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September 20, 2017

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FSC expects 300 small firms on incubation board in four years

TAIPEI -- The Financial Supervisory Commission (FSC, 金管會), Taiwan's top financial regulator, expects the number of small businesses registered on the local incubation board to hit 300 in four years.

In early January, the GreTai Securities Market (GTSM, 櫃買中心), which operates the local over-the-counter (OTC) market, launched the incubation board to help small and micro enterprises in Taiwan raise funds for future development.

FSC Chairman Tseng Ming-chung (曾銘宗) said the GTSM plans to visit about 800 small and micro businesses in four years and hopes that about 300 will be registered on the incubation board.

Tseng said the incubation board aims to assist small enterprises that have great potential to expand, and through such a fund-raising venue, Taiwan is likely to cultivate its next Taiwan Semiconductor Manufacturing Co. (TSMC), its next Hon Hai Precision Industry Co. (鴻海) or its next MediaTek Inc., which enjoy high visibility in the global market.

TSMC now is the world's largest contract chip maker, and Hon Hai ranks as the world's largest contract electronics supplier, while MediaTek (聯發科) is one of the world's leading integrated circuit designers.

So far, a total of 29 small companies have been registered on the incubation board, most of which are in the electronics and biotech sectors, according to the GTSM.

Since the launch of the incubation board, the GTSM has received 82 applications for registration in the fund-raising venue, the exchange said. The 82 include 23 electronics firms, 19 biotech companies, 16 cultural creative product suppliers, 10 electronics-commerce operators, and five agricultural businesses.

A company eligible to raise funds on the incubation board should be capitalized at no more than NT$50 million (US$1.67 million).

Tseng said the FSC will continue to help local enterprises and raise funds by providing them with more fund-raising options, a move that is expected to strengthen the local private sector's competitive edge and eventually boost the local economy.

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