IDX LAUNCH INCUBATOR TO HELP STARTUPS GO PUBLIC

The local bourse launched a startup incubator program on Thursday (23/03) to encourage the growing number of technology startups to undertake initial public offerings.

The business incubation program is aimed at helping create and develop early stage companies or business by given them the necessary support in financial and technical services. Such programs are commonly undertaken by private companies and institutions, including universities and agencies.

Startups in Indonesia have promising prospects as the country's internet economy is projected to generate $81 billion in revenue by 2025, according to a collaborative study by technology giant Google and Singapore-based wealth fund Temasek, published last year.

Indonesia currently has more than 2,000 startups, topping the list in the region, followed by Singapore (1,850), Vietnam (1,541) and the Philippines (400).

"We want to support these young people to grow their businesses and make it into billion-dollar publicly listed companies," Indonesia Stock Exchange (IDX) president director Tito Sulistio told the media on Thursday. The bourse has so far registered 24 startups for the program.

Tito said the program will focus on helping startups raise funding or capital for their business and later encourage them to meet the requirements for going public.

Nurhaida, commissioner for capital market supervision at the Financial Services Authority (OJK), said the incubator program could encourage at least 1,500 startups to pursue IPOs in the next five years.

The IDX's incubator offers startup founders mentorship classes and skills training, while preparing them to pitch their business to venture capital funds.

The first step of the program involves helping founders to turn their ideas into prospective business products. The next step is aimed at encouraging founders to publicly launch their products.

After that, they will receive guidance on how to develop their business and take it on to the next level, before encouraging them to go public.

The IDX also aims to open another incubator program in Medan, North Sumatra, and in Surabaya, East Java, preferably near major universities.

Thursday's launch was also attended by Bank Mandiri vice president Sulaiman A. Arianto and representatives of state-controlled Telekomunikasi Indonesia (Telkom), broadband operator Link Net, the Creative Economy Agency (Bekraf) and the Indonesian Chamber of Commerce and Industry (Kadin).

NOTES :

RED : GERUND

-          Growing

-          Helping

-          Including

-          Promising

-          Topping

-          Training

-          Preparing

BLUE : PAST TENSE,PRESENT,FUTURE TENSE

present tense :

-          Indonesia currently has more than 2,000 startups 

     The bourse has so far registered 24 startups for the program.

future tense :

-          Tito said the program will focus on helping startups raise funding or capital for their business

-          they will receive guidance on how to develop their business and take it on to the next level

past tense :

-          Thursday's launch was also attended by Bank Mandiri vice president Sulaiman A.

GREEN : REGULAR VERB                                ORANGE : IREGULAR VERB

Regular verb :

-          LAUNCHED

-          AIMED

-          BASED

-          PUBLISHED

-          FOLLOWED

-          LISTED

Iregular verb :

-          Given

-          Study

-          Said

-          Told

-          go