The global venture capital firm has partnered with the Ministry's Taiwan Tech Arena to raise the local ecosystem's profile on the global stage
TAIPEI, TAIWAN - 21 June 2021 - Global venture capital firm 500 Startups has partnered with Taiwan Tech Arena (TTA) under the Ministry of Science and Technology of Taiwan. The two organizations are conducting the TTA Accelerator by 500 Startups ("Program"), which aims to accelerate the development of local and international startups in Taiwan, leading to the international growth of the startup ecosystem in the region.
 
The inaugural Program is part of TTA's larger objective to further scale up Taiwan's startup ecosystem, which has been ranked 7th in the Asia-Pacific region and 30th globally in terms of ecosystem strength[1]. The Program is also designed to improve outcomes for Taiwan-based startups through capital commitment.
 
"As we enter a new era that prioritises greater innovation, inclusiveness and sustainability for all people and businesses, Taiwan must now harness the transformative power of technological innovation. As with Taiwan's prior technological achievements, this can only be done by improving the synergy between local and international ecosystem stakeholders. With 500 Startups being our partner for the Program, we are poised to onboard the right talents into our country's startup hub and subsequently raise the ability of Taiwan-based innovations to make a real difference on the global stage," said a TTA representative.
 
"Given 500 Startups' experience building technology ecosystems around the world, we will develop an accelerator program specifically designed to help local startups think and go global, and also to bring some of the world's most innovative startups here to foster collaborative innovations that can create global impact. We are honoured to have the support of the Ministry of Science and Technology and Taiwan Tech Arena as we embark on this journey of scaling Taiwanese startups." said Tony Wang, Managing Partner, 500 Startups.
 
Under the Program, 500 Startups will be running a series of workshops aimed at introducing 500 Startups' global growth curriculum to local and international startups, and will be selecting 20 growth-stage startups to participate in an 8-week long accelerator program focusing on growth and globalisation. As is customary for 500 Startups' programs, participating startups will enjoy ongoing access to 500 Startups' global network of mentors, founders, and industry stakeholders. Adding to the globalization aspect of this program is the market access component, as 500 Startups and TTA intend to also select international startups that are interested in expanding in Taiwan to participate in this program.
 
Applications for the Program will open on 15 July 2021. Information will be shared on the website here. Startups interested in receiving an exclusive look at what it's like to be in a 500 Startups program and tips when applying can register for the upcoming workshop series here. (*).