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KUMPUL Executive Lab Forum 2024 tackles MSME growth, financial inclusion, gender equality
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K
UMPUL recently held its Executive Lab Forum 2024 in Central Jakarta, gathering key stakeholders to discuss critical issues in Indonesia’s entrepreneurial ecosystem. The event focused on three pressing challenges: limited market access and MSME growth, financial inclusion and gender inequality in entrepreneurship.
The forum, themed "Collaboration for Empowering Innovation and Global Reach", brought together representatives from the government, private sector and NGOs. Using the World Café format, the event encouraged dynamic discussions, led by notable speakers such as Hanifah Makarim from the Tourism Ministry and industry leaders from FWD Insurance, BNI Ventures and AMMAN MINERAL.
Faye Wongso, chair of KUMPUL, highlighted challenges facing entrepreneurs, including high bankruptcy risks for women-led businesses and limited research and development funding, currently at only 0.28 percent of Indonesia's GDP. Logistical hurdles also hamper MSME growth, especially in remote regions.
Key discussion points included the need for MSMEs to specialize within supply chains; improving their competitive edge; and the potential for blue, green and circular economy strategies to boost market access.
Salman Alibhai of the World Bank proposed the “KUR Graduation” program, which would allow MSMEs that repay initial loans to access more flexible commercial financing, thus supporting sustainable capital growth.
KUMPUL’s managing director, Mega Prawita, stressed the importance of bridging capital access gaps for MSMEs, as 60 percent struggled with credit access as a result of collateral limitations. The event concluded with a commitment to ongoing partnerships aimed at fostering entrepreneurship and achieving Sustainable Development Goals (SDGs) related to gender equality and economic growth.
