IDX has registered 24 startups for the incubator program so far. The program will focus on helping startups raise funding for their business, and later encourage them to meet the requirements for going public.
The first step of the program involves helping founders to turn their ideas into prospective business products. The next step is aimed at encouraging founders to publicly launch their products.
“We are building a community where investors can be a part of these startups' growth. Indonesia is filled with young talents, we want to foster their ideas and turn them into reality” said Irma Amran, director of IDX Incubator.
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Besides, Amran noted that about 20 startups would be selected every six months to undergo special training. The training will help raise funding for the businesses by connecting the companies to angel investors.
The program also focuses on educating participants on the importance of marketing and promotions in today’s social media era.
Startups in Indonesia have a promising future. The country's Internet economy is projected to bring in more than 80 billion US dollars in revenue by 2025. That makes startups an essential part of Indonesia’s economic growth.
And as the digital industry strengthens in the country, this program is especially important, providing young companies with the necessary financial and technical services to thrive in Indonesia’s startup ecosystem.
