Minister of Communication and Information Opens Up on Indonesia’s Startup Conditions, Gives This Message Tech – 1 hour ago

Jakarta, CNBC Indonesia – Minister of Communication and Information Budi Arie Setiadi sent a message to encourage the development of startups. That way, start-up companies can have resilience and adapt to various existing developments.

Since last year, global startups have been hit by the challenges of tech winter. Many of them finally decided to carry out mass layoffs and some even closed.

“Startups don’t just grow, they also… [harus] has endurance and is also able to adapt to various developments,” said Budi Road to CNCB Indonesia Awards 2023 CNBC IndonesiaThursday (23/11/2023).

He explained that the tech winter that occurred recently had a big impact on startups. For example, more than 200 thousand people globally were affected by mass layoffs.

Apart from that, there was also a decline in private funding. From the previous US$3.3 billion to only US$400 million during the first half of 2023.

“The private funding trend decreased by 87% year-on-year from US$ 3.3 billion to US$ 400 million in the first half of 2023. The startup trend is decreasing,” he said.

On the same occasion, Budi was also asked about the growth of the digital economy in Indonesia. He expressed optimism about this.

Some of the notes are the projected e-commerce GMV which is estimated to reach US$62 billion in 2023. Meanwhile, our compound annual growth rate will reach 15% in 2024.

“In the next two years there is still very large room for growth,” said Budi.

[Gambas:Video CNBC]

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