Taiwan government to fund 30,000 tech start-ups in three years
- Author:Ella Cai
- Release on:2017-08-14
Taiwan aims to create 30,000 tech start-ups in the next three years, reports Digitimes.
Taiwan’s Industrial Innovation and Transformation Fund has earmarked $3.3 billion for startups and a national investment company with a fund of $330 million opens its doors this month to high tech entrepreneurs wanting investment.
The intention is to make direct investments in tech start-ups as opposed to the previous policy which had been to give start-ups subsidies.
The new policy is in response to criticisms of the old policy.
It is pointed out that Taiwan has had no unicorns despite having had a National Development Fund since 2014 with $33 million to spend on start-ups.
80% of that has been spent on 270 start-ups. When the remaining 20% is spent, another $33 million will be put into the fund.
US VCs have invested $430 million in Taiwan start-ups and the Taiwan Silicon Valley Fund has invested $231 million.
Taiwan’s Industrial Innovation and Transformation Fund has earmarked $3.3 billion for startups and a national investment company with a fund of $330 million opens its doors this month to high tech entrepreneurs wanting investment.
The intention is to make direct investments in tech start-ups as opposed to the previous policy which had been to give start-ups subsidies.
The new policy is in response to criticisms of the old policy.
It is pointed out that Taiwan has had no unicorns despite having had a National Development Fund since 2014 with $33 million to spend on start-ups.
80% of that has been spent on 270 start-ups. When the remaining 20% is spent, another $33 million will be put into the fund.
US VCs have invested $430 million in Taiwan start-ups and the Taiwan Silicon Valley Fund has invested $231 million.
