Four startup business accelerators, BE Accelerator, Center of Industry Accelerator and Patent Strategy (IAPS), SOSV-MOX, and ParkLabs Taipei, will be stationed at Taiwan Tech Arena (TTA) in Taipei, according to the Ministry of Science and Technology (MOST).
The MOST-established TTA, through integrating Taiwan's resources in boosting startups and establishing linkage with international accelerators, aims to broaden local startups' global reach and promote international exchange and cooperation in a bid to hike its competitiveness in international startup ecosystem, MOST minister Chen Liang-gee indicated.
BE Accelerator focuses on incubation in areas of medical care and biotechnology and has cooperated with large hospitals and clinics around the world to tap the Taiwan and Southeast Asia markets.
Since establishment in 2013, IAPS has accelerated more than 500 startup businesses and raised venture capital of nearly US$30 million every year. Through TTA, IAPS will help link startups to the France, Japan and Southeast Asia markets.
SOSV-MOX is sponsored by Silicon Valley-based venture capital firm SOSV which manages global venture capital of US$400 million and has set up seven accelerators in seven cities around the world including the one at TTA. SOSV-MOX's incubation focuses on development of mobile apps, platforms and services to help startups tap emerging smartphone markets.
Originating from Silicon Valley, SparkLabs Taipei focuses incubation on IoT (Internet of Things), AI (artificial intelligence) and machine learning, blockchain, digital medical care and agricultural technology. For a selected startup business, SparkLabs Taipei makes investment of US$40,000 for a stake of up to 6%.
A total of 52 startups (29 from Taiwan and 23 from other countries) will be stationed at TTA by the end of September 2018 and MOST hopes that the number can increase to 100 by the end of the year. Accelerators will provide business startup courses, counseling services, introduction of venture capital investment for qualified startups.