At today's launch ceremony for the "Go Incubation Board for Startup and Acceleration Firms (GISA)" at the GreTai Securities Market, Premier Jiang Yi-huah urged government agencies to rally together and help businesses reach their ideals and goals.
"This startup board represents a significant breakthrough in the government's economic policy as it will help microenterprises raise the capital they need to develop into viable businesses," said the premier.
"In his New Year's Day address, President Ma Ying-jeou focused on economic revitalization because the economy is Taiwan's lifeline. Only in a prosperous environment can our people live in peace and security," said Jiang.
"To maintain Taiwan's competitive edge, we must employ a two-pronged strategy: implement free trade policies that will draw the world closer to Taiwan, and encourage the kind of innovation that breathes new life into businesses and transforms industries. As long as we persist in these directions, Taiwan will continue to create economic miracles and build a bright future for itself."
Premier Jiang went on to cite several free trade policies presented by the Executive Yuan at the end of 2013. "In addition to approving a draft special act governing free economic pilot zones, the government has pledged to swiftly overhaul the regulatory environment as a show of Taiwan's determination to join the Trans-Pacific Partnership and the Regional Comprehensive Economic Partnership."
Regarding business assistance, Jiang mentioned that small and medium-sized enterprises with capital of NT$1 million to NT$50 million (US$33,557 to US$1.68 million) number around 500,000, accounting for 82 percent of all companies in Taiwan. "This indicates that many young people would like to have a business of their own," he noted.
To support these enterprising people who may lack the funds, the Executive Yuan has pooled together a variety of government resources including the National Development Fund managed by the Council for Economic Planning and Development and the startup board set up by the Financial Supervisory Commission (FSC). These measures will help innovative microenterprises get off to a solid start, remarked Premier Jiang.
Since taking over the FSC's helm, Minister Tseng Ming-chung has helped Taiwan's financial markets considerably by instituting a suite of reforms, said Jiang. The premier was pleased to see that the 19 startups listed on the GISA board included not only tech companies but also a diverse mix of cultural creativity companies, agricultural businesses, fishery and livestock companies, biomedical firms and social enterprises.