Taiwan has established an office in Palo Alto, one of the principal cities of Silicon Valley in California, aimed at helping Taiwanese technology start-ups gain global visibility, the National Development Council said yesterday.
The “Startup Island Taiwan Silicon Valley hub” at No. 299 California Avenue is focused on “supporting start-ups and innovators by providing professional consulting, co-working spaces, and community platforms,” the council said in a post on its Web site.
The office is the second overseas start-up hub established by the council, after a similar site was set up in Tokyo in September last year.
Photo: CNA
Representatives from Taiwanese start-ups, local businesses and venture capitalists attended a launch event at the Sheraton Palo Alto Hotel on Monday evening, council promotional materials showed.
Speaking at the launch, National Development Council Minister Paul Liu (劉鏡清) said the hub would showcase Taiwan’s strengths in the fields of semiconductors and artificial intelligence (AI), while also helping Taiwanese start-ups connect with global opportunities.
In addition to “nurturing more than 100 start-ups” this year, the hub would also attempt to encourage “at least 2,000 talented individuals” to return to Taiwan, Liu said.
The minister highlighted Taiwan’s key position in the global technology industry, citing Taiwan’s “about 90 percent” market share in the semiconductor industry and “more than 90 percent” market share in the AI server industry.
While global start-up funding declined by nearly 40 percent last year compared with 2023, Taiwan’s start-up funding grew by 10 percent to reach a record high of NT$2.8 billion (US$84.9 million), he said.
Liu also said at the event that US technology company Nvidia Corp would establish its “Asia headquarters” in Taipei, which is expected to employ about 2,500 workers.
Nvidia has not yet announced where it might establish such a site, although Nvidia chief executive Jensen Huang (黃仁勳) had previously indicated that the company was looking for more office space in Taipei.
Also speaking at the launch, Dennis Liu, director of the US hub, said the site is aiming to provide a “bridge” between Taiwan and the US, while showcasing Taiwan’s technology capabilities.
Steven Su (蘇育民), chief executive of Taiwanese AI tech start-up Ubestream Inc (環球睿視), said that the council’s hubs in Palo Alto and Tokyo are “a great blessing” for Taiwanese start-ups.
Su urged the government to provide financial aid to help Taiwanese start-ups mitigate the costs of higher overseas rents, which he said are a heavy burden for new start-ups.
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