Focus Taiwan
Date: 2017/12/08
By: Su Mu-chun and William Yen
Taipei, Dec. 8 (CNA) Taiwan Incubator (TI), which is jointly established by startup
Image of Taiwan Incubator’s official homepage (https://incubator.tw/)
organizations and local universities, is aiming to help startup companies survive and reduce their rate of failure, which currently stands at 99%, said its chief at a launching ceremony Friday.
Speaking at the event in Taichung City’s Central Taiwan Science Park, TI chief “Jack” Lin Ying-chieh (林英杰) said that despite the number of Taiwanese entrepreneurs increasing every year, the success or survival rate of local startup companies is very low.
Citing statistics from the Ministry of Economic Affair’s Small and Medium Enterprise Administration, Lin said the death rate of a Taiwan-based startup in the first five years is 99 percent.
Common problems startups face are lack of funding, insufficient support, government red tape, as well as general skepticism about them. [FULL STORY]
