Asia Silicon Valley Development Plan

  • Date: 2018-04-20

The Asia Silicon Valley Development Plan was approved by the government on September 8, 2016 to connect Taiwan with high-tech R&D communities worldwide and seize opportunities in next-generation industries. As the flagship program of the “five plus two” innovative industries, the plan focuses on promoting innovative research and development for the internet of things (IoT) and building a comprehensive ecosystem for innovative startups. Its aim is to boost economic growth and create job opportunities by transforming Taiwan from a traditional contract manufacturer to a provider of smart, innovative services such as mobile lifestyles, artificial intelligence, automated driving, and augmented and virtual reality.

Four main strategies

Build a comprehensive innovative startup ecosystem: Including attracting and retaining bright talent, helping startups obtain capital, improving the regulatory environment, strengthening the functions of innovation clusters, and forging stronger ties with innovation clusters in other countries.
Connect to international R&D communities: Including establishing an innovative R&D center, connecting with Silicon Valley and other innovation communities, importing foreign technologies, and pursuing cooperation with venture capital firms overseas.
Create an IoT value chain: Including converting IoT academic research into commercial applications, and filling the gaps in IoT technologies.
Provide demonstration sites for smart technologies: Including coordinating field verification among central and local governments and international firms, setting up an IoT testing center for the Asia-Pacific, and promoting demonstration projects for smart application services, in particular smart logistics, smart transport and smart health care.

Expected benefits

Taiwan’s share of the IoT global market will grow to 5 percent by 2025.
Taiwan will have 100 IoT ventures, either local startups rising to success or R&D centers set  up by international corporations.
Three world-class systems integration companies will be nurtured in Taiwan.
Taiwan will attract investments from two world-class corporations.