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As I stepped into the 2023 Meet Taipei Startup Festival, my attention was immediately drawn not just to the dazzling booths and cutting-edge innovations, but also to the multitude of young people filling the venue. Among them were exhibitors passionately promoting their services and attendees keenly observing the latest technology trends. Regardless of their roles, all shared a common trait: their eyes sparkled with eagerness to engage with the startup world.
This year’s theme at Meet Taipei, “The Future of Future,” might sound abstract at first. Yet, it was vividly brought to life by these enthusiastic youths. Embodying this theme were the panelists at the “Young Future” forum, featuring three startup founders who established their companies in their 20s. Among them are Alan Chan, founder of Heptabase, a Y Combinator-backed visual note-taking tool for comprehending complex topics. Jeff Hu, founder of Turing Certs, also shared his insights; his startup, which leverages blockchain technology to establish a digital trust network, has been recognized by the KPMG Private Enterprise Tech Innovator as one of the top 8 Taiwanese startups and has attended the Web Summit. Completing the trio was Abner Chao, the founder of AmazingTalker, an online tutoring platform with over 1 million users worldwide. These three young entrepreneurs excel in distinct sectors, but they share the passion for solving problems and the ambition to expand into global markets.
Reflecting on Heptabase’s inception, Alan Chan remarked that his initial motivation was straightforward: he simply wanted to solve the problem that intrigued him. “It feels painful if the problem is not solved,” he explained, and this relentless pursuit of better solutions continues to drive him. Jeff Hu resonates with this sentiment, humorously describing himself as “obsessed with stress.” In contrast, Abner Chao adopts a less aggressive approach, modestly summing up his business philosophy as “trying to survive.” However, Chao, a serial entrepreneur, is no stranger to taking risks and has shown resilience in bouncing back from past failures.
These diverse approaches have translated into remarkable global success for their companies. Since its founding in 2021, Heptabase has attracted paying users from over 60 countries and successfully closed a seed funding round of $1.7 million, with support from Y Combinator and industry luminaries. TuringCerts’ blockchain certificates have been adopted by more than 300 institutions globally, including the World Health Organization and Harvard University. AmazingTalker’s innovative model has earned it a spot in Forbes Asia’s 100 to Watch in 2023.
Hu, a young talent himself, recognizes the significant impact that skilled individuals can have on the growth of a business. When asked about the strengths of the Taiwanese startup ecosystem he aims to leverage for TuringCerts, he immediately responded with one word: “talent.” Taiwanese talents, as Hu noted, are characterized by a high level of education, proficiency in English, and a robust sense of responsibility towards work. “You can’t find employees like this everywhere,” said Hu.
The individual journeys of Chan, Hu, and Chao, each marked by unique strategies, illustrate a variety of paths to success within Taiwan’s startup landscape. This diversity is not just limited to individual entrepreneurs; it’s a characteristic of the entire Taiwanese startup ecosystem, as noted by industry leaders. Christine Tsai, CEO and co-founder of 500 Global, echoed this sentiment in her welcome message at Meet Taipei. “What we are really excited about is the immense talent that is present in the Taiwanese startup ecosystem,” said Tsai.
500 Global has been recognizing the potential of Taiwanese startups as early as 2011, and has since invested in over 70 companies. The venture capital firm’s confidence in Taiwan’s startup ecosystem is evident in its inclusion of Taiwan among the “Rise 30” economies, a list highlighting regions with younger, faster-growing, and more globally connected businesses. The Rise 30 economies are projected to surpass the US and China in GDP by 2027. “There are talented founders everywhere and certainly in Taiwan,” she added.
Tsai also emphasized the necessity for startups to think big and aim for global markets right from their early stages. She acknowledged that many Taiwanese startups are well-positioned for such expansion, as most founders possess a global mindset. Additionally, Tsai pointed out that the AI supercycle is presenting Taiwan an unprecedented opportunity to shine on the global stage.
Numerous sectors in Taiwan are committed to nurturing young talents, both locally and on a global scale. This was exemplified by the National Kaohsiung University of Science and Technology, which brought student teams to Meet Taipei to showcase their award-winning innovations. Among them was Jinghe Technology, whose smart cloud alarm system for aquaculture garnered the U-Start Plan for Innovation and Entrepreneurship award, supported by the Youth Development Administration of the Ministry of Education. Ting-yu Chen, a team member and first-time attendee at Meet Taipei, shared that it was a rewarding experience to connect with other startups focused on aquaculture solutions. She believes this exchange will fuel her team’s ongoing efforts to enhance their product. With an eye on expansion, Jinghe Technology is planning to introduce their innovation to Southeast Asian countries, aiming to revolutionize the management of aquatic livestock in a region where the aquaculture industry is seeking more efficient solutions.
While local startups are actively seeking opportunities to expand into international markets, Taiwan's startup scene is simultaneously attracting foreign talent. At Meet Taipei, Team DIGI Gold Card showcased the Employment Gold Card program, aimed at international digital professionals. Since 2018, the Taiwanese government has issued over 8,300 Taiwan Gold Cards to qualified expatriate professionals. This influx of foreign talent is enriching Taiwan’s digital landscape, fostering a vibrant environment where collaborations between foreign and local professionals thrive. The International Digital Talent Forum at Meet Taipei serves as a prime example of this synergy, with Gold Card holder Alan McIvor, practice leader at Paul Wright Group, and local entrepreneur John Fan, co-founder and CEO of PicCollage, sharing their insights on building connections within Taiwan’s digital industries.
The 2023 Meet Taipei Startup Festival demonstrated the dynamic interplay of local innovation and global ambition within Taiwan’s startup ecosystem. From young entrepreneurs like Alan Chan, Jeff Hu, and Abner Chao, who are redefining their sectors with global aspirations, to the international talents drawn to Taiwan’s growing digital landscape, it’s clear that the future of Taiwanese startups lies in a blend of homegrown talent and international collaboration.
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