500 Startups and Taiwan Tech Arena Join Forces to Scale and Globalize Taiwan’s Startup Ecosystem

The global venture capital firm has partnered with the Ministry’s Taiwan Tech Arena to raise the local ecosystem’s profile on the global stage

TAIPEI, TAIWAN – Media
OutReach – 21 June 2021 – Global venture capital firm 500 Startups has partnered with Taiwan Tech Arena (TTA)
under the Ministry of Science and Technology of Taiwan. The two organizations
are conducting the TTA Accelerator
by 500 Startups (“Program”), which aims to accelerate the development of local
and international startups in Taiwan, leading to the international growth of
the startup ecosystem in the region.

The inaugural
Program is part of TTA’s larger objective to further scale up Taiwan’s startup
ecosystem, which has been ranked 7^th in the Asia-Pacific region and
30^th globally in terms of ecosystem strength^[1]. The Program is also
designed to improve outcomes for Taiwan-based startups through capital
commitment.

“As we enter a
new era that prioritises greater innovation, inclusiveness and sustainability
for all people and businesses, Taiwan must now harness the transformative power
of technological innovation. As with Taiwan’s prior technological achievements,
this can only be done by improving the synergy between local and international
ecosystem stakeholders. With 500 Startups being our partner for the Program, we
are poised to onboard the right talents into our country’s startup hub and
subsequently raise the ability of Taiwan-based innovations to make a real
difference on the global stage,” said a TTA representative.

“Given 500
Startups’ experience building technology ecosystems around the world, we will
develop an accelerator program specifically designed to help local startups
think and go global, and also to bring some of the world’s most innovative
startups here to foster collaborative innovations that can create global
impact. We are honoured to have the support of the Ministry of Science and
Technology and Taiwan Tech Arena as we embark on this journey of scaling
Taiwanese startups.” said Tony Wang,
Managing Partner, 500 Startups.

Under the
Program, 500 Startups will be running a series of workshops aimed at
introducing 500 Startups’ global growth curriculum to local and international
startups, and will be selecting 20 growth-stage startups to participate in an
8-week long accelerator program focusing on growth and globalisation. As is
customary for 500 Startups’ programs, participating startups will enjoy ongoing
access to 500 Startups’ global network of mentors, founders, and industry
stakeholders. Adding to the globalization aspect of this program is the market
access component, as 500 Startups and TTA intend to also select international
startups that are interested in expanding in Taiwan to participate in this
program.

Applications for
the Program will open on 15 July 2021. Information will be shared on the
website here. Startups interested in receiving an exclusive look at
what it’s like to be in a 500 Startups program and tips when applying can
register for the upcoming workshop series here.