AI startups in Taiwan – bright future with government support
In recent years, one country is making the right steps with AI in focus. Taiwan. Once leading supplier of the majority of world’s laptops, Taiwan is making a big comeback to the technology scene with software. With the full right – artificial intelligence is in focus for new technology companies.
Just recently, in June 2020. Taiwan Vice Minister of Economic Affairs, Lin Chuan-Neng, said that government will invest in incentive to bring to island foreign investment and support advancing of the new technology opportunities for Taiwan. Program will focus on artificial intelligence, 5G and semiconductors, with expectations that over 6,300 jobs a year will be created.
Hard working, well educated, focused and innovative, young companies in Taiwan make a big step into the future. Next to startups, even a Taiwanese big players, such as HTC also working on an innovate AI solutions. Very welcome is to see that great support is given by Taiwanese Government, and this is the key reason why we believe the future is bright for Taiwanese development in the AI area, as regulations, privacy and data management will be very important components of any global AI eco-system. Therefore with Government involvement, Taiwanese companies can look to support from many angles and freely create open market for innovation, whcih is not available in some other countries.
Another good news is that you don’t have to search hard to find details about AI in Taiwan. In April of 2020. Netherlands Enterprise Agency published 55 page study “Artificial Intelligence; an overview of policies and developments in Taiwan” which you can read from their website – and present very comprehensive study that I greatly recommend. Report list budgets and development infrastructure with specific policies related to AI development in Taiwan, including ‘Taiwan AI Action plan” which intend to train 10,000 pioneers in intelligent application by 2021. as well as 1,000 high-caliber talents. Funding is readable available to startups for several years now, as news about technology unicorn companies are well tromped in media worldwide. For now Taiwan don’t have unicorn startups, but question is will one arise soon. Interesting articles from Findit suggest that could be just a matter of time. By my opinon to grow unicorns, culture and people are the main essence of the company and I personally love Taiwanese culture and respect it a lot. To become truly global company – expansion depends on the right products-market fit, which is timely placed in demographic movements. For sure AI is hot topic right now and its very possible that Taiwan can produce unicorn, what is need is bold strategic view to global extension, and products or services which cover the emerging thirst in the market. Currently eCommerce is defiantly on huge spike due to change in customer behavior. While biotech and innovative well-being solution’s have a great potential due to unfortunate pandemic (recent example is deep01).
Currently Appier are the most founded of AI startups in Taiwan with $160M raised. Appier is focused on bringing AI solutions to marketing and advertising which can well align with boost in eCommerce sales. With clients such as Google, Rakuten and Carrefour, we can expect that Appier will continue to attract new customers and increase its value. For list of other AI startups and their funding, you can check this Crunchbase list and for news on Taiwan technology and startups good source of information if Tech in Asia website.
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JARVISH – creators of amazing AR and AI devices, including amazing JARVISH X motorcycle helmet that kick-off on kickstarter.
Jarvish.com
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Appier – marketing AI platform helping brands increase customer engagement through more efficient campaigns. As mentioned, Appier have impressive line of clients and it’s know as Taiwanese best founded AI company with $160M raised from 2012.
Appier.com
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Perfect Corp providing innovative shopping experience through AI and AR apps. Famous products is YouCam app, which helps millions of women around the world trying new markup, hair colors and other beauty products.
https://www.perfectcorp.com/business
Perfectcorp.com
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Viscovery is another interesting AI company from Taiwan, providing smart visual technology used for interactive shopping and visual search, together with advanced AI analytics about customer behavior.
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Taiwan definitely have the right formula with appropriate funding, Government support, the right culture and talented people within startup scene. Question is who will be the brave one to set sails on a global expansion – to become the poster-startup for Taiwanese AI industry – and without doubts the first Taiwanese technology unicorn.
We at Mission.AI intent to open an office in Taipei in the next several months, therefore making it our base of exploring AI developments in Taiwan and the whole of Asia too. We are looking forward to interviews and podcasts with AI startups, therefore this is just a first of our articles about AI in Taiwan.
