| Background |
| The Asia Silicon Valley Development Plan has been investing in the artificial intelligence of things (AIoT) for the past seven years and has produced plentiful and concrete achievements. For example, the output value of the internet of things (IoT) in Taiwan surpassed NT$2 trillion (US$67.2 billion) in 2022, and has led the information and communications technology industry to gradually shift from hardware manufacturing toward system application services integrating software and hardware. The plan has also driven vigorous development within Taiwan's tech startup ecosystem, nurturing more than 7,400 domestic startups, including four Taiwanese unicorns (a startup company valued at more than US$1 billion), and significantly increased the amount of funding raised by startups from US$840 million in 2015 to US$2.22 billion in 2023—feats that are worthy of recognition. |
| In view of the recent challenges faced by the industry in digital and net-zero transformation, and the continuous advancement of technologies such as AI and the Internet of Things, the government has further proposed the "Asia Silicon Valley Development Plan 3.0" (ASVDP 3.0) on the existing basis, which will focus on the development of 5G private networks and AI miniaturization technology. Through groundbreaking approaches, the government will also encourage private capital investment to achieve the goals of providing tax incentives to promote new venture capital raising and doubling the market share. |
| Vision and Pillars |
| 1. |
Vision |
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To promote Taiwan as a global innovation hub for strengthening resilient development, Asia. The ASVDP 3.0 will take "a model of innovative industry and smart and resilient society" as its vision and goal, accelerate the global digital and net-zero transformation, and work with international partners to develop together and spread the benefits of industrial innovation. |
| 2. |
Policy Pillars |
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(1) |
Exporting Intelligent AIoT Solutions |
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Generative AI has become the most concerned topic worldwide in 2023, and related smart applications are rapidly penetrating into various industries. This plan will build on past achievements in the development of smart IoT, deepen the integration with emerging AI applications, and link the localized energy of 5G to expand smart solutions to multiple fields. At the same time, it will strengthen docking with overseas market demand and spread Taiwan's smart IoT solutions to the world and build Taiwan into a trustworthy international partner. |
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(2) |
Investment in new ventures doubled |
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Taiwan's economic growth has entered an innovation-driven stage. In the future, it will drive industrial innovation and transformation by expanding investment in startups. The government will strengthen efforts to encourage the financial and insurance industry, venture capital, enterprises and other private sectors to invest in the startups ecosystem, optimize the overall startups environment, and establish hubs in key overseas markets to accelerate international cooperation and layout, and assist startups to enter the global market. |