Startup Terrace, an innovation center supported by the Small and Medium Enterprise Administration (SMEA) of Taiwan's Ministry of Economic Affairs (MOEA), partners with open innovation company SOSA to run a joint accelerator for Taiwanese startups.
NEW YORK, Feb. 23, 2022 /PRNewswire/ -- Taiwan's Startup Terrace and SOSA are launching the IP² Scale Out Program to provide seven Taiwanese startups with the tools needed to advance their international expansion goals. The first IP² Scale Out cohort will support IoT startups, highlighting one of the key strengths of Taiwan's tech ecosystem.
Startups will participate in a series of workshops which will provide insight on how to successfully expand into the U.S. market and find potential opportunities for investment from American VCs. Supporting a diverse set of IoT startups, the 14-week accelerator will conclude with a month-long residency at SOSA's New York City office.
Taiwan's government is promoting innovation in its ecosystem and plans to invest $1 billion by 2023 to increase the ecosystem's international exposure, promote global collaborations, and position Taiwan as a startup hub in East Asia. In addition to IP²'s current efforts to promote Israeli companies in Taiwan, the joint accelerator with SOSA marks yet another significant milestone. "We are now accelerating the exposure and activity of Taiwanese startups to the global and Israeli ecosystem," says Dr. Gary Gong, Chairman of i2i.
"Taiwan's tech ecosystem is a global leader in innovation. Through our partnership with i2i, SOSA will support Taiwanese tech companies in the critical step of U.S. market validation," says Uzi Scheffer, CEO of SOSA.
ABOUT INNOVATION TO INDUSTRY (i2i)
i2i grew out of Taiwan's largest IT research institute. Since 2000, i2i has been one of Taiwan's four government-approved organizations which run incubators, and it runs Taiwan's largest incubators - Nan-Kang Software Incubator and Kao-Hsiung Software Incubator.
i2i has founded, and manages, a technology ecosystem supporting and connecting stakeholders within the Taiwanese tech ecosystem and operates the IP² LaunchPad program. Taiwanese Innovation Program IP² LaunchPad accelerates the entry of Israeli companies into the far eastern markets and Taiwan's ecosystem. The program operates at the Startup Terrace Innovation Center, which is supported by the Small and Medium Enterprises Administration (SMEA), Ministry of Economic Affairs (MOEA) in Taiwan. Rani Shifron — CEO of Israeli consulting firm Healthier Globe, representative of i2i, and head of the program in Israel. i2i's Website: https://www.i2i.com.tw/en/index/
SOSA is a global open innovation company that builds strong relationships within the tech ecosystem and even stronger cross-vertical open innovation programs. By identifying advanced technology solutions and innovative models, SOSA works with corporations and public entities to implement solutions that lead to business growth and successful digital transformation. SOSA's partners include corporations such as HP, Schneider Electric, SwissRe, RBC, Rafael, Tokio Marine and governmental entities such as Austrade, CNI and JETRO. For more information, visit https://www.sosa.co/