Government looking for faster growth of start-up companies
CNATAIPEI, Taiwan -- Taiwan's government plans to put more resources into domestic start-up companies to help them grow faster in the rapidly changing business environment, Deputy Economics Minister Duh Tyzz-jiun said yesterday.
August 13, 2013, 12:05 am TWN
The government now wants to help start-ups tap into the supply chain of large global companies in three to six months through an incubation accelerator platform, rather than the three to five years typically needed using a more traditional approach, Duh said.
Unlike traditional incubation centers that basically provide office space and only general mentoring for start-up teams, the accelerator platform offers exclusive mentorships based on the specific needs of each start-up team.
Mentorships describe the process of experienced executives or venture capitalists offering their expertise to start-up companies to help get them off the ground.
The platform will also offer financing options to the teams at a nearly stage instead of waiting for the budding companies to prove themselves, Duh said.
“We will provide more help with mentorships and gaining access to capital, such as angel funds,” Duh said at the opening ceremony for Taiwan International Incubation Week, which will last until Aug. 16.