NextICorn (Next Indonesian Unicorns) is a platform for local startups looking for global investments, founded jointly by the government, the Venture Capital Association for Indonesian Startups (Amvesindo), and consulting firm Ernst & Young.
The event involves at least 132 Indonesian startups and up to 150 investors being invited to discuss possible investments.
Online application has been set up to allow investors and the startups to arrange meetings on their own, and it may even be kept running after the event so they can continue their interactions.
The previous summits were hosted by the Communication and Information Technology Ministry and Indonesia's major startups such as ride-hailing company Gojek and e-commerce platform Tokopedia.
"This is the first time the summit is held in Bali; we chose it for its more relaxed setting. We will focus on matchmaking [between startups and investors] and bilateral meetings this year, unlike in previous events which were mainly filled with seminars and conferences," NextICorn chairman Daniel Tumiwa said in a statement.