On October 17, 2019 Taiwan inaugurated the Startup Terrace innovation park to promote the startup industry and create a benchmark center for international entrepreneurship. Converted from portions of the 2017 Taipei Universiade athletes' village in New Taipei's Linkou District, Startup Terrace is the largest international startup hub in Taiwan.
The complex offers one-stop service as well as rent discounts and waivers to tenant companies, and brings together innovative technologies including artificial intelligence, the internet of things, 5G technology, smart medicine and big data analytics. So far 132 startups and international accelerators from Taiwan and 10 other countries have moved into the park. The government will continue providing full support for startup businesses through such measures as financing assistance, a stronger regulatory framework, multiple exit channels, and international marketing support. These efforts will connect Taiwan's startups to the global community and ultimately drive the nation's economic development.
Strategies for forging an innovative future
■ Connect with local resources: Create a high-quality entrepreneurial environment by taking advantage of the convenient transportation, shopping and other amenities in the area. A one-stop service window has been established to simplify administrative procedures and help new businesses with setting up shop and submitting tenancy applications. The window also provides consultation services for entrepreneur visas, subsidies and incentives, as well as taxation, financial, accounting and legal issues.
■ Connect with industries: Coordinate with eight other industrial, science and business parks within a 5-kilometers radius of Startup Terrace to promote cooperation between small startups and larger companies and industrial parks. Create a high-tech complex boasting Taiwan's world-leading information and communications technologies. Accelerate the development of intelligent manufacturing, smart grid technology, smart retail services and smart medicine.
■ Connect with international markets: Attract international accelerators as a means of drawing resources and startup talent from other countries. Send local startup teams to top competitions and exhibitions around the world, creating opportunities to increase international visibility and collaborate with multinational corporations. Organize international business exchange activities and overseas market development conferences.