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2016: Taiwan creates Asia's Silicon Valley

On December 25, 2016, it became known about the construction of an analogue of the American Silicon Valley in Taiwan. To implement this project, a special headquarters was opened in Taoyuan.

It was called the "Administrative Center for the Implementation of the Asian Silicon Valley Plan." The main tasks of this facility were the promotion of startups in the field of the Internet of Things (IoT) and innovative technologies in industry, stimulating the economic development of Taiwan by integrating relevant local and international sectors, as well as stimulating industrial transformation in Taiwan, said Vice President Chen Chien-jen.

The opening ceremony of the "Administrative Center for the Implementation of the Asian Silicon Valley Plan" in Taoyuan City (Taiwan), December 25, 2016.

The Taiwanese government intends to pursue policies that promote the growth of talented companies, create a more favorable business environment, finance and strengthen the interaction of local startups with global corporations.

In addition, the authorities are going to create "one window" service centers, help with the integration of R&D resources and take part in the formation of IoT standards and certification processes in order to reduce the investments and time costs necessary for startups without compromising the quality of work.

The Asian Silicon Valley project will focus Taiwan on three major programs: smart technology in logistics, transportation and healthcare. The country seeks to make a 5 percent contribution to the development of the global IoT industry and create more than 100 new startups or research centers, as well as three international companies and two investment funds.

The plan to build Asian Silicon Valley will be implemented between 2016 and 2023. The total budget was not disclosed, but it is known that the state allocated more than $350 million for 2017 for the development of Internet infrastructure, mobile services, e-commerce and other areas related to the new project.^[1]

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