Wednesday, 22 May 2019 | 05:40 WIB

Minister of Communication and Information Aims Indonesia to Have 10 Unicorns by 2020

Minister of Communication and Information, Rudiantara

JAKARTA, NNC - Minister of Communication and Information, Rudiantara aspires Indonesia to have 10 unicorn startup companies by 2020.

"There will be a thousand startups in 2020, and 10 unicorns," said Rudiantara, during the Grab 4 Indonesia event in Jakarta, Wednesday (8/28/2018).

The Ministry of Communication and Information and KIBAR have a 1000 Digital Startup program to encourage the development of the digital industry in Indonesia. Meanwhile, Indonesia has four startups classified as unicorns, which are those that have a valuation above US$ 1 billion, namely GO-JEK, Bukalapak, Traveloka and Tokopedia.

Rudiantara sees that there is one challenge in the Indonesian digital startup world, namely the lack of technical talent.

To overcome this, the Ministry of Communication and Informatics tries to provide education scholarships to Beijing and Bengaluru in an effort to accelerate the growth of unicorn startups in Indonesia.

The Minister also stated that Indonesia needs foreign investment that could provide added value, not only to make Indonesia a market.

The government, he said, is open to discussing taxes and incentives for foreign investors who want to invest in Indonesia.