Strategies to Upgrade Taiwan’s Startup Ecosystem under Asia-Silicon Valley Development Plan 2.0

Upgrading Taiwan’s startup and entrepreneurship ecosystem was one of the two objectives of the Asia Silicon Valley Development Plan 1.0. Since the Plan was launched four years ago, considerable results have been achieved thus far. 
103 companies invested by the Business Angel Investment Program, for example, have attracted a number of investments amounting to NT$3.28 billion. 143 Taiwan startups have been assisted through a Government’s stimulus package with investment amount up to NT$2.44 billion to navigate beyond the crisis of COVID-19. 872 Employment Gold Cards have been issued, a 250% increase compared to the same period last year. As for laws and regulations, 10 startup-related articles of the Company Act have been amended. 13 projects have passed the test of the regulatory sandbox experimentation, and 32 cases have been discussed and clarified through the mechanism of the Startup Regulatory Adjustment Platform. 
Based on the Asia Silicon Valley Development Plan 1.0, NDC has formulated the Plan 2.0 by collecting opinions and suggestions from nearly 100 startups, and studied global industrial trends and development measures since December 2019. The plan adopts a number of important strategies including providing assistance with startup exits (e.g. IPO on stock/OTC market or M&A), facilitating corporate investments in startups (CVC), and expanding into global markets. NDC has also worked out 33 implementation measures in the hope that four major goals will be achieved. These goals are namely assisting 200 startups to successfully raise funds amounting to US$2M, facilitating cooperation between startups and 100 international corporations, completing 40 startup M&A or IPO cases, and fostering two more unicorns.  
In the next four years, National Development Council (NDC), Ministry of Economic Affairs (MOEA), Ministry of Science and Technology (MOST), as well as some other ministries, will allocate their budget up to NT$10 billion to upgrade Taiwan’s startup & entrepreneurship ecosystem, and fostering more top startups that would spur Taiwan’s economic growth.
  • Related File(s)
    1. Strategies to Upgrade Taiwan’s Startup Ecosystem(Sep., 2020)
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