TAIPEI (Taiwan News) -- The Taipei City Government in cooperation with the Hongwell Group (宏匯集團) held a dedication ceremony for of a new innovation lab and incubator for start-up companies in the Neihu Technology Park on Tuesday, April 23.
The facility has been named “t.Hub" is the result of plans that were first drafted in 2014, and an investment of NT$4.8 billion (US$155.5 million).
Over the course of Hongwell’s 50 year contract to the property, the t.Hub start-up space and innovation lab is anticipated to provide a total of NT$91.83 billion (US$294.9 million) in revenue for the city while providing at least 3,000 jobs each year.
The t.Hub is reportedly the first “build-order-transfer” (BOT) facility in Taiwan with the aim of promoting industrial development by nurturing innovation through start-up projects.
Taipei Mayor Ko Wen-je (柯文哲) and Chairman Hsu Kun-tai (許崑泰) of the Hongwell group both attended the opening ceremony in Neihu on Tuesday.
The t.Hub facility is expected to be fully operational in 2020 and is currently recruiting research and development teams from Taiwan and abroad, reports UDN.