This is the fourth consecutive year for the country to achieve the top ranking, putting it ahead regionally of Singapore, 10th; South Korea, 28th; Japan, 33rd; Hong Kong, 40th; and mainland China, 61st. Overall, the U.S. leads the index, followed by Canada, Australia and the U.K.
Compiled by Washington-based Global Entrepreneurship and Development Institute, the index measures 130 economies on the basis of 34 variables affecting the startup process.
Among the categories, Taiwan performed best in high growth, product innovation and risk capital to tally a total of 69.1out of 100. Coupled with robust economic performance as determined by per capita gross domestic product, the nation stands out as one of the leading entrepreneurial economies worldwide, according to GEDI.
An official with the National Development Council welcomed the result and said it reaffirms government efforts to embrace liberalization and create opportunities across all segments of the economy. “Taiwan businesses have embraced entrepreneurial qualities to enhance industry and product competitiveness.
“By building on the country’s robust information and communications technology infrastructure, as well as the NDC’s Angel Investor Program, Taiwan is now an international hub for enterprise innovations.” (YHC-JSM)
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