Creative Economy Agency (Bekraf) is back to provide incentive in a form of  extra capital / asset investment for creative economy (ekraf) players that is also known as Government Incentive (BIP).

It has been going on since 2017, and specifically held for ekraf players engaged in digital app and developer of game, fashion, craft, culinary, and movie.

Capital is still the main issue for the creative industry players. After a strict  curation, Bekraf is to provide extra capital to accelerate their business. The agency led by Triawan Munaf has recorded many of those have no collateral for capital development, such as funding from the bank (unbankable) and still informal.

“Bekraf provides incentive as funding for curated players. Each company will receive up to Rp100 million to build up business and products,” Fadjar Hutomo, Bekraf’s Deputy of Capital Access.

The business player can register at Bisma. It starts from May 23rd to June 12th 2019. Few stages are include administration, substansial presentation and interview, verifiation of field and financial plan.

Focus to game developer and digital app

In 2017, BIP members from digital sector are 15 digital apps and game developers come from 18 cities in Indonesia. From the digital sector last year, are 12 digital app and game developers.

This is an ideal opportunity for local developer or startups looking for extra capital to receive BIP in 2019.

The incentive can be used to develop business and products, such as office rent and software, material, tools, and supported device.

The selected beneficiaries should submit the report to Bekraf for at least 30 days after the disbursement. Monitoring-Management-Evaluation (MPE) team will be monitoring the financial plan to make sure it was done accordingly to the regulation.

There are some requirements for game developers, the fund should not be for payroll or talent acquisition, except for digital app sub-sector and game developer. It was meant to be used for office space, rent, infrastructure, related items.

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Original article is in Indonesian, translated by Kristin Siagian