Taipei offers NT$1 million entrepreneurship grant

In order to encourage entrepreneurship, Taipei City Government’s Department of Economic Development stated, investors can apply for an entrepreneurship grant from the Department of Economic Development within one year of registering a new investment. The amount of the grant will be no more than 50% of the total cost of the project up to NT$1 million.

The Department of Economic Development pointed out, the “business plan” proposed by investors must be based on technological or service innovation and possess development potential, an operating model, and key performance indicators (KPI). After the business plan is approved, the grant will be disbursed in installments. In addition to performing an audit during the implementation of the business plan to confirm operating status, the Department of Economic Development will conduct a concluding review based on KPI listed in the business plan. The last installment of the grant will not be disbursed until this review is passed.

In order to promote industrial development, the Taipei City Government implemented the “Taipei City autonomous industrial development ordinance” to provide subsidies for vocational training, salaries, taxes, rent, financing interest, and various incentives such as preferential rental rates on city-owned property and R & D grants.

A total of 439 applications have been received, reviewed, and approved between 2011 and June of this year. A total of NT$413.27 billion in subsidies have been awarded, driving NT$12.4 billion in innovation investment, addition output value of NT$67.1 billion, and 2,878 new job opportunities with an approval and implementation rate of over 90%.

Furthermore, in order to encourage industrial R & D and added brand value and promote industrial innovation clusters, the ordinance was amended on June 10 of this year. In addition to increasing R & D subsidies, brand establishment, innovation incubation, and entrepreneurial subsidies were added. Supporting measures are currently being finalized with application acceptance expected to begin in October 2014.

Updated : 2021-04-19 10:51 GMT+08:00