The National Science and Technology Council (NSTC) provides comprehensive training programs for young entrepreneurs in order to breed research innovation and bring out the value of research achievements. Therefore, NARLabs' Science & Technology Policy Research and Information Center (STPI) was entrusted with running the From IP to IPO Program (FITI) X Civil IoT Taiwan (CIOT) entrepreneurial competition. On Dec. 2, the awards ceremony for this year's second round finalists was held at the Taiwan Tech Arena (TTA). Three teams -- Joint-Viewer (膝望), 奈米飛刀 [Nai Mi Fei Tao], and MindLogic (萃思科技) -- were granted the FITI Outstanding Entrepreneurship Award and will receive corporate sponsorship of NT$1 million in funding. This honor not only recognizes entrepreneurship in high technology, but is also an important cornerstone for startup research teams entering the market.
FITI, which is now in its tenth year, puts a spotlight on startup teams researching cutting-edge technology. It not only continues to identify and nurture promising young entrepreneurs, but also creates a stage for them on which to showcase Taiwan's startup technologies. Starting this year, CIOT joined hands with FITI to nurture promising tech business teams from the angle of civil IoT data applications. The program also drives innovation and entrepreneurial trends in Taiwan's data industry to enhance the social impact of the data economy and create social value.
FITI X CIOT also connects entrepreneurs with professional mentors in various fields and resources from science parks. Teams receive business training, as well as advising on patent strategy, fundraising presentations, and business model refinement to help them grow and develop at different stages. In addition, teams can further network with local and overseas ventures and angel investors so as to provide the best assistance for them as they enter the business world.
This round's teams have displayed excellent innovation and R&D capabilities, carried out their work with enthusiasm, solved market issues with technology, and have bravely and proactively taken their first steps in entrepreneurship. In the first stage, 40 excellent research teams were initially selected. After six months of business model study, in-depth training, and two team evaluations, 10 of the most promising teams were chosen as finalists. The judges ultimately selected three teams for the Outstanding Entrepreneurship Award based on market trends, their technology, and their entrepreneurial determination. These three teams were Joint-Viewer (膝望), 奈米飛刀 [Nai Mi Fei Tao], and MindLogic (萃思科技).
NSTC has always been committed to promoting the development of tech startups. FITI aims to nurture young scholars in tech entrepreneurship and provide them with comprehensive training. The program also continuously encourages the development of new technologies and products and drives teams to engage in technological R&D with both practical and academic innovations. Since its inception in 2013, the program has nurtured 798 startups teams and 3,901 young entrepreneurs, who have established 349 companies. It has also led to over NT$6.65 billion in private venture capital investment, promoting a positive feedback loop of industry innovation in Taiwan, laying an important foundation for the digital transformation of Taiwan's industries, and driving a vibrant domestic market. NSTC encourages teams to begin international deployment of scalable technologies from the very beginning to enhance the influence of Taiwan's technological innovations in the international arena. Teams are also encouraged to leverage future-oriented science and technology and cross-disciplinary resources to solve global problems, as well as maintain positive mindsets to foster sustainable growth.
