National Development Council

1.Objective
Through this Program, the National Development Fund (hereafter referred to as “the NDF”) aims to establish a sound startup investment mechanism to improve the angel investment environment in Taiwan; NDF, angel investors, domestic and foreign investment institutions will co-invest in startups and also provide startups with initial and subsequent operating capital; the investment experience of angel investors and investment institutions will also be used to provide the invested businesses with follow up guidance and advice and network linkages. The main objective of this Program is to support relatively high-risk startups, rather than having financial profit as the sole consideration.

2.Program budget
The NDF will allocate NT$2 billion for handling this Program

3.Investment subjects
The NDF and angel investors will co-invest in startups registered in Taiwan or overseas startups with main business operations in Taiwan. The startups referred to in this Program are enterprises that have been established for less than three years and have paid-in-capital or actual amount of fundraising of no more than NT$80 million. However, this restriction can be removed upon agreement of investment review committee.

4.Application eligibility
Under this Program, angel investors or startups will submit an application; startups that receive angel investor investment will be considered by THE NDF for investment on a priority basis.Angel investors referred to in this Program must be able to provide at least one mentor to guide the invested company, such as the following institutions, organizations or their members.(1)    Angel investment fund
(2)    Venture capital enterprise
(3)    Angel investment organization
(4)    Angel investment club
(5)    Accelerator or incubator