Govt to roll out Rp4.13 trillion Merah Putih Fund for startup companies 

As reported by CNN Indonesia, Deputy Minister of State-Owned Enterprises (BUMN) Kartika Wirjoatmodjo announced that the government will provide Rp4.13 trillion for the Merah Putih Fund to fund Indonesian startups. The funding will be disbursed in the second quarter of 2022.

The move is aimed at ensuring that soonicorn or startups that will soon become unicorns will remain in Indonesia and “[to show that] we will support them," said Kartika on 9 February. There are several prerequisites that startup companies should keep in mind before receiving the funds.

First, the founder should be an Indonesian citizen. Second, the company should be located in and operate in Indonesia. Third, the company should have a plan to be listed on the Indonesian stock exchange.

Meta releases personal boundary feature as response to harassment issues in metaverse

To curb sexual harassment in the metaverse as well as to ensure users’ safety, Facebook’s parent company Meta recently launched its personal boundary feature, Reuters reported. 

With the tool, users will feel like they have nearly 1.2 metres distance between their virtual avatar and others when they access the Meta VR platforms, such as HorizonWorlds and Horizon Venues applications, through VR headsets.

The change comes as users of these VR platforms have raised issues about virtual groping, unwanted interactions and other abusive behaviour. 

Google for Startups to host Startup Academy programme in Indonesia

Google announced that it will host a Startup Academy online bootcamp in Indonesia. In an official statement released on 13 February, the company said the programme is designed to accelerate the growth of Indonesian startups in the fields of fintech, edtech, retail, logistics, agriculture and health.

The programme will be held in English and Indonesian, and is open to all startups located in Indonesia. In the programme, participants will receive technical project guidance and support through workshops, plenary sessions which focus on product and business development, as well as leadership sessions for founders.

Selected participants will also have the opportunity to access Google's network of partners and investors as well as industry experts and mentors. Registration for the programme was open from 7 to 27 February 2022. Participants will be announced on 21 March 2022. The bootcamp will be held intensively for five days on 4-8 April 2022. 

Snapchat to put ads between stories and share the money with creators

According to The Verge, Snapchat has introduced a new way for creators to earn money on the application, ie. by placing ads within a Snap Star’s Story. Revenues from the ads will be shared with the creators. 

The revenue share is based on a formula that takes into account metrics like posting frequency and engagement. The feature is only available to Snap Stars - creators or public figures with large followings who have been verified on Snapchat.