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Startups’ Tech Innovations Flourish in Taiwan

As the pandemic continues to spread globally, the impact has shifted the market and created new opportunities for startup innovation through digital transformation. Taiwan Tech Arena (TTA) aims to help Taiwan startups overcome the obstacles caused by the pandemic by actively leading startups to seize international business opportunity through digital connections.

Taiwan Tech Arena, an initiative by the Ministry of Science and Technology, was launched as part of government efforts to strengthen the country’s innovative startup ecosystem. Due to reduced operations or shut down in the global market due to the COVID-19 pandemic, TTA actively utilises digital connections to continually seize post-pandemic business opportunity for Taiwan startups. Although the pandemic has stalled face-to-face business meetings, it is also a turning point for developing digital service and technology.

TTA grasps this opportunity to embrace a new startup assistance model. Not only have online mentor office hours to ensure continuing support for the teams.  It has also compiled comprehensive relief resources for startups to respond to the pandemic.

Taiwan’s Ministry of Science and Technology (MoST) which supported TTA stated that Taiwan startups have gained worldwide recognition as five Taiwan startups have brought home four winning awards. Through a virtual networking platform, TTA also provides a gateway for global enterprises and investors to engage with Taiwan’s technology resources.

A winning team from a content creation startup developed and brought together Augmented Reality (AR), Virtual Reality (VR), and Artificial Intelligence (AI) technologies to provide multiple one-stop solutions with end-to-end service to clients in various industries such as real estate and luxury brand etc.

Another winning team from AI and cloud startup provided an immersive experience to users by transforming any space into a group fitness class. The startup used AI motion-sensing technology combined with 5G computing technology. A tech startup provided solutions for 5G base station optimisation technology that has been highly recognized by the communications industry.

The first female winning team startup dedicated its efforts to empower the media and advertising industry to turn their stories into quality videos at scale. Users can generate videos from news content, social posts, live sports events, and statistical data in minutes. The last winning team focuses on smartwatches and health digital platforms for children, allowing parents to use an app to track children’s activities and health.

TTA’s mission is to support startups through international accelerators for fundraising and connecting startups with international networking platform to assist startups in adapting to the changes in the global markets during the post-pandemic era. Through the integration of online and offline marketing strategy, TTA facilitates more than 400 startups to move forward towards viable and more in-depth collaborations with multinationals and overseas investors. Aside from connecting Taiwan startups with the global ecosystem, TTA actively promotes Taiwan’s startup brand through the digitalisation strategy.

As reported by OpenGov Asia, Taiwan has been promoting innovative technology with market potential and facilitated commercialisation and market globalisation for startups. While the pandemic continues to have a huge impact on industries across Taiwan, it has created a range of opportunities for start-ups to control and mitigate the effects as well as help the economy and nation rebound.

With the rise of the residential leasing market in Asia, one of the gold-winning start-ups offers SaaS applications for residential property management with its proprietary cloud-based software solution. The platform automatically integrates information such as lease agreements, tenant information, lease terms, rents, repairs and smart home device management to effectively streamline and increase the efficiency of the property management business.

Similarly, a cybersecurity start-up, foreseeing the global demand of 5G and IoT, has developed a disruptive innovation for data security management. Unlike a traditional firewall, the solution focuses on its customers’ most important confidential files. After fragmenting the files, the fragments are each encrypted with blockchain technology. Not only does this effectively prevent theft and blackmail but also reduce the risk of file tampering.

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