Two conditions needed for innovation: Tsai

President Tsai Ing-wen spoke on Monday at an international forum on innovation, which kicked off in Taipei. She said there are at least two conditions which are needed in order for innovation to occur.

First, there needs to be an open and mutually-assisted social media [platform] that links different innovation teams, technicians and investors. Second, there needs to be enough space for experimentation in order to allow innovation to have the opportunity to be used practically," said Tsai.

Tsai said innovation is valuable because it can help boost economic development, create social values and turn conflicting elements into complementary ones.

Tsai said innovation is the cornerstone of the sustainable management of a business, and can therefore contribute a lot to society. She said that several businesses, through innovation, have taken on social responsibility, helped reduce environmental risks, and produced long-term benefits.

Tsai also said Taiwan badly needs more momentum for innovation, especially in the areas of medical care, new energy, and the transformation of rural areas.

Source: Radio Taiwan International