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Neihu, Nangang to Serve as Incubators for Entrepreneurship

Mayor Ko Wen-je announced that both Neihu Technology Park and Nangang Software Park will serve as bases to foster entrepreneurship and innovation. He made the remarks at the 2015 TIEA General Assembly and Industry Forum on March 25.

Information sessions with regard to the plan are expected to take place in late April, late June, and late August. The city government will hold rounds of discussion with the participation of entrepreneurs and investors to explore cooperation opportunities.

According to Ko, Taipei prides itself in being a hotbed for business activity, offering a friendly environment for startups such as accessibility to subsidies. Following the founding of ‘Smart City Commission of Taipei,’ visits will be paid to industry players located in Neihu and Nangang districts to solicit support. An estimated 10 to 18 venues will be selected in Neihu as business incubators.

Citing the words of a professor of venture capital industry at Stanford University, Ko reckoned that the most important thing to help youths start new businesses is preparing them for possible failures without losing faith. He added that the City sets aside approximately NT$200 million to help fund young entrepreneurs. The fund, though limited, allows young people to pursue their dreams with support from the government.

The mayor also seeks to emulate the success of Stanford University, which takes into consideration what the industry (Silicon Valley in this case) really needs and offers classes accordingly. With this in mind, the City plans to invite successful entrepreneurs to share their experiences with aspiring youths.