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The Asia Silicon Valley Development Plan Print
In order to connect Taiwan to global tech clusters and create new industries for the next generation, Taiwan Government launched the Asia Silicon Valley Development Plan in September 2016.
The plan has two primary objectives: firstly, promoting innovation and R&D for devices and applications of the internet of things (IoT), and secondly, upgrading Taiwan’s startup and entrepreneurship ecosystem. The Plan will also forge three links (local, global and future) through the following four strategies. Hopefully the Plan will transform Taiwan’s industrial structure with the IoT, and drive economic growth with innovation and entrepreneurship.
The four implementation strategies are as follows:
1. Optimize Taiwan’s startup and entrepreneurship ecosystem by increasing talent supply, providing business expansion capital, and adjusting laws and regulations.
2. Enhance linkages with renowned clusters worldwide by forging connections with the R&D capabilities of Silicon Valley and other global innovation clusters.  In the meantime, actively participate in international standards formulation and certification of IoT-related technologies.
3.  Build a complete IoT supply chain by Integrating Taiwan’s hardware advantages into software applications. It would also encourage to commercialize research findings of universities and research institutes.
4. Construct diversified test beds for smart products and services by establishing a quality internet environment, build diversified smart test beds, and develop applications based on smart logistics, smart transport and smart healthcare.
With combined impacts of the Asia Silicon Valley plan and other digital economy plans, Taiwan’s IoT global market share is projected to grow from 3.8 percent in 2015, to 4.2 percent in 2020, and to 5 percent in 2025. The plan is also aiming to grow 100 successful companies—either local startups enjoying successful exits or R&D centers set up by large corporations. Other objectives include establishing three global system integrators in Taiwan, attracting investments from two world-class international corporations, and creating an online learning platform for IoT related sectors.