Internationalizing Taiwan has been one of our foremost objectives in recent years. Especially when it comes to startups, a diversity of talents, technologies, and markets can only help accelerate a country's innovative capacities.
For Taiwan, the entrepreneurial spirit has always been alive and well. “Taiwan has never lacked founders,” says AppWorks partner Joseph Chan, referring to the owners of the island’s many small and medium businesses. “The difference is that now more people recognize the value of the digital economy.”
Indeed, over the last decade with the advent of mobile and increasing ubiquity of the internet, local startups have proliferated, and along with them an end-to-end ecosystem with multiple pillars of support including funds, media, bootcamps, co-working spaces, and community groups.
At AppWorks, we've been at the forefront of that movement, now with 376 startups and over 1,100 founders in our ecosystem. It was only a few years ago that our batches comprised primarily of domestic startups. Now with the emergence of frontier technologies such as AI, blockchain, 5G, and AR/VR, we see each successive batch catering to more and more international startups--upwards of 70%--all looking to tap into Taiwan's quality (and affordable) talent pool and sizable digital economy.
It's no wonder why leading blue-chip tech companies like Google, Amazon, Microsoft, and IBM have all established some sort of R&D hub in the country over the last 2 years.
Moving forward, Taiwan's role of a technology hub will grow even more critical, particularly as regions like Southeast Asia undergo widespread digital transformation and look to embrace cutting-edge technologies.
-Jun Wakabayashi
Analyst, AppWorks
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In its latest move to position Taiwan as a leading AI R&D hub, the Taiwanese government has recently announced plans to build an AI-focused business park to foster synergies among cutting edge startups, while also cultivating stronger ties between industry and academia.
This shouldn't come as a too big of a surprise as many western tech giants like Google, Microsoft, IBM, and Amazon have all pledged to establish an AI R&B presence in the country in some way, shape, or form in the last 2 years.
The subsequent explosion of data and technology over the last few years has suddenly turned Taiwan's sizable talent pool into a technical gold mine for companies looking to hire top notch engineers without breaking the bank.
Effectively implementing an AI strategy requires on-boarding key hires across various competencies including research, engineering, production and strategy. Luckily, given recent initiatives on both the public and private side, Taiwan been steadily building up a hefty supply of data scientists and engineers, many of which are building upon their existing capabilities in software or hardware engineering.
For founders, this means a legion of skilled workers ready to help support the deployment of AI in line with established business objectives, with the ultimately hope of positioning the tool as a key differentiator among competitors.
-Jun Wakabayashi
AppWorks, Analyst