The third consultation meeting for Asia New Bay Area 5G AIoT Innovation Park was held at the Ministry of Economic Affairs (MOEA) which highlighted the most recent inter-ministerial communication achievement in the development of the innovation park, smart facilities, start-up linkages, field applications, talent nurturing and industrial clustering.
It was reported that as of the end of 2022, Asia New Bay Area 5G AIoT Innovation Park has attracted domestic and foreign investment, generating over a billion in production value. Some big corporations have opened offices in Kaohsiung. Three foreign accelerators and 95 start-ups have also joined the innovation park to form part of the 5G AIoT entrepreneurial ecosystem in the Asia New Bay Area.
The Industrial Technology Research Institute (ITRI) and the Metal Industries Research & Development Centre (MIRDC) partnered to help local prominent firms move to 5G AIoT. This agreement fosters talent flow to southern Taiwan and promotes industry innovation upgrades, positioning the region as a leader in next-generation tech applications.
According to Deputy Minister Chern-Chyi Chen, the innovation park is the most comprehensive 5G AIoT implementation site in Taiwan, with the highest investment. The year 2022 proved to be a highly fruitful year because of the inter-ministerial team formed by MoEA that integrated and negotiated central and local government resources.
The 5G AIoT ecosystem successfully landed in Kaohsiung to conduct thirty-six novel field validations on the local level. Since 2021, the number of start-up teams in residence has doubled because of linking start-ups. This demonstrates that 5G AIoT Innovation Park has evolved into the optimal environment for start-up teams to establish new businesses.
The Asia New Bay Region benefits from exceptional industrial and transport characteristics. MOEA will continue to partner with other government agencies and domestic and international businesses to promote the development of the Asia New Bay Area Innovation Park and foster digital upgrades and transformation in southern Taiwan’s sectors.
Deputy Mayor of Kaohsiung Tao-Sheng Lo asserts that the Innovation Park has tremendous potential as a demonstration site. To entice manufacturers, the government of Kaohsiung introduced the incentive, which provides interest, property tax, and wage subsidies to help enterprises gain a foothold.
In turn, this stimulates the innovation park’s growth. Together with the central government, the Kaohsiung City Government will establish the largest 5G demonstration site and digital transformation hub in Taiwan.
It also provides administrative help and full service to all application sites. This support is intended to entice more enterprise partners to join Kaohsiung’s digital transformation and collaborate on the city’s future economic and industrial growth.
The Asia New Bay Area 5G AIoT Innovation Park highlights achievements resulting from the efforts and collaboration of the federal, state, and local governments with the industrial and research sectors. Under MOEA’s “A+ Industrial Innovation R&D Programme,” significant progress has been made in the expansion of industry clusters.
The Asia New Bay Area 5G AIoT Innovation Park will continue to integrate government and industry resources, concentrating on the local petrochemical, maritime, and digital entertainment sectors.
It will also connect domestic and international corporations with start-ups to create a large number of domestic corporations in the 5G AIoT supply chain. The initiative to transform and upgrade the industrial structure of southern Taiwan will increase its international competitiveness.
The city government of Kaohsiung has announced the start of the “Asia New Bay Area Plan 2,” which would work with the central government to form economic clusters and serve as a gateway for businesses to internationalise.
