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Taiwanese startups win big at national competition, securing millions in funding

From Liberty Times · () Chinese

Translated from Chinese and summarized by DistantNews. Read the original for the full story.

At a glance

News Official statement New plan
  • Taiwan's "Entrepreneurship Alliance Competition" concluded with 9 winning startup teams receiving significant funding.
  • The event, organized by the National Development Council (NDC), attracted over 2,800 teams and awarded over NT$300 million in support funds.
  • Winning teams focused on AI, biotech, and green sustainability, reflecting Taiwan's shift towards market application and innovation.

Taiwan's vibrant startup ecosystem was on full display at the "Entrepreneurship Blossom - Entrepreneurship Alliance Competition" finals and awards ceremony. Organized by the National Development Council (NDC), the competition saw 9 promising startup teams emerge victorious from an initial pool of 2,805 entries.

Executive Yuan Premier Cho Jung-tai presented the top three "Presidential Awards," each receiving NT$10 million, and six "Premier Awards," each granted NT$6 million in startup support funds. The total prize money exceeded NT$300 million, underscoring Taiwan's commitment to fostering innovation.

Investing in innovation and entrepreneurship is investing in the nation's future.

· Lai Ching-tePresident Lai Ching-te's philosophy, as cited by Premier Cho Jung-tai, emphasizes the strategic importance of supporting new ventures for Taiwan's long-term development.

Premier Cho highlighted Taiwan's strong startup momentum, noting that the number of startups has surpassed 10,000, with annual fundraising exceeding NT$100 billion for the first time. He also pointed to Taiwan's improved ranking in the "2026 Global Startup Ecosystem Index" by StartupBlink, now within the top 20 globally, aligning with President Lai Ching-te's vision of investing in innovation as an investment in the nation's future.

The competition, which spanned nine months and included extensive mentorship and training, focused on key growth areas. Artificial intelligence applications, biotechnology, and green sustainability were particularly strong, indicating a trend of Taiwanese startups moving from pure R&D towards market application and industry integration. The winning teams, distributed across northern, central, and southern Taiwan, showcase the island's widespread innovative energy. The NDC plans to provide ongoing support, including access to capital and international networks, to help these startups scale and compete on the global stage.

The Entrepreneurship Blossom - Entrepreneurship Alliance Competition is one of the largest and most significant national-level startup competitions in recent years.

· Yeh Chun-hsiangThe NDC Minister highlighted the scale and importance of the competition in nurturing Taiwan's startup ecosystem.
About this summary

Originally published by Liberty Times in Chinese. Translated, summarized, and contextualized automatically by DistantNews, with a note on how the source frames the story. Not individually reviewed before publishing. How this works.

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