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Active Investors and Accelerators in Taiwan Startup Ecosystem
AppWorks
Founded in 2009, AppWorks provides 2 main services to foster the Taiwan startup ecosystem. For the seed-stage startups, AppWorks Accelerator can turbo-charge the startups from zero to one. It has two batches per year. For the growth-stage startups, AppWorks has 3 funds and US$170 million of assets under management. They can go from a US$200K seed round all the way to leading with $10 million into a C round.
As of February 2021, according to the company statistics, there are 395 active startups and 1,331 founders in the AppWorks Ecosystem, and its aggregate valuation has reached NT$310 billion (US$11 billion). Some of the top companies AppWorks has invested in include Carousell, Lalamove, ShopBack, KKday, 91App, iChef, and 17 Live Group. Notably, Uber Technologies, Net Publishing, KuoBrothers, and Mobix have previously gone public.
SparkLabs Taipei
SparkLabs Taipei, established in 2017, is part of the SparkLabs global accelerator network. SparkLabs Taipei runs a 3-month accelerator program twice a year for seed to early-stage startups that have the potential to expand globally. For startups that got selected for the accelerator program, SparkLabs would invest up to $40,000 in all startups in exchange for up to 6% equity of each startup.
As of May 2021, SparkLabs has accelerated 35 startups, and there are over 300 international investors that joined on Demo Day. Some of the top companies invested by SparkLabs Taipei include JustKitchen, MoBagel, Influenxio, FunNow, iDrip, PenguinSmart, TMYTEK, and Kneron.
500 Startups
Founded in 2010 in Silicon Valley, 500Startups is a global venture capital firm that has backed more than 2,500 companies and 6,000+ entrepreneurs in 77+ countries. It has ranked as one of the most active global early-stage VC firms by Pitchbook. 500 Startups have invested in over 30 Taiwanese startups including InfuseAI, PicCollage, and Arc. Foreseeing Taiwan's potential in the software industry, 500 Startups is setting a new office here in Taipei in 2021, and wanting to cover more Taiwanese software startups in their portfolio.
500 Startups have different accelerator programs across the globe and have $600M funds under management. Once startups are invested, they would be invited to the 500 Startups San Francisco Flagship Program to immerse in the startup ecosystem. According to the director of 500 Startups Taiwan, they will start launch programs and workshops locally in Taiwan.
Taiwania Capital
Taiwania Capital was jointly funded by the National Development Council, ITRI Innovative Industrial Technology Transfer Company and the Bank of Taiwan in 2017. The first IoT fund closed its fund-raising in December, 2017, and went on investing in their first company, Ambiq Micro, an integrated supplier of low-power system chips.
By the end of May 2021, the IoT fund has closed its investment distribution in ten American companies and ten Taiwanese companies in total after more than three years; fields covered the main five applications: 5G, Advanced Manufacturing, Enterprise Software, Automation, and Smart Healthcare.
Backed by National Development Council, It has raised, since its foundation in 2017, 4 funds for a combined value of USD$400 million. The key areas in which they invest are enterprise software, autonomous systems, AI, IoT, robotics & drones, among others.
SOSV MOX
MOX, SOSV's "Mobile-Only Accelerator" located in Taipei, was established by Silicon Valley venture capital firm SOSV. Recognized by Pitchbook as the world's most active seed investor in 2020, SOSV is a multi-stage venture capital firm that operates startup accelerator investment programs. At the close of 2020, SOSV had more than 1,000 portfolio companies and US$855 million in assets under management.
Each batch in MOX is 6 months. According to the MOX managing director William Bao Bean, they are seeking internet and mobile-first startups. Once the startups join MOX, they will get a USD$100K-$120k investment, and the opportunity to be guided by over 350 mentors from MOX, but most importantly, the startups can be promoted to the MOX ecosystem that has over 100 million smartphone users. They had held their 10th demo day in 2021. Some of the top companies joined MOX accelerator including BigGo and ELSA.
CDIB Capital Innovation Accelerator Fund
CDIB Capital Innovation Accelerator Fund, established in 2017, is backed by CDIB Capital Group which has 60 years of experience in venture investing. With over USD$30 million in asset under management. They provide angel and A-round venture capital financing, and their investment strategy targets Taiwanese startups on cloud computing, internet of things (IoT), mobile internet and next-generation e-commerce.
The CDIB Capital Innovation Accelerator Fund has cooperated with Meet, the most established start-up community in Taiwan, to build the largest innovation and start-up platform in Taiwan. They also collaboratively hold a seasonal event, Meet Joint Innovation Day, to help connect corporates and startups.
By providing abundant resources, including China Development Financial, business relationships, mentorship, entrepreneurial community, and media, the CDIB Capital Innovation Accelerator Fund supports start-up companies' growth and expansion into global markets.
The portfolio include FunNow, KooData, XREX, and SHOPLINE.
Be Accelerator
Be Accelerator, founded in 2018 and backed by BE Capital and Daren Medical Group, is a startup accelerator and venture builder that focuses exclusively on Healthtech and Medtech in Taiwan. They wanted to help startups navigate the tricky healthcare landscape by closing the gap between ICT, healthcare, and business.
"Be X" and "Be Accelerator" are two flagship accelerating programs. Both welcome International & local startup teams to apply. Be Accelerator targets early-stage startups with products still in the proof of concept, and the program would be 16 weeks long. Be X targets startups that focus on market expansion, and the program is 12 months long. Startups that get selected in the program would have a Guaranteed initial investment of up to USD$200k and a follow on fund of USD$1M - $3M.
According to the website, as of May 2021, Be Accelerator has accelerated 49 startups, and help raised $50M USD.
Garage +
Garage +, launched by Epoch Foundation in 2008, is an incubator to back up innovation-driven startups. With supporters and sponsors from Taiwan's top companies including TSMC, Delta Electronic, Quanta Computer, and MediaTek, etc, Garage + has been helping startups to cooperate with big corporates.
For the startups who get selected to the Garage+, they wouldn't be taken any equity, and could access resources including free co-working space, training courses, mentors, and funding opportunities with a 75% success rate. Besides, Garage + has held a Startup Global Program to attract startups from around the world to come to Taiwan. Startups who get selected would get the chance to fly to Taiwan. Garage+ will help to arrange potential partners' meet-ups as well as booth & demo in annual events like Computex. The Startup Global Program has gained popularity from foreign startups. There are already 1,763 startups from 71 countries that applied to the program, and a third of the startups have obtained business partners or investors.
Taidah Enrepreneurship Center
Started by providing co-working space in Shuiyuan Campus for NTU startup teams called NTU Garage in 2013. Taidah Entrepreneurship Center later setted up NTU Accelerator and NTU Corporate Accelerator for fostering different kinds of startups
NTU Accelerator is targeting startups that established less than seven years, and are seeking funding in pre-A or Series A round with ready-made products or prototypes. The selected teams would be able to access the resource including co-working space, mentoring, investor matching.
NTU Corporate Accelerator Program, which is designed for startups that are seeking collaboration with corporates to validate client needs and their business models. With market-ready resources, They provide startups with in-depth mentoring, business resources, and opportunities to achieve large-scale production.
Center of Industry Accelerator and Patent Strategy, National Yang Ming Chiao Tung University(IAPS)
Founded in 2013, IAPS is a tech-oriented and university-affiliated startup accelerator. To date, they have worked with 750+ startups and lab techs.
For helping lab tech productize, IAPS executive The iCAN project (Integrated Cross-campus Accelerator Network) to helps lab techs and young startups to accelerate their product/service launch and early stage growth by providing the critical resources needed for fundraising and market validation. We provide personalized mentorship by C-level executives of large corporates, financial health check-ups, corporate collaboration opportunities and comprehensive business development strategy advice.
AWS Accelerator
Taiwan AWS accelerator is managed by NTPC-AWS Joint Innovation Center, which was founded by Amazon Web Services, the New Taipei City Government, and FCC Partners. It officially opened on the 10th of August, 2018.
Selected startups can move to NTPC-AWS Joint Innovation Center for 6 months, and during the 6 months, startups will benefit from assistance such as fundraising, networking, and linkage to the international ecosystem. Furthermore, startups will be offered an abundance of AWS cloud resources like the activate program (credit and support), workshops, 1:1 consultations, and tech forums.
The alumni include Rosetta.ai, Smart Tag, DeepWave, and Avalanche computing.
Microsoft Taiwan Accelerator
Microsoft Taiwan Accelerator, started in 2019, is an accelerator program launched by Microsoft. Microsoft has run the accelerator program around the world including the US, Europe, Tel Aviv, Shanghai, and Taipei. The accelerator is located in Startup Terrace in Likou that build by the Ministry of Economic Affairs. Microsoft Taiwan Accelerator aims at bringing IoT and AI resources to Taiwan, to help the startups grow.
The batch is one time per year, Microsoft is finding startups that would use cloud technology in the product. Microsoft would provide plentiful cloud resources including Azure credits and guidance for the startups that attend the program. At the end of each batch, Microsoft would host a demo event for startups to showcase their business plan and products, and Microsoft will bridge the resource from, investors and industry experts.
The alumni include MoBagel, 3drens, ATGENOMIX, and ITM.
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