Summary:
Taiwan opens a startup hub in Silicon Valley to enhance global visibility.
Focus on supporting startups with consulting, co-working spaces, and community platforms.
Aims to nurture 100 startups and attract 2,000 talents back to Taiwan this year.
Despite a 40% global funding decline, Taiwan's startup funding grew by 10%.
Nvidia plans to establish its Asia headquarters in Taipei, creating 2,500 jobs.
Taiwan's New Silicon Valley Hub
Taiwan has officially opened a new office in Palo Alto, a key city in Silicon Valley, aimed at enhancing the global visibility of Taiwanese tech startups. The initiative, known as the 'Startup Island Taiwan Silicon Valley hub', is located at 299 California Avenue.
Objectives of the Hub
The main focus of this hub is to support startups and innovators by providing:
- Professional consulting
- Co-working spaces
- Community platforms
This is the second overseas startup hub established by the National Development Council, following a similar launch in Tokyo last September.
National Development Council Minister Paul Liu speaks at the launch of a start-up hub in Palo Alto, California.
Launch Event Highlights
The launch event saw participation from Taiwanese startups, local businesses, and venture capitalists, where Minister Paul Liu emphasized the hub’s role in showcasing Taiwan’s semiconductor and AI strengths while connecting startups with global opportunities.
Growth and Aspirations
The hub aims to nurture over 100 startups this year and attract 2,000 talented individuals back to Taiwan. Liu highlighted Taiwan’s significant position in the global tech landscape, noting its 90% market share in semiconductors and AI servers.
Despite a 40% decline in global startup funding last year, Taiwan’s funding rose by 10%, reaching a record NT$2.8 billion (approximately US$84.9 million). Additionally, Nvidia announced plans to establish its Asia headquarters in Taipei, promising around 2,500 jobs.
Bridging Taiwan and the US
Dennis Liu, the director of the US hub, mentioned that the site aims to serve as a bridge between Taiwan and the US, showcasing Taiwan’s technological capabilities. Steven Su, CEO of Taiwanese startup Ubestream Inc, praised the hubs in Palo Alto and Tokyo, calling them a great blessing for local startups, while urging the government to offer financial support to ease the burden of high overseas rents on new ventures.
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