The Financial Supervisory Commission (FSC) yesterday announced that a new stimulus plan — which aims to gain the backing of the financial sector to boost the real economy — would be completed and submitted to the Cabinet for review before the end of this month.
The plan is to identify funds, knowledge and consultation, as well as hardware — such as equipment office space — to boost industrial transformation, innovation and job creation, it said.
In particular, the plan would create a NT$1 billion (US$31.92 million) fund aimed at boosting innovation among industries, to be funded by the commission’s affiliated organizations, including the National Credit Card Center of the Republic of China (聯合信用卡中心), the Joint Credit Information Center (金融聯合徵信中心) and the Taiwan Insurance Institute (保險事業發展中心).
Another NT$1 billion angel investment fund would be created to help cultivate start-ups established less than three years ago and operating in fields aligned with the government’s focus.
The funds would be provided by financial sector trade associations, such as the Taiwan Securities Association (券商業同業公會) and the Chinese National Futures Association (期貨商業同業公會).
The commission has set an initial goal to raise NT$200 million for the two funds.
FSC Vice Chairman Kuei Hsien-nung (桂先農) said the funds would help develop the government’s new plans to foster “green” energy, software, biotechnology, national defense and “smart” robotics, but declined to provide further details.
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