Indonesia’s Ministry of Creative Economy/Creative Economy Agency (Ekraf) is exploring collaboration with the Association of Venture Capital for Indonesian Startups (AMVESINDO) to expand access to non-bank funding for creative economy players, particularly startups, in Jakarta (21/09).

The collaboration is aimed at building a sustainable financing ecosystem so creative economy players can grow and move to a higher level.

Creative Economy Minister and Head of the Creative Economy Agency Teuku Riefky Harsya said stronger access to funding is an important part of efforts to develop the creative economy as one of the engines of national economic growth.

“President places the creative economy as a new engine of national economic growth that starts from various regions, so it is not only concentrated in big cities. Indonesia’s potential in creativity, innovation, and cultural strength must be supported by a complete ecosystem, including access to funding and investment, so that creative economy players can develop more sustainably,” Riefky said.

Collaboration Addresses Startup Funding Challenges

The meeting discussed critical challenges and declining funding faced by Indonesia’s digital startup ecosystem.

The discussion also covered potential strategic cooperation in sustainable funding, matchmaking, business assistance, wider market networks, and cooperation between the government and business organizations to accelerate access to training and global markets.

The two sides also discussed proposed fiscal and non-fiscal incentives, easier licensing, and the commitment of venture capital firms as key partners in the growth of the national creative economy.

Riefky said the Ministry of Creative Economy is focused on helping creative economy players that have already developed to move up to become national companies and eventually operate on a global scale.

“The Ministry of Creative Economy is focused on encouraging creative economy players who are already empowered to move up to become national companies and even operate on a global scale. Collaboration with AMVESINDO opens opportunities for more creative economy players to gain access to capital and expand their businesses widely. In addition, existing collaborations must not stop at events, seminars, and pitching sessions. The core issues that we need to address together must immediately be developed into strategies and a coordination timeline with the relevant deputies,” he said.

AMVESINDO Supports Startup Ecosystem Development

AMVESINDO is an official association of venture capital companies established on May 13, 2016, and recognized by the Financial Services Authority (OJK).

The organization serves as a collaboration platform to support the growth of Indonesia’s startup ecosystem through stronger funding access, business assistance, and the development of investment and innovation policies.

AMVESINDO Chairman Eddi Danusaputro said the venture capital industry is increasingly paying attention to high-value sectors and startups with clearer growth and profitability paths.

Startup Maturation Map Assesses Business Readiness

AMVESINDO has developed the Startup Maturation Map, a self-assessment tool that examines startup maturity across governance, human resources and culture, financial integrity, risk and compliance, and technology and infrastructure.

“Thank you to the Minister of Creative Economy for the discussion, and what has become our joint homework will immediately be worked on, and the Minister’s directions will also be implemented immediately. Hopefully, this synergy will open more opportunities for businesses, jobs, and the work of Indonesia’s young generation to grow and go global,” Eddi said.

During the meeting, Riefky was accompanied by Deputy for Digital Creativity and Technology M. Neil El Himam; Special Staff to the Minister for Strategic and Inter-Institutional Affairs Rian Firmansyah; Director of Technology Creativity Dandy Yudha Feryawan; and Ministerial Expert Staff for Strategic and Inter-Institutional Affairs Gemintang Kejora Mallarangeng.

PHOTO: MINISTRY OF TOURISM AND CREATIVE ECONOMY

This article was created with AI assistance.

We make every effort to ensure the accuracy of our content, some information may be incorrect or outdated. Please let us know of any corrections at [email protected].