Ch.8- Entrepreneurial resources for foreign entrepreneurs

Previous Chapter: Ch.7- Investors for startup business

In the last chapter, we’ve learned about the financial resources that international entrepreneurs can use at all stages. Now, we would like to inform all the international entrepreneurs that the government of Taiwan has always paid great attention to the development of startup companies. Perhaps when the foreign entrepreneurs first arrived, they may be confused and helpless by the unfamiliar language, the cultural environment and the government department. However, as long the foreign entrepreneurs really grasp the important resources in various government departments, the team may have the opportunity to stand out. It is worth noticing that plans and subsidies may be cancelled or adjusted due to policy changes or budget reduction, but the major structure of government authorities will not change much in principle.

Government departments in relation to entrepreneurial resources

  1. Ministry of Education:
    If you are an international student in Taiwan with creative business ideas, you may join the “entrepreneurial business plan” conducted by the Ministry of Education; based on the “campus entrepreneurship counseling" mechanism, the Youth D epartment Administration vigorously promotes the “U-start innovation and entrepreneurship program", dedicated to strength the culture of startup in campus. Since the beginning of 2018, the terms for the plan mentioned above had changed to at least three teams, and “more than two-thirds of the team members should be college graduates less than five academic years or present students. If the startup team’s business plan moves on to the second stage and obtains excellence award, the team may be given a venture capital ranging from 250,000 NTD to 1 million NTD. As follows, we have listed the entrepreneurial resources provided by the universities for your reference. If you are a student, don’t miss the opportunity to obtain resources!
  2. Small and Medium Enterprise Administration:
    In order to help small and medium size enterpris es to tackle the difficulty in regard to the lack of skills, talents and funds, the Small and Me dium Enterpris e Administration has promoted the “Small Business Innovation Research Project” in hope to encourage small and medium size enterprises to carry out innovative research on industrial technology and products, and expand investment in R&D. This project focuses on R&D subsidies for entrepreneurship, which can only be applied after the company is established.
  3. Ministry of Science and Technology:
    The Ministry of Scienc e and Technology plays the role as the crucial link for industry, government and university. This government department has spent a lot of effort in promoting innovation and entrepreneurial competitions and programs. If any team has gotten innovative ideas, and the idea is related to “innovative technology" or “Healthcare and me dical system”, which can eventually be commercialized, the team can refer to the “program of Innovation and startups” promoted by the Ministry of Science and Technology. In addition, if the team is in the early stage of foundation or fundraising, TIEC Taiwan can provide funds, skill support and mentor matching. At the same time, TIEC Taiwan also organizes a number of events and exhibitions to enhance the team’s international exposure, such as International Demo Day, TechCrunch Exhibition, CES Exhibition and etc. By grasping those opportunities, the teams are able to bring their creativity to international scope.
  4. County and city governments:
    The government authorities responsible for entrepreneurship in the counties and cities of Taiwan are usually the Development of Economic Development or the Ec onomic D evelopment Bureau. For example, the Taipei City Government Department of Economic Development provides the program “Subsidies & Incentives For Taipei Industry”, to subsidies startup companies; Taoyuan City’s Taoyuan City Government Youth Affairs and Economic Development Bureau are also providing subsidy programs and loans in regard to startup; Taichung City’s startup related matters are in charged by the Taichung Economic Development Bureau. In general, companies can obtain resources and apply to the programs in the city which the companies are registered.

Resources matching

● Government Resource:
Providing foreign lahelpnguage one-on-one consultation services for foreign entrepreneurs. In us e English for foreigners to draft application plans and presentation in order to facilitate the process for foreigners. Integrate all entrepreneurial resources and the subsidy programs as in the field of entrepreneurship, R&D, branding and investment. Moreover, the above plan can be complemented by innovation incubation, international incubation and angel investment. In order to obtain government resources, teams need to submit a plan and presentation. During the application process, it is important to notice the qualifications, conditions and application deadlines. If assistance with the Chinese application documents is needed, it’s welcome to contact STARTBOARD, we can provide relevant advice and assistance.

StartUP@Taipeihttp://www.startup.taipei
Subsidy and Incentives for Taipei Industryhttps://www.industry-incentive.taipei/
International Entrepreneur Initiative Taiwanhttp://sme.moeasmea.gov.tw/startup/
Taiwan Venture Capital Associationhttp://www.tvca.org.tw/news/view/60
Taiwan Tech Arenahttp://taiwanarena.tech/
From IP to IPO Program, Fitihttps://fiti.stpi.narl.org.tw/index
Taiwan Innovation & Technology Arena ( “TITAN" )https://www.titan.org.tw/zh/
Taiwan Startup Terracehttps://www.startupterrace.tw/
Ministry of E ducation U-Start Innovative Startup Programhttps://ustart.yda.gov.tw/bin/home.php

● University’s Incubation Center:

NTU Innovation Incubation Centerhttp://www.ntuiic.com/
Business Incubation Center, NTUSThttps://www.bic.ntust.edu.tw/
Innovation & Incubation Center, NTUThttp://incu.ntut.edu.tw
Center of Industry Accelerator and Patent Strategy, NCTUhttp://ican-iaps.com.tw/project/index. php?index_id=6
Business Incubation Center of Feng Chia Universityhttp://www.bic.org.tw/

Next Chapter: Ch.9- Coworking Space