Taiwan’s GreTai Securities Market launched a business information publication platform Aug. 19 in Taipei City as part of a government effort to promote microbusinesses.
“By providing information regarding creative business ideas, the platform will help introduce startups or individuals who have creative innovations but lack funding to potential investors,” GreTai President Lee Chi-hsien said.
“The involvement of the state-run firm in the process will benefit all parties involved. Business plans will receive publicity, fundraisers will gain more credibility, while investors can be assured that no abuse will occur.”
According to the plan, crowd-funding portal and platform operators can apply to have their business proposals posted on the GreTai platform.
As a capital market geared toward small and medium enterprises, especially high-tech startups, GreTai will play an independent role in the process, Lee said.
“We will set up a mechanism to review the qualifications of participating fundraisers, and continue monitoring their business operations after they begin posting business opportunities on the GreTai platform,” he added.
To increase the public’s confidence in the initiative, GreTai will also make sure that third-party service providers are engaged to manage the transactions so as to avoid any wrongdoing, the business executive said.
According to GreTai, there are already several crowd-funding websites in Taiwan, including WeReport and FlyingV, created in 2011 and 2012, respectively. The latter successfully raised NT$16 million (US$533,333) from 6,000-plus private participants for about 70 business plans. (SFC-SDH)
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