TAIPEI (Taiwan News) – Microsoft in partnership with Taiwan’s Ministry of Economic Affairs launched the “Microsoft Startup Accelerator” in Taipei on Nov. 19, hoping to support 40 Taiwanese startups over the next three years, reported CNA.
The startup accelerator will focus on artificial intelligence (AI), will begin by partnering with 10-15 firms, and will support them entering into international markets.
Recent years have seen Microsoft invest heavily in developing Taiwanese tech talent. Some of these efforts include the establishment of IoT and AI research and development centers in 2016 and 2018 respectively.
Microsoft said that startups interested in the accelerator must demonstrate a strong base of entrepreneurship that targets both Taiwanese and international consumers, adding that the U.S. tech giant can only provide technical assistance. This technical assistance may take the guise of mentoring, financial consulting, or legal assistance.
Microsoft indicated that new companies face a host of problems which are best solved by experience, and in this respect Microsoft can help.
Microsoft went on to say that entrepreneurship does not mean that a company needs to leave Taiwan, and there is scope for new companies to help Taiwan’s traditionally industries improve.