TAIPEI (Taiwan News) – Premier Cho Jung-tai (卓榮泰) spoke at a ceremony on Monday commemorating the 10th anniversary of InnoVEX, held in parallel with the larger Computex, targeting startups and software-based businesses.
Cho said the world’s attention is currently on Taiwan with the two exhibitions. "Important manufacturers and R&D teams are all gathered here, representing Taiwan's decades of growth and accumulated strength,” per CNA.
According to Cho, many of InnoVEX’s exhibitors are young entrepreneurs. He said that this was evidence of the vitality of Taiwan’s start-up environment. “This is our future,” said Cho.
Cho said this year's exhibition has 450 startups from 24 countries, and the scale of the exhibition has grown by 12.5% compared to last year. According to Cho, Taiwan will never be absent when it comes to technology development.
He referred to a Global Entrepreneurship Monitor report released last year, which ranked Taiwan's entrepreneurial environment third in the world and first in Asia. Taiwan was praised for its physical infrastructure, commercial and service infrastructure, and government administrative efficiency, all of which ranked among the best in Asia.
According to Cho, the number of newly started companies also grew from 2,641 in 2016 to 9,576 in 2024, a 3.6-fold increase.
He said that not only has the number of companies grown, but a large number of R&D talents have also been cultivated in the country. This is important, as he believes that even more talent will be needed to lead Taiwan from hardware manufacturing to software R&D and physical applications.
Cho said the government will increase its efforts to assist startups and related IT industries. For example, on May 7, President Lai Ching-te (賴清德) announced that AI and net-zero transformation will be eligible for future tax deductions and incentives. The measures are meant to encourage more people to enter these industries.
He said that during the current global supply chain realignment, especially Trump’s tariffs, AI will continue to develop, and net-zero transformation goals will continue. He said Taiwan is in a central position in these areas, though it faces many challenges.
According to Cho, Taiwan also has several opportunities, such as the infrastructure and ambition to lead a China-free industrial supply chain of the future. He said alliances are being formed to make the best use of the nation's industrial and innovative technologies.
In response to challenges imposed by Trump’s tariffs, the government has proposed a bill to strengthen the resilience of firms with funding of NT$410 billion (US$13.6 billion), which includes support for industries, employment, and people's livelihoods. The bill is currently awaiting passage by the legislature.
Taipei Computer Association Chair Peng Shuang-lang (彭双浪) later said InnoVEX was founded in 2016 when competition among startups was becoming increasingly fierce. He said the inaugural event was held at the Taipei World Trade Center, bringing together more than 200 companies. And now that the exhibition is celebrating its 10th anniversary, he is happy it has grown to 450 companies, including the “Nvidia Inception” pavilion, which includes 16 entrepreneurs.
