InnoVEX Rendezvous was a Success

 2018-07-30 By: InnoVEX Team

InnoVEX Rendezvous was held on July 25 to help familiarize startups with what resources they can get in Taiwan and on a broader scale, why Taiwan as a startup destination. The event featured distinguished speakers: Ms. Stephanie Tang of Rookie Fund; Ms. Jessica Huang from the Businesses Angel program of the National Development Fund, Executive Yuan; Dr. Leo Lee of the Taipei Smart City and Startup Terrace; and moderated by Mr. Fenix C. Hsu.

InnoVEX was established in 2016 as a platform specifically for tech startups to network with global buyers, investors, and manufacturers. This exhibition aims to accelerate the commercialization process, while also providing effective matchmaking for capital and manufacturing capabilities. InnoVEX also has a packed schedule of forum sessions, pitch contest, startup demos, and one-to-one business matchmaking. InnoVEX also held the InnoVEX Rendezvous to help develop startups and entrepreneurial spirit.

The InnoVEX Rendezvous covered the topics of what resources are available for startups in Taiwan and where to get them. As the number of entrepreneurs in Taiwan; both local and foreign increase, they will need more resources to make sure they can not only survive, but get ahead of the curve.

According to Ms. Huang, the SMEA (Small and Medium Enterprise Administration) estimated 10% to 15% of Taiwanese companies are technology or innovation based which puts the number between 1,000 and 1,300. The SMEA industrial outlook of Taiwan also shifts steadily to technology with currently 13% of new companies dealing in electronics or ICT based products or services.

The talk also discusses how the Taiwanese government is fully supportive of startups and there are many accelerator or incubator programs aimed to help the budding entrepreneurs. One of the programs discussed is the Linkou Startup Terrace; a program organized by SMEA and executed by TCA (Taipei Computer Association) & ITRI (Industrial Technology Research Institute).

The Rookie Fund is also actively helping students who want to become entrepreneurs and investors by providing coaching, consulting, and more. The Taipei Smart City Project Management Office who also participated in the event promotes public participation and public-private partnership in order to create new technologies, innovative applications, and data/information to solve citizens' problems. The National Development Fund, Executive Yuan provides angel investment programs for businesses; which startups might find useful.

One of the supporting reasons for starting up in Taiwan is the engineering talent. Entrepreneurs can easily find great engineers in Taiwan who are vital, especially for tech startups. Many Taiwanese engineers are also proficient in English which will help for foreign entrepreneurs.

The government regulations are also being actively amended to support entrepreneurship and entrepreneurs. An example is regulations regarding fundraising. Where previously startups can only raise funds by equity purchase, now startups can issue convertible notes.

The event finished with a networking opportunity for the participants; many of whom are from startups or about to make their own startups.

InnoVEX Rendezvous is only the first of a series of events TCA will host in preparation for InnoVEX 2019, which will be held in May 2019. Expect more exciting events, distinguished speakers, and more.