How New Taipei Supports and Assists the SMEs
New Taipei City Government strives to increase the competitiveness and to foster innovation of small and medium-sized enterprises (SMEs) based in New Taipei City.
The regional Small Business Innovation Research (SBIR) Program subsides SME a maximum $33,000 USD to facilitate innovative research projects that increases its global competitiveness. Examples of its efficacy include successfully helping traditional mold casting factories produce high value-added orthopedic materials and transforming manufactories from the B2B model to B2C model.
In addition, a team of experts and scholars from 26 academic and research institutions (SMEs Support Team) has been invited to support and counsel SMEs in dealing with issues concerning technical matters, management, and product marketing strategy.
Having observed the challenges start-ups are facing due to a lack of funding, venues, personal networks and technical support, the city government set up InnoSquare in 2014 to provide young entrepreneurs with the opportunity to actualize their business ideas. By offering mentoring, networking and fundraising opportunities, InnoSquare has since hosted 69 start-ups through organizing 700+ pitching and matchmaking events and has successfully raised a total fund of over 1 million USD.
In a bid to attract investors, the City has offered public land resources in open biddings. This innovative approach aims to generate business opportunities in culture and creative industries, tourism, and large scale commercial development in the City.
Adopting a tailored-made approach, One-stop Investment Service provides interested investors with administrative assistance. For 3 consecutive years since 2014, New Taipei City has been ranked top in Taiwan’s “Investment Promotion Performance Evaluation”, praised for providing an advantageous environment for business promotion through the joint effort of the many administrations within the city government.