TTA attracts several entrepreneurial investors to gather in Taiwan
Due to the recent global pandemic, many industries are facing challenges and transformations, but it is also the best opportunities for startups in Taiwan. In the past few months, many teams have demonstrated a high degree of innovation and adaptability, and come up with various applications. In addition to exploring blue ocean business opportunities, they also enhance Taiwan’s international reputation.
In this wave of changes, a group of Taiwanese entrepreneurs from Silicon Valley saw Taiwan’s technological strength, startups’ vitality and opportunities, so they returned to Taiwan for further development; including YouTube’s co-founder Steve Chen, Mochi Media’s founder Jameson Hsu, the founder of video game Guitar Hero Kai Huang, Race Capital’s partner Phil Chen, the promoter of Warner Bros game Steven Chiang. These entrepreneurs with international experience will join TTA, and dedicate their expertise and investors to Taiwan startups ecosystem and help the teams link the world.
The entrants have invested in more than 400 startups worldwide, with an investment of tens of billions US dollars
The entrepreneurs who join TTA this time not only have abundant international experiences such as startups, mergers and acquisitions, and IPOs, but also act as investors. Until now, they have invested in more than 400 startups around the world with tens of billions US dollars.
Tsung-Tsong Wu, Taiwan’s Minister of the Ministry of Science and Technology (MOST), gave TTA membership black cards to these entrepreneurial investors. In his remarks, Minister Wu said that Taiwan has comprehensive domestic assisting mechanism through cross-ministries cooperation for startups, and now these international entrepreneurs who own professionalism, connections and even funds can make up for the lack of Taiwan startups’ international linkage experience before, connect to larger foreign venture capital and strive for more opportunities around the world.
YouTube’s co-founder Steve Chen said that Taiwanese talents have high quality and even surpass those employees in Silicon Valley. However, most startups in Taiwan can’t access to resources in Silicon Valley due to language barrier. On the other hand, the teams also need to take a long-term vision, quickly adapt to failures and improve. In that case, he wants to introduce Silicon Valley’s experiences to Taiwan, and hopes that the startups will take Taiwan as the first test spot and aim international market with continues work.
MOST are joining hands with global entrepreneurial investors to build new shortcuts between Silicon Valley and Taiwan
Promoting the development of forward-looking science and technology and exploring innovative applications are important missions of MOST. In particular, the cultivation of startups is not easy. From front-end fundamental scientific research, startups coaching to back-end fundraising, we need to build a complete startup ecosystem through cross-ministries cooperation and make Taiwan an important global startup hub.
At the same time, MOST is also actively recruiting experts with successful entrepreneurs to join TTA to attract more global successful experiences and international funds from Silicon Valley and other countries to Taiwan, assisting the teams fight for overseas investments and cooperation, so that the path will be no longer too far between Silicon Valley and Taiwan, and the teams can connect to the world through these international entrepreneurs in TTA.
TTA, organized by MOST, is a tech startup ecosystem program launched in 2018. TTA has partnered with overseas innovation organizations such as French Tech Taiwan、Canadian Technology Accelerator (CTA) and well-known accelerators like SOSV MOX、SparkLabs Taipei、IAPS and BE, to progressively integrated startup programs including training provided into an innovation resources platform which can be leveraged by all the actors in the startup ecosystem in Taiwan. It continues to direct resources from major startup clusters around the world, such as Silicon Valley, and to cooperate with impactful international entrepreneurial events, such as CES. Its visions are to be the foundation of global tech venture, to be the cultural fusing hub of startups, and to be the voice of Taiwan tech startup ecosystem.