Session 5C: Digital technologies, tech start up and venture capital [all presentations will be virtual] (Auditorium 3)
Moderator: Aimee Hampel
Developing city-level ecosystems and talent for startups in Indonesia
Paul Vandenberg and Palmira Permata Bachtiar
City-level ecosystems are best positioned to foster tech startups, especially in their early stages. At the local level, startups can benefit from the support provided by local incubators and accelerators, funding sources, nearby research universities, local governments, and other supporting organizations. Recruiting quality talent is key for startups because of the “money-follows-talent” principle. Talent is needed both to create new technologies and business models and to implement those models for success in the marketplace. Talent can be nurtured via three channels: (i) through incubators and accelerators; (ii) through the education system, notably universities; and (iii) within startups.
JEL Code/s: I23 J24 M13
The important role of tech-startup ecosystems to ADB’s digital development priorities
Thomas Abell
The presentation will focus on the importance of tech startups to ADB’s digital development strategy. What enables and what stands in the way of tech startup success? It will include ecosystem assessments, leveraging global insights, understanding local context, identifying opportunities. It will also ask what would ADB’s integrated approach to unlocking digital economy growth through startup ecosystem support look like and identify and pursue opportunities for DMC Governments to support DMC startup ecosystems (infrastructure investments, demonstration projects, knowledge and technical assistance, policy advice, capacity development). Finally, the presentation will conclude with insights gained via the new ADB Ventures facility and expanding its reach and impact.
JEL Code/s: H42 M13 O18
Fostering development of local tech-startups in Azerbaijan
Sabina Jafarova
Tech start-ups are very important for emerging economies like Azerbaijan. They can become one of the driving forces of economic growth. But a strong ecosystem is critical for turning new ideas into commercially viable businesses: access to funding, talented human capital, digital infrastructure, supportive government policies. In Azerbaijan, which is a relative newcomer in tech start-ups industry, there is a notable gap between urban and rural areas in the quality of tech start-ups support ecosystem. One of the options to close this gap is to build the capacity of local educational institutions to promote business start-ups through investments in infrastructure, R&D, access to funding.
JEL Code/s: I25 J24 M13