Analysis of The Role of The Government and Ventural Capital On the Development of Startup in Indonesia

Abstract

This study aims to analyze the role of the Government and Venture Capital in the development of startups in Indonesia. Research was conducted on startup companies in 2017 - 2020, analysis from the startup side comes from Qiwii.id which represents successful startups to date and failed Assistantku.com. On the other hand, analysis also comes from the Government and venture capital. The data search method uses direct interviews to data sources, then strengthened by analysis of research data from various parties such as dailysocial.id, Global Startup Genome, Techinasia.com, MIKTI, and various other parties. The research results prove that the Government does not play a direct role in the development of startups in Indonesia, but through the ecosystem, marketing support and regulations. Meanwhile, the taxation aspect of startups does not really have an impact on startups, because the majority of startups do not have income above IDR 4.8 billion (not including the taxpayer category). In terms of Venture Capital, it actually plays an active role in the development of startups because the nature of venture capital which also owns startup shares makes the commitment of both parties to develop their startups high. These various conditions are consistent with the balanced scorecard review in each startup.