Taiwan’s initiatives to encourage entrepreneurs

Taiwan is encouraging more entrepreneurs to set up business in the country. The Taiwanese government has introduced the Entrepreneur visa and the Employment Gold Card. These visas encourage international talent to come and set up business here. Under this scheme companies receive a residency for their team (limited to three people) for one year. This can be extended to two years if the company is doing well.

The Act for the Recruitment and Employment of Foreign Professionals started by the government provides benefits to skilled foreign talent including tax benefits.

The government is taking steps to encourage the development of Fintech startups. It is also giving a push to AI and IOT development by providing open data to everyone. The Government Information Open Platform provides data to anyone in 27,000 categories. Access to this information enables companies here to create new applications.

Amazon, Microsoft, Google and IBM have taken initiatives to develop AI and IOT businesses in Taiwan.

The local talent in Taiwan is highly qualified to work in technology startups. More than 10,000 computer engineers and IT professionals pass out of local universities every year. The salaries of tech workers are lower in Taiwan compared to other countries in the region. More than 60% of engineering teams here have startup experience making them a valuable resource for technology companies who want to outsource projects or build partnerships with local teams.

The Taiwanese government is taking measures to develop an active startup ecosystem within and outside Taiwan. It is taking steps to develop the technology sector and move beyond hardware and manufacturing.  It wants to attract more international entrepreneurs, nurture local talent, encourage investment and develop the startup economy.

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