The National Development Council (NDC) yesterday said that it plans to spend NT$500 million (US$16.45 million) on the renovation of the site housing the Taipei Municipal Stadium and future operation of the area for building a cluster of startup companies.
The state-run National Development Fund (NDF) is set to appropriate NT$450 million for renovating the area, while another NT$50 million is scheduled to be used for operating the site, council deputy director-general Lin Der-sheng (林德生) said yesterday.
Startup companies would be able to rent space in the area in August or September next year, after the renovation is completed, Lin said.
The spending is part of the government’s effort to help local startups, named “HeadStart Taiwan,” according to the council.
Meanwhile, the government plans to ease regulations for startup companies on hiring foreign employees, after the council establishes a legal definition of a “startup company,” Lin said.
The government would allow startup companies with any amount of annual revenue to hire foreign employees, who do not need to have work experience of more than two years, according to Lin.
However, the plan would not do away with the requirement of paying a minimum wage of NT$47,971 a month to a foreign employee, the council said.
The project is set to also allow startup companies to issue convertible bonds and preferred stocks that give the holders more voting rights than common stocks, Lin said.
The council yesterday also said that it plans to set up a committee for policy advice to help local startups today. Taiwan Cement Corp (台泥) chairman Leslie Koo (辜成允), former head of Google's China operations Lee Kai-fu (李開復), Wayne Huang (黃耀文), the founder and CEO of Web security service Armorize Technologies Inc (阿碼科技), and Taipei-based mobile app startup Gogolook Co (走著瞧) cofounder Jeff Kuo (郭建甫) are scheduled to be among the members of the committee, according to people familiar with the mater who declined to be named.
NEW IDENTITY: Known for its software, India has expanded into hardware, with its semiconductor industry growing from US$38bn in 2023 to US$45bn to US$50bn India on Saturday inaugurated its first semiconductor assembly and test facility, a milestone in the government’s push to reduce dependence on foreign chipmakers and stake a claim in a sector dominated by China. Indian Prime Minister Narendra Modi opened US firm Micron Technology Inc’s semiconductor assembly, test and packaging unit in his home state of Gujarat, hailing the “dawn of a new era” for India’s technology ambitions. “When young Indians look back in the future, they will see this decade as the turning point in our tech future,” Modi told the event, which was broadcast on his YouTube channel. The plant would convert
Nanya Technology Corp (南亞科技) yesterday said the DRAM supply crunch could extend through 2028, as the artificial intelligence (AI) boom has led the world’s major memory makers to dramatically reduce production of standard DRAM and allocate a significant portion of their capacity for high-bandwidth memory (HBM) chips. The most severe supply constraints would stretch to the first half of next year due to “very limited” increases in new DRAM capacity worldwide, Nanya Technology president Lee Pei-ing (李培瑛) told a news briefing. The company plans to increase monthly 12-inch wafer capacity to 20,000 in the first half of 2028 after a
Property transactions in the nation’s six special municipalities plunged last month, as a lengthy Lunar New Year holiday combined with ongoing credit tightening dampened housing market activity, data compiled by local land administration offices released on Monday showed. The six cities recorded a total of 10,480 property transfers last month, down 42.5 percent from January and marking the second-lowest monthly level on record, the data showed. “The sharp drop largely reflected seasonal factors and tighter credit conditions,” Evertrust Rehouse Co (永慶房屋) deputy research manager Chen Chin-ping (陳金萍) said. The nine-day Lunar New Year holiday fell in February this year, reducing
New vehicle sales in Taiwan plunged about 37 percent sequentially last month as the long Lunar New Year holiday and 228 Peace Memorial Day holiday cut short the number of working days, along with the lingering uncertainty over import tax cuts on US vehicles, market researcher U-Car said in a report yesterday. New car sales last month totaled 22,043, slumping from 35,073 units in January and down 19.89 percent from 37,515 in February last year, U-Car data showed. Sales of imported luxury cars, led by Mercedes-Benz, plummeted about 45 percent to 3,109 units last month from 5,663 units in the previous month,
RSS