Best practice of start up in Indonesia

Abstract

Industry 4.0 which encourages the whole world to develop its industry based on digital technology, the internet with conventional industry is an opportunity that must be taken by Indonesia. The implementation of industry 4.0 in Indonesia today is the emergence of digital start-ups which have become Unicorns with valuations above USD 1 billion or equivalent to IDR 13.5 trillion. Currently the Indonesian government has encouraged the development of digital start-up which aims to boost the economy and create jobs. But what’s currently happening is even the biggest investment in unicorns that have succeeded in coming from foreigners. In addition, 93 percent of products sold online are imported. The city of Surabaya, which hosts the Startup Nations Summit (SNS), is a case study location that is most suitable for further developing the potential of the creative industry. Therefore the problem raised is how the development of a digital start-up in order to become a creative economic booster by examining UNICORN’s Best Practice that has been successful in Indonesia. This research was conducted using qualitative descriptive analysis techniques and content analysis in order to identify potentials strategies for developing digital start-ups to become creative economic boosters. Based on the results of content analysis conducted on five unicorn startups in Indonesia, three factors of development that need to be considered are human resources (innovating to solve problems, high commitment to become better, good management and quality human resources), good marketing factors, and capital that is easily accessible.