Taipei, The Canadian Technology Accelerator (CTA), a project to help connect Canadian technology companies to the local market, launched on Wednesday in Taiwan.
Speaking during the launch ceremony in Taipei, Canada's top envoy to Taiwan, Jordan Reeves, said the CTA project is the largest single commercial project funded by Global Affairs Canada in Taiwan to date.
"The initiative aims to make both Canada and Taiwan's start-up and innovation ecosystems more successful," he noted.
According to the Canadian Trade Office in Taipei (CTOT), the de facto Canada embassy in the country, the CTA initiative was launched in 2009 by the Canadian government to provide Canadian companies better access to resources and contacts, allowing them to engage with local partners and grow internationally.
Sarah Taylor, Director General at Global Affairs Canada, who is visiting Taipei for the launch and annual Canada-Taiwan economic consultations which start on Thursday, said Taiwan's well established global supply chain and strengths in innovation and commercialization make it an ideal partner for Canadian companies looking for strategic partnerships.
The CTA in Taiwan is the first of its kind Canada has launched outside North America. Currently, CTAs operate in Boston, New York, San Francisco and Silicon Valley. Focal areas include clean-tech, digital technologies, bio-tech and digital health technologies.
The CTA in Taiwan is one of four new CTAs that are part of Canada's economic diversification strategy toward Asia. Other new CTAs will be opened in Tokyo, Hong Kong and Singapore in the near future, according to the CTOT.
From 2013-2018, more than 495 companies have participated in CTAs, resulting in increased sales. According to the CTOT, CTA participants have so far reported a combined total of over US$384 million in capital raised.
Source: Focus Taiwan News Channels