(Photo Courtesy of Office of the President)
Taipei, May 15 (CNA) Vice President Chen Chien-jen (陳建仁) said Monday at a forum to promote the Internet of Things (IoT)-focused Asian Silicon Valley initiative that the plan is integral to Taiwan's future economic development.
The forum in Taoyuan was attended by more than 200 people, including officials responsible for making policy in the sector, representatives of the IoT industry and investors.
Chen said that because the initiative contains several major elements that will actively integrate Taiwan's hardware and software strength and promote innovation, it will play a key role in pushing forward Taiwan's economic development.
A major driver of the Asian Silicon Valley plan will be innovative business startups, and access to capital is always a crucial factor in determining whether such startups succeed or fail, Chen said.
Thus, the National Development Fund will provide financial support through its startup angel fund project and small business innovation program to help develop innovative enterprises, Chen said.
The fund's assistance will encourage Taiwan's small and medium-sized enterprises to step up their development of innovative new technologies and new products and assist young entrepreneurs to innovate and start their own businesses, the vice president said.
To cultivate and attract top talent, the government plans to send at least 50 people with doctoral degrees to Silicon Valley per year to participate in internship programs and learn how to improve Taiwan's research and development capabilities.
The government has also drafted a bill on recruiting and hiring foreign professionals that will give them more incentives to work in Taiwan, Chen noted.
Smart city demonstration sites and certifications, meanwhile, are the main focus of the IoT industry, Chen said, so the government will first concentrate on smart transportation, smart health care and IoT application platforms to help boost domestic industries.
In addition, the government has formed an alliance that includes 140 IoT organizations to consolidate industrial R&D capabilities and connect with Silicon Valley and other innovation clusters to develop next-generation IoT standards and business opportunities, the vice president said.