2024 Discover Taiwan Startup Ecosystem
This report, "Discover Taiwan’s Startup Ecosystem 2024," serves as an in-depth look into the dynamic landscape of innovation and entrepreneurship in Taiwan. It is anchored by the nation's unified startup brand, Startup Island TAIWAN, which represents a "transformative journey from a burgeoning 'startup island' to a formidable force on the global stage". The brand’s identity, featuring abstract mountains mirrored in the ocean, symbolizes infinity and the deep-seated entrepreneurial spirit ingrained in its people.
Taiwan is strategically positioned in the heart of East Asia, recognized as a global beacon of innovation and technology. The island stands at the forefront of technological advancements, particularly renowned for its cutting-edge computer microchip manufacturing and globally acclaimed Information and Communication Technology (ICT) industry. This robust technological base, combined with its favorable global standing (ranked #1 in the Global Health Care Indicator and consistently securing a top-three position in the GEM National Entrepreneurship Context Index), positions Taiwan as an optimal choice for international R&D investment and startup expansion.
The report further examines the foundations of this success, highlighting the Taiwanese government's strategy to evolve into an innovation-driven economy. This strategy is built on key policy initiatives, including the 5+2 Innovative Industries Plan and the ambitious Six Core Strategic Industries initiative, which aim to propel sustainable growth in sectors like precision health, green energy, and strategic stockpile industries, establishing Taiwan as a pivotal global economic player.
By turning inward, the report analyzes Taiwan's entrepreneurial DNA and decade of growth. As of June 2023, the ecosystem includes 7,433 startup ventures, predominantly concentrated in the six major municipalities, with Taipei City leading the distribution. Early-stage investment has amassed an impressive total of $10.79 billion USD from 2015 to the first quarter of 2023. The deal flow is concentrated in Health and Biotech (with 563 deals) and the rapidly growing Energy sector. The report concludes with a showcase of Taiwan’s most promising ventures through the NEXT BIG program, highlighting the trailblazers spearheading the technology era on the global stage.
For the full report, please check the attached file.
