Department of Economic Development

In a bid to fortify the city's position as a thriving hub for innovation and entrepreneurship, Taipei City Government's Department of Economic Development announces a multifaceted approach aimed at supporting startups in overcoming challenges related to fundraising, talent acquisition, and international expansion.

Solution 1- Fund Supports 

The city has embarked on an ambitious plan to bolster financial backing for startups through comprehensive subsidy program, ‘Subsidies and Incentives for Taipei Industry (SITI)’, building on the success of grants provided to SMEs over the past decade. In September 2023, parts of program, including "Innovation Acceleration" and "Theme-based R&D", are expanded to stimulate industrial innovation and research and development.

In tandem, regulatory frameworks will be revisited to incentivize investments, attract global talents, and cultivate an environment conducive to high-quality employment opportunities. The city also plans to attract corporate headquarters, fostering collaboration between the public and private sectors. Qualified startups recommended by venture capital firms or accelerators can apply for a three-stage subsidy covering Research and Development, innovation acceleration, and branding.

Solution 2- Talent Attraction

To facilitate international collaboration, startup resources will be shared with sister cities and those with signed memoranda of understanding, allowing international teams to access state-owned innovation bases and the co-working spaces, as well as startup services from StartUp@Taipei and ITO.

Besides, the city's commitment to nurturing startup talent extends to campuses, where a startup services program is currently underway. In 2023, the city cooperated with National Taipei University of Technology and National Taiwan University of Science and Technology, bring startup services to campuses. In 2024, there will be more startup-related program and startup-internships for the youth, aiming to bridge the gap between theoretical knowledge and practical application.

Moreover, the city also announces the intention to establish a state-owned accelerator, designed to provide comprehensive support for overseas startups looking to establish themselves in the city. This initiative will offer a one-stop solution with customized services to facilitate seamless business initiation.

Solution 3- Market Expansion

To propel startups and enterprises into new markets, the city introduces a procurement platform facilitating collaboration between startups, SMEs, and government agencies. Through procurement matching, marketing efforts, and incentive structures, the platform aims to catalyze business opportunities and encourage active participation in the procurement market.

In a bid to amplify global exposure, the Department organizes and leads startups in international exhibitions, exemplified by a delegation's visit to Thailand in August 2023. Following on it, the "One-Pass" initiative, set to launch this year, will support startups in utilizing renowned co-working spaces abroad, fostering engagement with local ecosystems and creating opportunities for overseas business development. The city is poised to become a global beacon for startup innovation and collaboration with these comprehensive initiatives in place.

For more information, please visit our website：

• Invest Taipei Office (ITO)
• StartUP@Taipei