ASIAN VERSION:The government’s seven-year program is aimed at turning Taiwan into a hub for next-generation industries and helping incubate at least 100 start-ups

Taipei Times
Date: Sep 09, 2016
By: Chen Wei-han / Staff reporter

The Executive Yuan yesterday launched a policy implementation plan for the government’s “Asian Silicon Valley” initiative aimed at capturing 5 percent of the global Internet of Things (IoT) market by 2025.

The plan aims to drive the research and development of IoT technologies and products, improve the nation’s start-up ecosystem, connect Taiwanese businesses with international start-up communities and build a domestic supply chain, National Development Council Deputy Minister Kung Ming-hsin (龔明鑫) said.

The seven-year plan has received a NT$11.3 billion (US$361.18 million) budget this year in hopes of making Taiwan a hub of next-generation industries, Kung said.

Its goal is to increase Taiwan’s share of the global IoT market from 3.8 percent last year to 5 percent by 2025; transform 100 start-ups into publicly traded companies; and establish three world-class companies that offer total-solution services for the information technology industry.     [FULL  STORY]