Taiwan launches high-tech start-up incubator in Silicon Valley

TAIPEI - A State-backed incubator for Taiwan high-tech start-ups has been opened in California, underscoring a commitment by the Government to cement Taiwan’s presence in Silicon Valley and the global supply chain.

Operated by the Ministry of Science and Technology, the Taiwan Innovation and Entrepreneurship Centre will provide financial, management and manufacturing assistance to fledgling firms. It will also pair them with accelerators such as CoinX, Founders Space, Plug and Play Tech Center and Wearable World Labs, and venture capitalists like H&Q Asia Pacific, SVT Angels and WI Harper Group.
“TIEC represents the next step in the Government’s international entrepreneurship development scheme,” Minister Shyu Jyuo-min said. “The facility is a one-stop shop when it comes to breaking into the high-tech region in California. It also offers selected start-ups grants of up to US$20,000 in living expenses.”
Shyu says the centre will be complemented by a US$300 million Taiwan Silicon Valley Fund channelling public-private sector resources into potential-laden projects.
Taiwan is the first Asian nation and the ninth country worldwide to set up a bridging initiative for local firms seeking a foothold in Silicon Valley. The others are Denmark, Finland, France, Germany, Iceland, Norway, Sweden and Switzerland.  www.taiwantoday.tw (ATI).