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
TAIWAN – 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 7th in the Asia-Pacific region and 30th 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.
About 500 Startups
500 Startups is one of the most active global early-stage venture capital firms. Since its inception in 2010, 500 Startups has invested in over 2,500 companies across 77 countries. Its 140-plus team members are located in more than 15 countries to support 500 Startups’ global portfolio. Notable investments include Credit Karma, Canva, Talkdesk, Intercom, GitLab, Grab and Bukalapak.
500 Startups also helps develop innovation ecosystems by partnering with governments and foundations to build tailored accelerator programs, and with corporations to build internal venture building capacity and to undertake external innovation partnerships with startups. 500 Startups also trains investors through educational programs. 500 Startups has run more than 50 growth and accelerator programs for over 1,500 startups worldwide.
About Taiwan Tech Arena (TTA)
Taiwan Tech Arena (TTA) is a deep tech startup ecosystem building program bringing academic/R&D talents, startups, accelerators, corporate and investors under one roof.
Located in Taipei Arena with 30,000+ sq ft co-working and event space specifically designed for tech innovation, Taiwan Tech Arena aims to cultivate deep technology entrepreneurship, foster commercialization of innovation and build a vibrant cross border deep tech startup ecosystem.
