Creative Economy Minister inaugurates IP appraisers to help HKI owners access KUR

Badung (ANTARA) - The Minister of Creative Economy (Ekraf), Teuku Riefky Harsya, has inaugurated intellectual property (KI) appraisers who will determine the price or value of works, allowing owners of Intellectual Property Rights (HKI) to access assistance through People’s Business Credit (KUR).

“We have inaugurated 64 KI appraisers or IP (Intellectual Property) appraisers, so whereas previously IP could not be used as collateral at banks, today this first stage enables IP as supporting collateral,” said the Creative Economy Minister during the 1,000 Creative Economy SMEs Contract event in Bali.

Teuku Riefky, in Badung Regency on Wednesday, stated that the presence of these 64 KI appraisers through collaboration between the Ministry of Ekraf and the Ministry of Law marks a historic milestone in Indonesia.

As observed, he continued, banks have previously struggled to determine the value of a work with an HKI certificate, but now professional appraisers of works are available to build bank confidence in the appropriate loan amounts.

The Creative Economy Minister is confident in this because the inaugurated KI appraisers are educated personnel.

“Who trained them? There are trainers from WIPO (World Intellectual Property Organization), an organisation under the UN,” he said.

Minister Teuku stated that the main challenge for creative economy actors currently is not just creativity, but also access to capital and intellectual property protection.

Therefore, it is important for creative economy actors to receive support, such as today when 1,000 creative economy SMEs gain access to bank financing, while in the creative economy sector there are many businesses and activities that also need to be reached by assistance.

According to the Creative Economy Minister, in addition to helping HKI owners develop their works, providing support so that HKI certificates can be used as supporting collateral in the KUR programme is also intended to encourage more people to patent their products or works.

Looking ahead, the government sees intellectual property as a major business, particularly pursued by the majority of Generation Z and millennials.

“This is when the government is present in promoting IP business, how local heroes go national and national to global,” he said.

The government itself has set a KUR disbursement target for this year of Rp295 trillion, with an allocation of Rp10 trillion specifically for financing creative economy SMEs based on HKI.