The G20 Digital Innovative Network (DIN) event will provide space for digital innovations from start-ups that present real solutions for global recovery, especially after the pandemic, Communication and Information Minister Johnny G. Plate said.
"This event is expected to increase the importance of digital innovation for global recovery, especially after the COVID-19 pandemic," Plate remarked while opening the G20 side event in Nusa Dua, Bali, on Saturday.
The DIN is a forum for G20 countries for sharing knowledge, encouraging discussions, and for building partnerships among global innovation players.
The minister said he hopes that the forum, which is being held as part of the Digital Economy Working Group (DEWG) during Indonesia's G20 Presidency this year, will promote economic recovery through digital ecosystem collaboration at the global level.
"Let us continue to strengthen the system, synergize, realize, and encourage global sustainability through digital transformation," he added.
The great potential of the digital economy has come from innovations based on technological advances, he noted.
According to data from the World Bank, in 2022, the digital economy accounted for 15.5 percent of the global gross domestic product (GDP), growing 2.5 times faster than the global GDP in the past 15 years.
Furthermore, it is predicted that by 2030, up to 70 percent of businesses will be digital-based.The figure is expected to increase the capacity of the global economy.
Plate said that in the midst of the pandemic, digital innovation has played an important role in helping many countries survive amid activity restrictions, especially by supporting start-up companies and micro, small, and medium enterprises (MSMEs).
Therefore, Indonesia, as the leader of the G20 DEWG, aims to provide a special space for start-ups from various regions, especially G20 countries, to share experiences, and ideas, and provide knowledge and enlightenment to bring new innovations and answers to future global challenges after the pandemic.
By presenting the G20 DIN, Indonesia is providing a space for start-ups to share their thoughts and innovations and expand their business.
"In the next two sessions, I believe that the G20 DIN will facilitate meetings and discussions to create collaboration on digital innovation. We believe that this event will become an important catalyst for digital economic growth by enriching collaboration between venture capitalists, and companies, both on the domestic and international scale," the minister stated.
Saturday’s event was attended by more than 400 participants from 42 venture capitalist firms, 55 start-ups, and policy makers in the digital and corporate sectors.
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