Premier Lai assures support for Taiwan's startups at Meet Taipei 2018

The government says it is actively striving to support new industries

President Tsai attended the 2016 Meet Taipei startup festival

President Tsai attended the 2016 Meet Taipei startup festival (Wikimedia Commons photo)

TAIPEI (Taiwan News) — Premier William Lai (賴清德) assured that the government is actively striving to support new startup businesses during a speech today at the 2018 Meet Taipei Startup Festival.

The Premier emphasized that the state will continue to extend its assistance to the startup industry in three key areas: funding, law and regulation, and talent procurement. He added that with this help, the Taiwanese start-up industry can become an international phenomenon, as well as a homegrown miracle.

Meet Taipei, which is running from Nov. 15 – 17, is celebrating its fifth anniversary this year. Attending this year are 104 international teams from 27 cities in 21 different countries, on top of another 346 local groups.

The theme is “Startup High 5ive” and features six major themed exhibition areas as well as an international startup exhibit zone. Participants from around the world have been welcomed to showcase their new innovations and witness the progressions made by Taiwan’s creative industries.

Lai said, during his speech, that the diversity of this year’s participants has brought a wealth of creative energy to the island. He expressed that Taiwan’s future economic development depends on new industries, and thus announced that the government is implementing a new plan of action to optimize the investment environment for them, as well as relaxing relevant restrictions.

He also noted that, so Taiwan’s startup industry has early-enough access to ample funding, the National Development Council has initiated a NT$1 billion “Industry Innovation Transformation Fund”. Taiwania Capital is also offering NT$100 billion to foster new ventures.

Lai noted that Taiwan placed 13th in the World Economic Forum’s Global Competitiveness Rankings this year, in league with many global superpowers. He said that the government has demonstrated it will continue to guide Taiwan’s new industries so the country can maintain its success in this regard.