Creating One Million New Entrepreneurs by 2024

Antara News are reporting that the Ministry of Cooperatives and Small and Medium Enterprises (SMEs) remains committed to realizing the entrepreneurship ratio target of 3.95-percent by creating one million new entrepreneurs by 2024.

This target is mandated in Presidential Regulation No. 2 of 2022 on 2021-2024 National Entrepreneurship Development.

Cooperatives and SMEs Minister Teten Masduki, has said the target can be achieved through collaboration between the central government and regional governments, say Antara News.

In this case, the central government is tasked with producing 600,000 new entrepreneurs while it is the responsibility of the regional governments to create the rest of the 400,000.

By the end of 2022, the government managed to produce 392,847 new entrepreneurs through various strategies planned by the ministry, Masduki said, including:

  • the business incubation programme
  • digitalization of the ministry
  • business consultation and assistance
  • entrepreneurship development activity at the Integrated Business Service Center (PLUT), and
  • complete data collection in each region.

In 2022, the ministry conducted 36-entrepreneurship development activities for prospective entrepreneurs, beginner entrepreneurs, and veteran entrepreneurs. Through these activities, the ministry managed to assist 36,821=entrepreneurs comprising 17,790-prospective entrepreneurs, 16,144-beginner entrepreneurs, and 2,887-veteran entrepreneurs.

“For this year’s entrepreneurship development, we will schedule various activities to repeat the success in 2022 through various innovations that we expect will be able to produce more quality entrepreneurs,” Masduki announced.

Entrepreneurship Deputy at the ministry Siti Azizah stated that for this year, the ministry had scheduled business incubation for 100 to 120-startups at eight incubator institutions.

These eight incubator institutions comprise:

  • West Nusa Tenggara’s Regional Research and Innovation Agency
  • INBIS-Syiah Kuala University
  • North Sumatra University’s Innovation Research Development Agency
    The Indonesian Technology Institute’s Innovation Center and Business Incubation (PI2B-ITI)
  • Bali Business Incubator Institution
  • Bandung STIA-LAN, and
  • Trilogi University’s Incubator Institution.

“Why are we involving many campuses? (It is) because we expect that the research results can be commercialized. This startup founding idea can also come from research results. We have already conducted a comparative study to Melbourne, Australia,” she explained.  

Source: Antara News

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