By: Chen Cheng-wei and Evelyn Kao
Taipei, May 15 (CNA) A national investment company will be set up if an initial NT$2
billion (US$66.48 million) fund designed to support Taiwan’s startups in the Internet of Things (IoT) sector can be raised from the private sector in the next six months, said Chen Tain-jy (陳添枝), head of the Cabinet’s National Development Council (NDC).
The company is part of the “three-carriage” strategy proposed by Chen soon after he assumed his post a year ago to stimulate the economy by encouraging private sector investment.
The two other carriages are creating an industrial innovation and transformation fund to encourage companies to invest in structural transformation and promoting investment in five innovative industries, including green energy, biomedicine, intelligent machinery, national defense and “Asia Silicon Valley.” [FULL STORY]