Bandung Startups Spirit

“Bandung Startups Spirit”

Representatives of Mexico, Indonesia, Republic of Korea, Turkey and Australia (MIKTA) concluded the meeting on “MIKTA Startup Fest: Accelerating Creative Economy through Startup Promotion” held in Bandung, Indonesia on 29-30 August 2018. MIKTA Startup Fest is aimed at connecting startup companies with potential users, investors and partners; create opportunities and identify challenges of startup development; showcase startups’ success stories and challenges; as well as galvanizing business matching potentials.

Key Messages

MIKTA Startups Fest discussed broad issues related to landscape, opportunities and challenges to startups development in their countries, also exploring ways in developing startups sustainability and promoting innovations. Key messages highlighted during the discussions are among others:

Startup with its core values of innovation and creativity is an essential engine for creative economy.

Creative economy is acknowledged as an important catalyst of economic growth.

There is a need to build more collaboration and further cooperation among incubators, accelarators, business startups and other related stakeholders.

MIKTA countries have acknowledged the importance of sharing best practices and lessons learned in building startup’s networks.

Startups should be innovative and relevant to the market, and able to provide solution to society.

Business startups need to be constantly connected to the ecosystem hence underlined the importance to collaborate with all related stakeholders.

The availability and access of funding at multi stages of startups development are critical to ensure sustainability.

To obtain sustainability, startups need to acquire technology advantages and best talents, provide value added products/services, proactive in getting support, mentoring and funding as well as to keep learning and do better.

Startups are encouraged to develop creative solutions by focusing on local and regional problems.

Representatives of MIKTA countries emphasized the need to developing concrete steps of collaboration in achieving startup developments. Thus, it is important to continue support for relevant activity, such as MIKTA Startup Fest and further the discussion of future MIKTA cooperation to inspire the creation of new startups as well as to grow existing startups.

Representatives of MIKTA countries supported the upcoming the World Conference on Creative Economy (WCCE) to be held in November 2018 in Bali, Indonesia, and express hope for its role to promote concrete results in developing startup businesses.

Representatives of MIKTA countries acknowledged the importance of relevant site visit such as to Bandung Digital Valley (BDV) as a complementary program for MIKTA Startup Fest. Such program is useful in providing local context perspective and learning experiences on creative industries development.

Representatives of MIKTA countries welcomed the outcome of “Bandung Startups Spirit” and look foward to be addressed at the ministerial level.

Representatives of MIKTA expressed their gratitude to the Government of Indonesia as host of the MIKTA Startup Fest: Accelerating Creative Economy through Startup Promotion in Bandung.

Bandung, 30 August 2018