11 Aug '17, 9am
Taiwan government to foster 30,000 startups in 3 years via direct investment
Taiwan government to foster 30,000 startups in 3 years via direct investment Bryan Chuang, Taipei; Willis Ke, DIGITIMES [Friday 11 August 2017] Taiwan's National Development Council (NDC) has decided to make direct investments in tech startups, instead of offering them subsidies as done in the past, aiming to build sound angel investment culture and foster as many as 30,000 new startups in the country within three years. Kung Ming-hsin, deputy minister of NDC, said the decision is designed to more effectively foster the development of startups, as criticisms are emerging that unicorn startup companies have yet to appear in Taiwan despite the government having injected substantial resources into nurturing tech and innovation startups for years. The National Development Fund, administered by the NDC, set up a startup fund of NT$1 billion (US$33 million) in early 2014 to subs...