REPUBLIKA.CO.ID, JAKARTA -- Minister of Communication and Information Rudiantara said companies in education technology (edutech) in Indonesia have the potential to become unicorn companies. Broadly speaking, he said there are three types of startups that are likely to become unicorns in Indonesia, namely edutech, healthtech, and fintech.
"I am not an investor in this field, so I do not know which one will be (unicorn). (Companies) in the edutech sector and in the field of health technology will have a big chance," Rudiantara stated in Jakarta on Tuesday during a discussion on Start Up Asia developments.
The minister's opinion is quite reasonable, because from the allocation in the APBN, it is understood that education and health technologies each have an allocation of more than five percent. Indonesia currently has four startups that are classified as unicorns, or which have a valuation above US$1 billion, namely Go-Jek, Bukalapak, Traveloka, and Tokopedia.
"I always say that the next Unicorn would be education. This is because based on the constitution, 20 percent of the state budget must be spent on education," explained Rudiantara.
"This year alone, Rp400 trillion more has been disbursed for education. Next year, it will be even bigger. That is, if you get only one or two percent, then the funds that will enter can reach Rp10 trillion. So it will be big," he remarked.
For the second type, Rudiantara noted that health tech also had great opportunities, because the number that will be produced is not small.
"Based on our Constitution, we have to allocate 5 percent to health. Again, 5 percent is approximately Rp100 trillion more spent. One percent is already an unusually large number," he explained.
"And do not forget Fintech. Investors are happy with companies with high transparency. This means that the market will suddenly rise," Rudiantara pointed out.
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