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May 28, 2017

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COA promoting investment in agriculture-tech companies

TAIPEI--The Council of Agriculture (COA) is hoping to encourage venture capitalists to invest NT$100 million over the next four years in agriculture technology companies through a recently established matchmaking platform, the council said Saturday.

The first matchmaking event held June 11 attracted 13 agritech companies and 60 venture capital firms, said Li Hung-hsi, deputy chief of the COA's Department of Science and Technology.

Li said the COA will continue to help more agriculture companies obtain outside funding to promote their development by seeking investment from venture capitalists and helping companies go public.

Over the next four years, the COA plans to guide 10 agriculture companies to register as emerging stocks and on the Go Incubation Board for Startup and Acceleration Firms (GISA), she said.

Also, the COA plans to help another eight companies go public on the main stock market or over-the-counter market, she added.

Since 2011, the COA has been assisting 24 agriculture companies with growth potential to list on the Taiwan Stock Exchange or the over-the-counter market.

Among these companies is TCI, a large contract manufacturer of dietary supplements and skin care products, which began trading its shares over the counter in September 2013.

In addition, the COA has recommended 18 companies for registration on the GISA, a platform helping small, innovative companies that have not gone public raise capital.

Two of the companies have completed their registration so far, according to the COA.

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