Building Startup Island Taiwan, President Tsai attends the “NEXT BIG” event and vows to fast-track startup development in Taiwan

According to the TAIWAN TODAY, President Tsai Ing-wen attended the “NEXT BIG” presentation of "Startup Island TAIWAN" on October 19. She said that the government is leaving no stone unturned in fostering Taiwan’s startup ecosystem to ensure the country continues surging ahead as an island of innovation.

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Tsai Ing-wen encourages 9 selected new entrepreneurs. (Photo / Provided by Press Release of the Presidential Palace)

The government is committed to exploring more opportunities for Taiwan’s startups through integrating resources and promoting cutting-edge R&D, Tsai said. At the same time, efforts are being directed toward improving the country’s business environment and regulations to attract top-notch entrepreneurs and professionals to Taiwan, as well as connecting local firms with counterparts around the world, she added. Nine startups were chosen as the representatives, including Gogoro, KKday, Pinkoi, 17 LIVE, CoolBitX, Greenvines, iKala, KDAN MOBILE, SaaS and 91APP.

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The government continues to provide more international resources for domestic new industries. (Photo / Provided by Press Release of the Presidential Palace)

Tsai made the remarks during the Next Big Award ceremony in Taipei City. Organized by the National Development Council, the inaugural award went to nine firms expected to take Taiwan’s startup scene to the next level on the back of business impact and market potential.

TAIWAN TODAY says, according to Tsai, Taiwan’s innovative capabilities are widely recognized by the global community. This is as evidenced by the country’s inclusion as one of four super innovators by World Economic Forum in its 2018 and 2019 Global Competitiveness Report.

In the latest World Digital Competitiveness Ranking published by Switzerland-based International Institute for Management Development, Taiwan moved up to eighth overall, thanks in part to its world-leading total R&D personnel per capita, Tsai added.

TAIWAN TODAY mentions, under the Business Angel Investment Program sponsored by the National Development Fund, Tsai said, more than 155 startups received NT$2.25 billion (US$80.54 million) in financial backing to date, with more support in the pipeline.

Tsai also congratulated the nine award winning firms for exceptional achievements in key sectors spanning artificial intelligence, block chain, digital commerce and green energy. These startups will serve as role models for Taiwan’s aspiring entrepreneurs in the years to come, she said. (SFC-E)