For startups, the most critical factor determining their survival rests with whether their innovative products and services can pass market validations and if their business models are feasible or not, according to Vincent Tseng, CEO of the National Taiwan University Taidah Entrepreneurship Center (NTUTEC).
Tseng said startups have to fast correct their business models if proved not feasible. He stressed that existing enterprises are experts in various business domains, and their validation platforms will give startups a better chance to survive.
Since January 2019, NTUTEC has carried out a "vertical accelerator" project by collaborating with a spate of medium- and large-size enterprises including AU Optronics (AUO), E. Sun Bank, FarEastone, Team Creative and iSurvey to provide platforms for validating products and services developed by startups, helping them commercialize their offerings.
Under the project, each participating startup can receive six-month instructions from collaborating enterprises on feasible business models and customer requirements in the validation process.