REPUBLIKA.CO.ID, JAKARTA -- President Joko Widodo (Jokowi) is eager to increase the number of startup companies reaching the unicorn level in Indonesia. Unicorn is a term for startups that are worth more than US$1 billion.

"I am happy that within four to five years, we already have several unicorn companies. There are already four, but I want the number to increase even more," Jokowi stated while opening the Ideafest 2019 creative festival at the Jakarta Convention Center here on Friday.

There are at least four unicorns in Indonesia: Go-Jek, Tokopedia, Traveloka, and Bukalapak.

"Zaki with Bukalapak, oh here is here? Willem with Tokopedia, Nadiem with Gojek. When I went to Vietnam, I was invited to open (a new product of Gojek) there, (named) Goviet, which was Gojek's international expansion plan, with the first market being Vietnam. I am happy because Indonesian technology has entered other countries. That is what I want," the president noted.

He expressed hope that through Ideafest 2018, new unicorns will come up.

"We encourage (startups) with a policy, but if Ideafest can bring together content creators, innovators, investors, and financial institutions, then the industry can develop (new unicorns). Yet, it is not that easy, and it must be supported by a good ecosystem," the president added.

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