“We are extremely pleased to host this event and showcase homegrown firms and their creative designs,” an official from the MOEA said.
The biggest Internet startup event in Taiwan, IDEAS serves as a matchmaking platform for emerging companies and offers related forums and seminars. Entering into its seventh year, the two-day show attracted 55 teams from countries such as Japan, New Zealand, Singapore and South Korea.
“This year we have a record international presence,” the official said. “This augurs well for the long-term success of the show and underscores its key role in driving this potential-laden industry.”
During the matchmaking sessions, firms pitch their plans to venture capitalists in six-minute presentations. In addition to securing investment opportunities, those local outfits displaying the greatest potential will receive advisory support from the MOEA on how to commercialize their products.
Although many of the companies taking part in the show are app-makers, others include local health care device manufacturers such as SpotCam Co. Ltd. and LongGood Ltd.
Since its inception in 2008, IDEAS has incubated more than 1,000 startups like Gogolook Co. Ltd., developer of caller ID tracing app Whoscall. The Taiwan startup was purchased last year for NT$529 million (US$17.5 million) by South Korea’s Naver Corp. (DF-JSM)
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