Indonesia selects 23 SMEs for government-backed IPO program

Jakarta (ANTARA) - Indonesia has selected 23 small and medium-sized enterprises (SMEs) for further mentoring to prepare them for initial public offerings (IPOs) under a government-backed program.

Deputy for Medium Enterprises at the MSME Ministry Bagus Rachman said on Monday that the companies were selected from applicants participating in the RISE To IPO program, which launched on July 9, 2025, and reached 281 companies across five major cities.

"This is the number of companies that made it through the selection process. More than 100 companies applied. We conducted the selection through RISE To IPO via SAPA UMKM," Rachman said in Jakarta.

He said the follow-up mentoring program was designed to strengthen companies' internal readiness in corporate governance, business strategy, and capital market preparations.

Intensive mentoring for companies participating in the 2026 cohort is scheduled to begin in early 2027.

The Ministry of Micro, Small and Medium Enterprises and the Indonesia Stock Exchange (IDX) also launched the Go Public Academy for SMEs to provide structured guidance to companies targeting the capital market.

The program is expected to produce IPO-ready companies while improving business management, operational transparency, and corporate competitiveness.

In the long term, the initiative aims to support Indonesia's target of developing 10,000 public-ready companies by 2045.

The MSME Ministry and IDX have called on stakeholders, including government agencies, universities, business associations, financial professionals, and investors, to support the Go Public Academy for SMEs.

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Translator: Shofi Ayudiana, Kuntum Khaira
Editor: Arie Novarina
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