The number of Taiwanese enterprises to accept Corporate Startup Engagement (CSE) has grown compared to years back. According to “2021 Taiwan CSE Report”, 39.4% of mid-to-large enterprises have engaged with startups, 38.4% have evaluated and observed, and only 22.2% have no intention in short term perspectives. There’s no doubt that CSE has become a trend that people are interested in and expected to be part of it.
CSE is the Key to Promote Cross-Industry Innovation and Facilitate Sustainable Value
Taiwan startup ecosystem has been growing tremendously in recent years. Not only have they sprung up, but startups have also successfully expended their business models oversea. At the same time, they work with mid-to-large enterprises through CSE to introduce startups products and services (52.9%), to utilize startups tools and methodologies and promote internal culture transformation (47.9%), and further to proceed with conceptual validation (46.2%). For example, Asia Pacific Telecom, a mid-to-large enterprise, cooperates with MAKAR REALITY to apply 5G technology to Songyan Cultural and Creative Park. Startups have lived up to expectations through their visionary technologies and products, integrity, and mature business models. As a result, the number of CSE cases is increasing.
Look closely in existing mid-to-large enterprises CSE scale, the focus is on startup transformation acceleration: AI (52.9%), intellectual production (28.6%), information security (26.1%), fintech (24.4%), and IoT networks (24.4%). Even CSE late comers express their interests in information security (48.1%), intellectual production (47.0%), AI (44.3%), IoT networks (26.8%), e-commerce/new retail (24.6%). It’s obvious that mid-to-large enterprises take CSE as the key process to promote startups transformation.
Evidently, metaverse and net zero emission have contributed to global CSE development; for example, Microsoft and Amazon have engaged in climate control: Microsoft invests in AutoGrid, a big data analysis company, whereas Amazon owns some equities of EV manufacturers Rivian. The mid-to-large enterprises not only revamp through CSE but also accelerate cross-industry innovation and promote sustainable values.
Trend of Taiwan Startups: Oversea Startups Localization and International Venture Capital
Aside from supporting tech startups through CSE, there is a booming trend in Taiwan of following existing startups’ leads. That is, established tech startups integrate resources for new business opportunities so that they could accelerate new startups. Not only does it benefit startup development, but it also trandforms Taiwanese startup ecosystem to become more systematic and scalable. With help from mid-to-large enterprises and established startups, there is a positive development cycle in Taiwan startup ecosystem.
The mix of booming startups ecosystem, Taiwan's unique advantage of post-US-China Trade War business opportunities and Taiwan's advanced semiconductor industry have brought up two trends: first, the international venture capital in the Taiwan startups market, such as biotechnology startup Acepodia has received Series C funding and plans to acquire three FDA certidicates in three years with help from Zoom US, Xian-Zhe Chen of Polaris Pharmaceuticals, Jerry Yang of Yahoo! founder, and Terry Gou of Hong Hai Foxconn.
Second, attract oversea startups to Taiwan. In 2021, there were 177 startups newly set up through the effort of 14 startup accelerators with exclusive funding, series funding, investment courses, Demo Day, etc.; 37% (65) startups are from 20 countries, including Hong Kong, US, Singapore, and India. The main reasons are, virtual incubation and exchange have been the new normal due to the COVID pandemic, and oversea startups consultation policies and resources are matured to attract overseas startups applying for Taiwan startup accelerators programs.
To sum up, Taiwan startup technologies and incubator services are now well-known that not only benefit Taiwan startups ecosystem rapid growth, but also encourage more CSEs and cross-industry startup revolution, and further bring more series investors to enhance Taiwan tech startups investment chain and push forward to the global market.
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