Overseas Community Affairs Council (OCAC) Minister Wu Hsin-hsing (standing, center) explains to those in attendance how the Overseas Community Affairs Council can help the Startups
Representatives of startups express their ideas
Photograph of OCAC Minister Wu Hsin-hsing and startup representatives
On April 10, OCAC held “An Explanation Session on Helping Startups Expand Overseas Business Opportunities” hosted by OCAC Minister Wu Hsin-hsing. In attendance were officials from the National Development Council, Ministry of Economic Affairs, Overseas Guarantee Fund (Taiwan), representatives from 31 startups and three business incubators. In order to implement the Executive Yuan’s “Action Plan to Optimize the Investment Environment for New Businesses” Wu indicated that this year the council has already held six matchmaking events to develop overseas business opportunities for new businesses and three explanation sessions designed to help startups expand overseas. Overseas compatriot businesspeople and new business entrepreneurs met at these events in the hope of working together to create new opportunities for local and overseas enterprises.
Wu Hsin-hsing said the government has consistently attached great importance to economic development and through the New Southbound Policy the OCAC is playing an “interpersonal relations networking” role that involves bringing together overseas compatriot businesspeople and startups. He reiterated that with the rapidly changing nature of commercial markets and the arrival of an era of digitization and intelligent logistics, enterprises need to think innovatively, particularly when seeking to enter overseas markets where they may lack connections, markets, distribution channels etc. In that context, OCAC plays the role of a platform facilitating communication and exchange between overseas compatriot businesspeople and startups. Wu said the aim was to use the opportunity offered by the current meeting to better understand the needs and difficulties of new local firms as they seek to expand into overseas markets as an important reference point for future efforts to bring interested parties together and create business opportunities.
Representatives of startups enthusiastically exchanged opinions, indicating their lack of knowledge on how to enter overseas markets, product laws, how to get their businesses into markets etc. Wu Hsin-hsing explained that OCAC has plans to organize large scale overseas business matchmaking events and help new businesses entrepreneurs visit the US and meet with Taiwanese business people there. In conclusion, Wu encouraged these entrepreneurs to continue their hard work seeking opportunities for future growth and development.