Action Plan for Enhancing Taiwan’s Startup Ecosystem

It is imperative for Taiwan to constantly upgrade its startup ecosystem if it is to thrive in the digital economy era and transform successfully into an innovation-driven economy. 
To this end, National Development Council has consulted local startup communities and discussed with various Government agencies so as to formulate the Action Plan for Enhancing Taiwan’s Startup Ecosystem. The Plan was presented for further discussion in inter-ministerial meetings, and was approved by the Executive Yuan on February 22, 2018. 
The Action Plan comprises five strategies and 40 measures which will be jointly promoted by 13 Government agencies. By pushing ahead this Action Plan, the Government would create a robust startup ecosystem in Taiwan, raising Taiwan’s visibility internationally, and making Taiwan an Asia’s startup nation.
1. Providing ample early-stage funding for startups
  Putting in place tax incentives for angel investors, and cooperating with globally renowned venture capital firms to strengthen investment in forward-looking industries such as AI, IoT, AR/VR, and biomedical industry
2. Developing talent and adjusting regulations
  Enacting the Act for the Recruitment and Employment of Foreign Professionals, encouraging students to intern at startups, and clarifying the gray areas of laws to new types of business through the Startup Regulatory Adjustment Platform
3. Building partnership between startups and the Government
  Encouraging Government’s procurement from startups, opening Government data to encourage startups to participate in public affairs, encouraging corporate-startup engagement through Government programs etc.
4. Providing startups with various exit channels
  Providing diversified market listing qualifications for startups not yet profitable to access capital market
5. Helping startups tap into global markets
  Sending selected startups to overseas accelerators and major international trade shows, and providing soft-landing consultation and matchmaking services
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