Sufficient funds for startups

The National Development Council has approved investment start-up companies.

billion

Funded

The National Development Fund launched the NT$1 billion "Business Angel Investment Program" in 2018. In 2019, a number of refined measures were proposed and the fund was increased to NT$2 billion. The National Development Council has approved investment in 92 start-up companies, totaling nearly NT$3 billion.

Approved 78 startups to obtain the qualifications for angel investment.

Promoted tax incentives for angel investors based on the Statute for Industrial Innovation. Approved qualifications of startups in the information, optoelectronic, green energy materials and medical devices fields. Angel investors may have a personal tax deductible up to NT$3 million. The measure improved the investment environment for startups and facilitated investment and transformation in innovation industries.

Mobilize innovation talents

Issued Employment Gold Card Permits for foreign special professionals

Implemented the Act for the Recruitment and Employment of Foreign Professionals. Loosened regulatory restrictions on foreign professional talents coming to Taiwan and working and living in Taiwan. The measures included approving income tax incentives for foreigners working for the first time in Taiwan, applying for the Employment Gold Card Permit without an employer and other regulations, further making the job opportunities in Taiwan more friendly to foreign professionals.

Sent students in the startup community to Silicon Valley for training.

The Asia Silicon Valley Development Agency has collaborated with Draper University in Silicon Valley to organize the Hero Training since 2018 and sent 27 students to the US for training in order to develop Taiwan's talents and help the domestic start-ups to connect to the international venture capital market.

Established the Asia Silicon Academy and offered online courses

thousand

Attracted people to participate in online courses

Established the Asia Silicon Valley Academy and collaborated with Google, Microsoft and other global firms to offer a total of more than 250 online courses covering AIoT, innovation and entrepreneurship, big data and other diverse topics. Professional certification exams are given to help develop talents in the IoT field.

Improve regulatory environment

Helped clarify startup regulatory issues

Established a startup regulation adaptation platform to facilitate the interpretation and adaptation of laws for startup companies' business models through a single point of contact. The cross-functional communication platform helped business operators and the authority communicate and coordinate to reduce the cost of regulatory compliance for startup companies.

Proposed 10 favorable measures to the development of startups

Amended the Company Act, and the amendments included the issuance of non-denomination shares, multiple voting shares, convertible corporate bonds and other favorable measures to the development of startups. They loosened the restrictions on fundraising, offered operating flexibility, created a good startup investment environment and encouraged the development of startups.

Approved innovation regulations

Approved FinTech innovation cases

Introduced the supervisory sandbox measures. Approved the Financial Technology Development and Innovative Experimentation Act and the Unmanned Vehicles Technology Innovative Experimentation Act to facilitate the growth of industry technologies and service applications, create more possibilities of innovative practices and accelerate industry progression.

Connect to international markets

Led startups to participate in international exhibitions

Guided startups to participate in exhibitions in the US, Spain, Thailand and Singapore to explore business opportunities. There were Consumer Electronics Show (CES) in the US and others. In 2020, 82 startups won 13 innovation awards to secure a total of more than NT$7 billion in business opportunities, totaling more than NT$15.5 billion over three years.

Establish startup clusters

Established international-level startup clusters

Promoted the establishment of Taiwan Tech Arena (TTA) and attracted the residency of 6 startup organizations and 272 startup companies at home and abroad. Startup Terrace in Linkou also has 150 domestic and foreign startup companies and accelerators taking the residency there. The Fintech Space attracted 44 startup companies, either domestic or foreign, to take the residency program.

Promoted the establishment of startup bases

Introduced accelerators to take the residency program

Promoted the establishment of incubators

Promoted the establishment of startup bases and incubators throughout Taiwan and helped domestic and foreign accelerators to take the residency. Connected resources available to startups and cultivated talents. Enhanced momentum of local incubators and helped startups to participate in international exhibitions. Provided a friendlier entrepreneurship environment to startups and obtained more diverse assistance.