The Ministry of Tourism and Creative Economy (Kemenparekraf) has highlighted that Indonesia holds the most dynamic ecosystem for startup development in Southeast Asia (ASEAN), with the country currently hosting over 2,500 active startups. "Indonesia is home to more than 2,500 active startups, making it one of the most dynamic ecosystems in Southeast Asia, with a significant contribution to the Indonesian digital economy sector," said Muhammad Neil El Himam, Deputy for Digital Economy and Creative Products at Kemenparekraf, in Jakarta on Monday. According to Neil, Indonesian startups contributed over USD 80 billion in 2023, with projections to grow to USD 130 billion by 2025. This growth is in line with the global startup ecosystem, which has recorded over 315 million units in various sectors, including technology, health, and fintech this year.
To support this accelerated growth, Kemenparekraf has launched the Baparekraf ScaleUp Champions (BSC) 2024 program, which aims to assist startups in developing innovations, expanding market reach, opening international expansion opportunities, and increasing success in global markets. The program also includes business matching, connecting startups with potential partners from various sectors. "I emphasize that this is not just a competition but an opportunity for startups to network," he added. In the initial phase, 330 startups registered, and after a thorough selection process, 20 were shortlisted. At the Startup Demo Day on 11 September, 10 finalists were chosen, and the top five startups will participate in a validation trip to Sydney, Australia, in October.
