2023.06.14
Nick Bastone
Tony Wang is seeking innovation in Taiwan’s startup ecosystem. Image: Minnie Ang
We believe that Taiwan is an international powerhouse when it comes to supply chain and manufacturing for major tech companies. But can its startup ecosystem be just as strong?
For the third straight year, 500 Global is partnering with the government-backed Taiwan Tech Arena (TTA) to bolster the startup ecosystem in the country. Through a program comprising a week-long bootcamp and an opportunity for 12-weeks of mentorship, 500 Global is deepening ties to the country. The bootcamp — which takes place from July 24-28 in Taipei — will include 20 startups and it aims to provide founders with best practices for running early stage businesses.
They can develop a grand vision that may go beyond what they initially thought was possible.
Tony Wang
Managing Partner, 500 Global
Managing Partner Tony Wang said startup advice around fundraising, user growth, international expansion, and more may be “really hard to come by” in certain parts of the region. For some founders, he explained, the program may be one of the few places they can access such mentorship and coaching opportunities.
“We hope to inspire founders and give them different perspectives on what they’re building so they can develop a grand vision that may go beyond what they initially thought was possible,” he said.
500 Global made its first investment in Taiwan in 2012, and since then, Wang said the firm has been encouraged by successes in the country like the recent exit by CYBAVO, a cybersecurity company.
There are always opportunities for innovation.
Tony Wang
Managing Partner, 500 Global
Wang believes the entrepreneurial spirit that led to Taiwan’s dominance as a critical part of the global technology supply chain can translate into startup success in the modern startup era.
“There are always opportunities for innovation,” he said. “But I believe that when new platforms or new technologies get developed, it actually becomes a time for innovation to accelerate.”
As for feedback from past program participants, Wang said founders often tell him they wish they would have gone through the program sooner.
“The biggest inertia to overcome is the decision to start a company,” Wang said. “If you can do that, we’re here to help you go as fast as you can.”
500 Global and TTA are seeking companies from all sectors to apply to the bootcamp. Are you interested in applying to the 500 Global Taiwan Startup Program with TTA 2023? The deadline for applications is June 25. Apply today!
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