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CREATIVE INDUSTRY: Bekraf Launches ERL

JAKARTA – Creative Economy Agency (Bekraf) launched Ekraf Investment Readiness Level (ERL) for fashion subsector, craft, game developer and application, and culinary. ERL is a benchmark used to measure innovation readiness in all four subsectors while anticipating innovation, technology life cycle, and market competition.

“Only four of these sectors have benchmarks, while other sub-sectors such as movies and music have not. These two sectors require a deeper assessment because they have very different economic cycles compared to those four sectors [fashion, culinary, craft, app and game developers], “said Hanifah, Public Relations Sub Directorate of Non Banking Access Deputy Access to Capital Bekraf, Monday / 12/2017).

In this case, Bekraf hopes ERL can be a reference for investors to invest their capital into creative business actors. ERL is also a valuing event for creative business so that business actors can measure their readiness in receiving investment.

In recent years, Bekraf has noted a number of non-banking institutions such as angel investors, philanthropic investors, and venture capital began to aggressively approach the pioneering business.

“The most aggressive looks are venture capital and philanthropic investors. ERL is expected to be a picture for investors who want to invest in the creative economy. So they can assess the economic scale of the creative business through reference to the ERL, “said Hanifah.

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