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Wida Reza Hardiyanti

Short story creative writing class.

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The pandemic has caused the slowdown of economic growth in Indonesia. Indonesian economy 2020 had growth contraction up to 2.07 percent (c-to-c) compared to 2019 (Berita Resmi Statistik BPS, 2020). In quartal I-2021 toward quartal I-2020 contracted 0.74 percent, however the growth in quartal I-2021 compared to quartal IV-2020 is -0.96 percent (y-o-y) (Berita Resmi Statistik BPS, 2021). It shows that pandemic hardly hit and affect the economy due to lower demand and purchasing power. One of the most affected business is startup in which 10-15 percent of startups failed during the pandemic 1 (Bisnis.com, 2021). One of the reasons is due to high reliance to the investor, however during pandemic many venture capitals tighten the investment to the startups or even close the business. Pandemic also create divide between startup which grow faster and slowing down or even close the business. The startup which grow faster is startup which work on edutech, health tech, marketplace/ecommerce, online entertainment (video on demand), and e-grocery. On the other hand, startup which slow down or close operate on the sectors of tourism and accommodation/lodging, ride hailing, and fintech. The startup which work on fast growing sector during pandemic such as edtech also face tight competition. Therefore, many startups in this sector will fail when the operational are inefficient, unscalable, failed to expand the market, and external funding reliant. The objective is explore the condition of startups during the pandemic as well as its survival mode, and the policies made by the government to overcome these conditions. The role of the government in helping startups survive amid a pandemic becomes essential. As is well known, the government assists conventional MSME players, but the suitable incentives given to start up players still needs to be studied further. Method used is descriptive supported by secondary data from survey, case studies, and literature studies (books, articles, and journals). The conclusion is government can support in terms of funding, promotion and networking, market control, and new normal protocols. In terms of funding, the government should target to support the improvement of the business climate. The government can also support startups to promote online. In terms of market control, the government is trying to improve price stability by implementing a stimulus program. Another thing that needs to be done is to make clear protocols in business operations so that there are clear rules of the game in its implementation. Keywords: government, incentive, pandemic, start up

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INDEF School of Political Economy or commonly abbreviated as ISPE is a political economy training program organized by INDEF with the aim of providing an understanding of basic economic concepts and methodologies for analyzing an economic phenomenon and understanding political-economy practices that occur in Indonesia. ISPE participants are final year undergraduate students, postgraduate students, and the general public. Currently, ISPE already has more than 200 alumni with various professions, such as lecturers, researchers, members of the Indonesian Parliament, public servant, journalists, private employees, and activists of non-profit organizations, and are scattered in various regions in Indonesia.

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