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iTech, Taiwanese Startup, Received 5 Million USD Order on the First Day of VivaTech 2019

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2019-05-18

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iTech, Taiwanese Startup, Received 5 Million USD Order on the First Day of VivaTech 2019

2019-05-18

News

For the first time, Taiwan’s Ministry of Science and Technology led by Deputy Minister Yu-Chin Hsu brought ten innovative startups to Viva Tech 2019 in France, receiving an unprecedented order of 5 million USD on the first day of the exhibition. La French Tech, France telecommunications company Orange, European Enterprise Network, Taipei Representative Office in France, Techstars, Y Combinator, Schoolab were all invited to enhance the startup collaboration between Taiwan and Europe.

Ten Taiwanese Startups at Viva Tech, receives praise from French E-mobility industry

VivaTech is one of the largest tech exhibitions in the world. This year the expo attracted 9000 exhibitors from 125 countries, and over 1900 investors. The Taiwan Tech Arena (TTA) startup hub, started by Taiwan’s Ministry of Science and Technology, lead ten Taiwan teams from TTA resident accelerators, Taiwan Startup Institute, and National Chiao Tung University accelerator – IAPS, to the exhibition. Of these teams, the wireless positioning solution from startup iTech received an order of 5 million USD from France autonomous parcel delivery company TwinsHeel on the first day of the exhibition.

Taiwan’s Technology to be Key Component of the Global Startup Ecosystem

The Taiwan’s Ministry of Science and Technology Deputy Minister Yu-Chin Hsu mentioned at the opening ceremony, “The Taiwanese and French governments have a shared vision where startup technology merged with large enterprise collaboration can increase the country’s economy and opportunities. Thus, the Ministry of Science and Technology launched Taiwan Tech Arena (TTA) last year, focusing on artificial intelligence, software and semi-conductor, which allow Taiwanese research to commercialize, and collaborate with Taiwan Technology Park, venture capitalists, and accelerators, to build an ecosystem with international talents and Taiwanese corporates. TTA has fostered more than 100 entrepreneurs with half of the teams from international backgrounds. In international exhibitions such as CES and VivaTech, TTA and the Taiwan startup ecosystem announced to the world that Taiwan is going global to expand opportunities in several industries, and to enhance Taiwan’s value in the startup ecosystem.”

Dr. Chih-Chung Wu, Taiwan Representative at the Taipei Representative Office in France added that, “France is one of Taiwan’s strongest partners in the technology industry. Taiwan’s Ministry of Science and Technology has always had close collaborations with France’s Ministry for the Digital Sector. Taiwan procured 14 airbuses A350 two years ago, 17, last year, and a further 29 just last month. I believe the startup collaboration will be beneficial in building an international startup ecosystem.”

The Voice of Taiwan for Taiwan Technology in the Global Ecosystem

TTA launched in June 2018, and has already hosted international organizations such as French Tech Taiwan and Canadian Technology Macerator (CTA), and international accelerators MOX from SOSV, Sparklabs, IAPS and BE Accelerator, fostering over 100 startups. TTA also provides coaching sessions through a deep mentor network from Silicon Valley, giving teams practice opportunities at Pitch Night sessions to expand their message worldwide.

TTA is actively helps to improve the country’s technology and standing in artificial intelligence, software and semi-conductor industries, attracting interest from venture capital, and increasing Taiwan’s voice in the global startup ecosystem.