The nation’s angel investment fund had supported 202 start-ups as of last month, in keeping with the government’s effort to encourage corporate innovation and transformation, National Development Council Minister Kung Ming-hsin (龔明鑫) said yesterday.
The government could double the fund from NT$5 billion to NT$10 billion (US$161.9 million to US$323.7 million) if necessary, to shore up start-ups that usually have difficulty securing financial backing, Kung told a news conference about the progress of the fund.
Angel investors usually give support to start-ups at the initial stages, when risks of failing are relatively high and when most investors are not prepared to back them.
Photo: CNA
The council has approved NT$3.16 billion of angel investments over the past four years, while the private sector injected another NT$8.82 billion, raising overall investments to NT$11.98 billion, Kung said.
The angel funds first take the form of a “subsidy” and later evolve into financial investments or equity stakes that allow public and private investors to grow with entrepreneurial ventures, he said.
The recipients of the funds from the National Development Fund span sectors such as information and communication, biotechnology and medicine, electrical machinery, green energy and environmental protection, chemical materials, the space industry, community regeneration, and cultural and creative arts, Kung said.
The funds have helped to advance the government’s policy to support the nation’s six major strategic industries, explaining why investment amounts have shown positive growth for start-ups in the semiconductor, renewable energy, information security and precision medicine sectors, he said.
The council has made wise use of the National Development Fund, which was established with NT$30.9 billion in 1973 and has accumulated more than NT$330 billion of returns, such as through taking profits from its investment in Taiwan Semiconductor Manufacturing Co (台積電), officials said.
The fund generates about NT$27 billion in returns each year, they said.
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