Taipei, March 27 (CNA) The Ministry of Economic Affairs on Thursday released Taiwan’s first white paper on the country’s startup environment and ecosystem.
In a statement, the ministry said that as of Dec. 31, 2024, 9,576 Taiwanese companies were listed on FINDIT, a government-backed startup information platform.
The diverse products and services offered by these startups show the strong foundation the Taiwanese government has built for entrepreneurship, the ministry said.
According to Taiwanese regulations, a startup is a business that has a paid-in capital of less than NT$100 million (US$3.02 million), or hires less than 200 employees on a regular basis, and has been established for less than eight years.
The companies listed on FINDIT operate in a diverse range of businesses, including healthcare, media and entertainment, food and beverage, consumer goods, hardware manufacturing and software, according to the statement.
The most rapid growth of new startups in the fields of digital solutions and transformation with artificial intelligence (AI) and software, energy, sustainability and environment, the ministry said.
This reflected the government’s targeted support for strategic areas, including digital transformation, health care, semiconductors and AI, according to the ministry.
Energy, biotechnology and healthcare startups in Taiwan have been the most favored by investors, the ministry said.
Meanwhile, green energy, sustainability, and carbon reduction business saw the largest increase in funding, Minister of Economic Affairs Kuo Jyh-huei (郭智輝) said in the prologue of the white paper.
In 2023, energy startups attracted US$1.071 billion in investment thanks to the demand for energy saving, power storage, and power management solutions, according to the white paper.
Companies in the biotechnology and health business received US$564 million in funding in 2023, FINDIT data showed.
Taiwanese startups generally place importance on research and development, as nearly 70 of them have technical staff and operate with technology development as their core business, the ministry said.
The white paper also has information regarding government support available to entrepreneurs, including subsidies, loans, investments and help attending trade events, according to the ministry.
