Minister Liu Chin-ching of the National Development Council tours Japan to promote a bridge program to help startups from Taiwan reach out to the world and create a global ecosystem for innovation.
The Executive Yuan’s National Development Fund and the Kyoto University Innovation Capital Co., Ltd. set the initiative in motion with a memorandum of understanding Sept. 13 in Kyoto. Witnessed by Liu and Kyoto University President Nagahiro Minato, the pact will boost mutual investment to cultivate a larger talent pool in deep tech, a field that encompasses quantum technology, robotics and semiconductors, among others.
Following the event, the NDC and Tokyo Metropolitan Government cooperated to hold a Taiwan-Japan startup summit Sept. 17 at Tokyo Innovation Base. Liu led a delegation of representatives from nearly 50 startups in Taiwan to participate in the event, while Governor Yuriko Koike of Tokyo attended the summit virtually.
During his opening remarks, Liu introduced the council's Bridge program and said Taiwan will expand investment in domestic startups through funds focusing on fields spanning artificial intelligence, biomedicine, cultural creativity and green technology. He also announced the establishment of a startup hub in Tokyo to expand bilateral exchanges and create more business opportunities.
According to the NDC, the summit focused on industrial innovations including the semiconductor supply chain. It helped startups from Taiwan meet potential investors in Japan in areas spanning AI, cybersecurity, financial technology, and national defense and aerospace, the council said, adding that financial institutions, venture capital firms and several local governments around Japan sent representatives to attend the event.
Later the same day Liu joined a joint news conference held by the Japan National Press Club in Tokyo, elaborating on the council’s plan to increase cooperation with Japan on technology innovations and the startup ecosystem.
Taiwan’s private investment is forecast to top NT$5 trillion (US$156.67 billion) in 2024, and a total of US$5 billion is expected to be invested in startups per year, Liu said. The minister added that international tech giants such as U.S.-based Nvidia Corp. and Advanced Micro Devices, Inc. recently announced their intention to establish research and development centers in Taiwan, touting Taiwan as a destination for Japanese investors, especially in the semiconductor industry where both sides complement each other so well. (YCH-E)
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