Jumping on the bandwagon of forward thinking IP plans, the Indonesian Creative Economy Agency is trying to set up a financing system for IP. The aim is to enable banks to use IP as collateral for loans in the creative industries (focused on copyright especially). Their attempts so far has stumbled at the point of valuation, there being a lack of IP valuers in Indonesia, and a lack of databases of rights.
The latter shouldn't be a problem for of course as there is a copyright office database which could be used. Malaysian bank Maybank has expressed interest in the system. The challenge is not the more traditional creative business sectors like F&B and crafts, but musicians and graphic artists. The Agency is working with the Indonesian Society of Appraisers on the valuation and royalty calculation side. Indonesia believes its overall creative sector is worth USD73 billion nationally.