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Indonesia targets Rp1 trillion for startups through Garuda Spark

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Jakarta (ANTARA) - Indonesia aims to raise funding for startups under its Garuda Spark Innovation Hub program to Rp1 trillion this year, building on about Rp400 billion already secured, an official said Tuesday.

“We hope to secure Rp1 trillion in funding this year,” Director General of Digital Ecosystem at the Ministry of Communication and Digital Affairs Edwin Hidayat Abdullah told reporters at the ministry's office in Jakarta.

Edwin said the ministry was partnering with city governments and other local partners to develop the hubs without necessarily building new facilities.

“We do not have to build everything from scratch. Some of the hubs are developed through partnerships with city governments,” he said.

In Yogyakarta, the hub is being developed in partnership with the Multi Media College (STMM), while the hubs in Malang and Makassar are being established in cooperation with their respective city governments.

The ministry provides startup development programs at the hubs, while local partners contribute facilities and other support. Edwin said work was underway at all 10 hubs, although progress varied by location.

“So far, all the initiatives are underway, although some are more advanced than others, while some are still in progress,” he said.

The ministry also facilitates Hub.ID, a separate program that connects startups with investors and creates opportunities for business partnerships.

Garuda Spark Innovation Hub connects 10 cities across Indonesia, expanding regional access to technology networks, investors, industries and markets.

The program aims to help startups outside major urban centers access mentoring and funding opportunities, while connecting them with industrial and international partners.

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