START-UP HUB: The Cabinet plans to help start-ups in early-stage funding, recruit employees, facilitate mergers and public listings, and tap into the international market
Taipei Times
Date: Feb 23, 2018
By: Chen Wei-han / Staff reporter
The Executive Yuan has set a goal of creating a unicorn company in two years and
Premier William Lai holds flowers during a prayer for Taiwan at Cingan Temple in Keelung yesterday. Photo: Yu Chao-fu, Taipei Times
increasing annual investment in start-ups by NT$5 billion (US$170.64 million) as part of a program to improve the domestic entrepreneurship environment and make Taiwan a regional hub for start-ups.
The Cabinet yesterday announced an action plan to improve the investment environment for Taiwanese start-ups and promise to help incubate the first unicorn business in two years and three other unicorn companies in the next six years.
A unicorn is a start-up that is less than 10 years old with a value of more than US$1 billion without going public.
There are 228 unicorn companies in the world and Taiwan has yet to have its own, National Development Council Minister Chen Mei-ling (陳美伶) said. [FULL STORY]
