Should Taiwan’s stock market regulator take profits from listed companies and banks to fund startups?
The News Lens
Date: 2016/06/21
By: Yuan-ling Liang
A move by Taiwan’s securities regulator to set up an angel investment fund has drawn criticism
Photo: J. Michael Cole / TNLI
from within the startup community.
In early June, the Financial Supervisory Commission (FSC) initiated a series of meetings with banks, insurance companies and investment firms to build support for Taiwan’s startup industry.
FSC chairperson Ding Kung-wha (丁克華), who took office in May, has proposed several new policies, including supporting companies that fund startups, promoting e-commerce, encouraging venture capital and setting up a new angel fund. Among the policies, the angel fund proposal has captured the most attention and generated controversy in the startup community.
The FSC wants to use 2% of the after-tax earnings from listed companies in Taiwan to set up the fund. However, it does not plan to force companies to participate. In 2015, the net profit of all listed companies was NT$18.3 trillion (US$567 billion), which scales the angel funds to about NT$400 billion. [FULL STORY]
