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Jakarta Post

Many start-ups still immature despite govt funding

  • Norman Harsono

    The Jakarta Post

PREMIUM
JAKARTA   /   Mon, April 22, 2019   /  03:05 pm
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Bank Central Asia (BCA) is collaborating with start-up accelerator program Digitaraya, which is powered by tech giant Google, to launch a new accelerator project called SYNRGY as an innovation hub for start-ups.(Antara/Audy Alwi)

  The Research, Technology and Higher Education Ministry has channeled millions of dollars to fund thousands of local technology start-ups over the past four years. But despite the impressive support, many of these companies are still performing poorly. “The government has so far chased high training targets for start-ups without evaluating [their progress] and realizing that many of them have failed,” said Indonesian E-commerce Association (idEA) chairman Ignatius Untung He added that several ministries have been either launching or scaling various start-up programs in response to an ongoing euphoria over Indonesia’s digital economy.  For example, the Research, Technology and Higher Education Ministry, through its tech-based start-up (PBBT) program, has funded 1,307 start-ups over the past four years. However, nearly half of them are still at the pro...