Good news for all tech startups in Indonesia. Just recently, the Indonesian government, through its Ministry of Cooperations and SME, announced that they will soon regulate entrepreneurship and technology incubator development, which includes tech startups.

This move has actually been under process for a while now in line with the ASIAN Economic Society program effective in 2015. Ministry’s representative I Wayan Dipta further clarifies that this regulation will be publicly launched in March as they are still “waiting for the green light from president.” Representative Budyarto Linggowiyono of the Indonesian Chamber of Commerce further adds that it is important as a framework or guideline for entrepreneurship and technology incubators. He realises that Indonesia is lacking in export-value technology products and it is hoped that through this move, many startups will be able to produce quality products.

The Indonesian government recognizes the importance of entrepreneurship and technology incubators as providers of business mentorship, access to technology and market as well as capital funding. Added regulation means the government can better oversee and protect local SMEs in preparation for the ASIAN free market. What’s interesting is that the government also collaborates with four universities to form entrepreneurship incubator programs for its students. These universities are Bandung Institute of Technology for manufacturing, Bogor Institute of Agriculture for agroindustry, Brawijaya University for agro-business and Surabaya Institute of Technology for creative technology.

Earlier this year, the Indonesian government, through the Ministry of Cooperatives and SMEs also facilitated students entrepreneur hopefuls with for up to IDR 25 million (US$2,500) as their start-up capital. Through this facility, the ministry is very positive that students who have entrepreneurial spirit would succeed as entrepreneurs. A few examples of successful Indonesian entrepreneurs who started their business endeavours as university students are, among others, Chairul Tanjung, Elang Gumilang, Purdi E. Chandra, and Hendy Setiono.

Source: DailySocial

Image Credit: Jacque Watkins