The government’s ambitious targets to grow Taiwan’s internet of things industry are coming together despite talent-related teething troubles.
The News Lens
Date: 2018/09/09
By: Courtney Donovan Smith
How can Taiwan’s highly successful – but low margin – contract electronics manufacturing prowess be leveraged to create innovative brand leaders as higher-margin “internet of things” (IoT) businesses?
That is the ambitious task given to the government’s Asia Silicon Valley Development Agency (ASVDA) as part of Taiwan’s 5+2 Innovative Industries Plan headed by Deputy Minister of Economic Affairs Kung Ming-hsin (龔明鑫). The agency – headquartered in Taoyuan with branch offices in Taipei and Silicon Valley – was launched in 2016 with initial funding for 2017 of NT$10 billion (US$361 million at the then exchange rate), with plans to add NT$5 billion (US$170 million at current exchange rates) annually.
The government announced on July 26 that the overall technology budget for 2019, including ASVDA, will total NT$116.3 billion (US$3.8 billion), up 5.12 percent from this year. [FULL STORY]