The Indonesian Ministry of Industry has been aggressively promoting digital economic transformation by encouraging collaboration between industry players and developing startups as exhibited during the Tech Link Summit 2024 held from July 18-20 in Jakarta.

Minister of Industry Agus Gumiwang Kartasasmita emphasized the event's role in providing industries with opportunities to explore applied technologies across various business processes, including production lines, warehousing, marketing, logistics and transportation, waste management, energy efficiency, and company management.

The Tech Link Summit was meant to showcase the benefits and introduce the concept of technology transformation through partnerships with Indonesian startups. The goal is to inspire industries and the broader community to begin their journey toward technological transformation.

Agus projected that Indonesia's digital economy could reach US$110 billion (Rp1,779 trillion) by 2025, largely driven by the substantial number of startups in the country.

“We can be proud of our startups as they rank sixth in the world,” he said during the summit at the Digital Industry Center 4.0 in Jakarta.

According to Startup Ranking, Indonesia ranks sixth globally in the number of startups, with 2,566 startups as of January 2024. This places Indonesia behind the United States (78,073 startups), India (16,302), the United Kingdom (7,079), Canada (3,876) and Australia (2,793), but ahead of Germany (2,445), France (1,650), Spain (1,492), and Brazil (1,185).

Indonesian startups have significantly contributed to the country's digital economy, which reached a value of US$82 billion (Rp1,326 trillion) in 2023.

Reni Yanita, Director General of Small, Medium, and Miscellaneous Industries at the Ministry of Industry, said that the ministry facilitated one-on-one business meetings for 60 industry players and 54 tech startups during the event.

The summit also featured eight seminar sessions, 11 workshops, and a technology exhibition showcasing 15 startups.

Reni noted that the Tech Link Summit resulted in cooperation agreements between 17 startups and 18 industrial enterprises, with a total transaction value of Rp47 billion.

"The signed cooperation agreements are valued at Rp47 billion," she said.

In addition to these business agreements, the Directorate of Metal, Machinery, Electronics, and Transportation Equipment SMEs signed cooperation agreements for the growth and development of tech-based startups.

Partners include PT Akselerasi Ide Nusantara (Alpha JWC Ventures), PT New Energy Nexus, Venturi Startup Studio, and Leave a Nest Group.