A new park for incubating start-ups is to be opened in Tainan next year to connect local start-ups and incubators to the global market, the National Development Council (NDC) said yesterday at a Cabinet meeting.
Government agencies will allocate NT$10 billion (US$338.95 million) over the next four years to promote start-ups: NT$5.4 billion from the Ministry of Science and Technology (MOST), NT$2.7 billion from the Ministry of Economic Affairs, NT$1.5 billion from the council and NT$400 million from the Ministry of Education, council officials said, as they presented a report on promoting innovation and entrepreneurship.
The new park for incubating start-ups in Salun (沙崙) area is open in June next year, it said.
It will be connected with other incubators, such as MOST’s Taiwan Tech Arena (TTA) at the Taipei Arena and the Start-up Terrace in New Taipei City’s Linkou District (林口), to help local start-ups access the global market, it added.
Taiwan has nearly 4,000 tech start-ups in different clusters across the nation, including 312 at the TTA, council data showed.
Premier Su Tseng-chang (蘇貞昌) has instructed local and central governments to step up collaborative efforts to foster the next iconic industries that would guide Taiwan’s development, just as the Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) has over the past 33 years, Executive Yuan spokesman Ting Yi-ming (丁怡銘) told a news conference.
Ting quoted Su as saying at the meeting that he had visited a company in Sijhih District (汐止), New Taipei City, on Tuesday that develops smart glasses utilizing augmented-reality (AR) technology, which can be used in disaster relief, distance learning, distance medicine and help with COVID-19 prevention.
Using TSMC as an example of government investment, Su said the company began as a start-up and has emerged as one of the top 10 companies in the world.
Taiwan’s strength in fostering the development of innovative businesses comes from a fully established supply chain, a pool of talented information-technology professionals, legal protection for intellectual property and information security, and a world-renowned open data archive, Ting quoted Su as saying.
The government understands that innovative industries need funding and it is offering NT$10 billion in angel investments and NT$60 billion in youth innovative start-ups, Su said.
More incentives and policies to encourage corporate investment and collaboration with innovative start-ups should be mulled, he said.
Corporate collaboration with innovative industries is common and many innovative industries have received investment, or accepted buy-outs, from larger corporate entities, allowing said entities to benefit from internal transitions or upgrades, Su said.
The government should take the lead in purchasing innovative products and use their technology to increase government efficiency, Ting quoted the premier as saying.
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