Taipei: The Ministry of Economic Affairs on Thursday released Taiwan's first white paper on the country's startup environment and ecosystem. In a statement, the ministry detailed that as of Dec. 31, 2024, 9,576 Taiwanese companies were listed on FINDIT, a government-backed startup information platform.
According to Focus Taiwan, the diverse products and services offered by these startups illustrate the robust foundation the Taiwanese government has laid for entrepreneurship. As per Taiwanese regulations, a startup is defined as a business with a paid-in capital of less than NT$100 million (US$3.02 million), employing fewer than 200 employees on a regular basis, and established for less than eight years.
The companies listed on FINDIT span a broad range of industries, including healthcare, media and entertainment, food and beverage, consumer goods, hardware manufacturing, and software. The most rapid growth has been observed in fields related to digital solutions and transformation, particularly those involving artificial intelligence (AI), software, energy, sustainability, and the environment.
The ministry highlighted the government's targeted support for strategic areas such as digital transformation, healthcare, semiconductors, and AI. Investments have favored energy, biotechnology, and healthcare startups, with green energy, sustainability, and carbon reduction businesses witnessing the largest increase in funding. Minister of Economic Affairs Kuo Jyh-huei noted in the white paper's prologue that in 2023, energy startups attracted US$1.071 billion in investments due to increasing demand for energy-saving, power storage, and power management solutions.
Biotechnology and health businesses in Taiwan secured US$564 million in funding in 2023, as reported by FINDIT data. The ministry emphasized that Taiwanese startups generally prioritize research and development, with nearly 70% employing technical staff and focusing on technology development as their core business.
The white paper also outlines the government support available to entrepreneurs, including subsidies, loans, investments, and assistance in attending trade events.