Three start-ups have opportunity to become unicorns: minister rudiantara

Bali, Oct 13, (ANTARA) - Three types of start-ups -- edutech, health tech, and fintech -- are likely to become unicorns in Indonesia, according to Communication and Informatics Minister Rudiantara.

Indonesia currently has four start-ups -- GO-JEK, Bukalapak, Traveloka, and Tokopedia -- classified as unicorns, or with a valuation of over US$1 billion. Apart from these four, Rudiantara pointed to the presence of other members.

"People always ask me, who is the next unicorn? I always say, the clue, one is education. Why is it education? This is because our state budget, based on the 20 percent constitution, must be channeled for education," Rudiantara remarked after opening "The Nexticorn International Convention - Digital Paradise" in Bali, Saturday.

"This year alone, Rp400 trillion more was disbursed for education. Next year, there will be still more. That is, if only one or two percent, it is already 10 trillion, then one can just calculate what if it is two percent. Hence, it will be big," Rudiantara noted.

Rudiantara stated that health tech start-ups also held huge opportunity, as the numbers that will be produced are not small.

"This is since based on our constitution, five percent must be allocated to health. Again, five percent is approximately Rp100 trillion spent. If only one percent, it is still an unusually large number," he explained.

"Do not forget Fintech. For fintech, the transactions are high again. Investors are happy with companies whose transactions are high. This means the market suddenly rises," Rudiantara concluded.

Source: ANTARA News

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