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Event

The foreign business community thrives in Taiwan for six consecutive years

Wendy Wu 2021/11/30
 Dragons' Chamber
Dragons' Chamber

Dragons’ chamber Taiwan held the pitch event on November 20 amid Meet Taipei, Asia’s largest startup festival. The final five startups competing in the event are Mangax, 3 SQUARE, Flight Path Immigration, Stride, and Startup In Taiwan. It has been six consecutive years since Meet Taipei has invited dragons’ chamber to host the pitch event, nurturing the international community in Taiwan.

Notably, Meet Taipei this year has reached 70,000, a record-high number of people to join the business feast.

A record-breaking year for startups in Taiwan

During the 2021 Meet Taipei, the Dragons' Chamber pitch event was launched on November 20 in Taipei Nangang Exhibition Center. Dragon’s Chamber, which is a group aiming for helping foreign entrepreneurs in Taiwan, get the exposure they need to grow their businesses. They have held the pitch day in Meet Taipei for six consecutive years.

“Taiwan has a tradition to help non-local startups start their business here successfully,” said John Wang, the editor-at-large in Business Next Media.

“Taiwan has a tradition to help non-local startups start their business here successfully,” said John Wang, the editor-at-large in Business Next Media. 2021 is a record-breaking year for Taiwan as it gives birth to two unicorn startups ㅡ Appier and 91APP. “We will try to leverage all the resources and assiatance to the international community in Taiwan as well”, according to John.

Jean-Christophe Guedon, president of the Canadian Chamber of Commerce in Taiwan, also highlighted the networks as potential propellants for startups. “Go on to the network and meet people, you will take yourselves beyond what you ever thought,” he said.

Foreign entrepreneurs are a plus for local business

Foreign entrepreneurs exist in all industries of Taiwan. “It's been fantastic to see how the foreign business community has been growing in the last ten years,” said the founder of Dragons’ chamber Elias Ek. He listed some tech giants which are co-founded by at least one foreigner, including Google, Tesla, and Paypal.

“3.5% of Taiwan’s population is foreign residents,” Elias pointed out. Having this foreign community growing in Taiwan could be a true treasure for business, he indicated.

Foreign entrepreneurs exist in all industries of Taiwan. “It's been fantastic to see how the foreign business community has been growing in the last ten years,” said Elias Ek.

Among five finalists, the first prize goes to MangaX, an EdTech company that comes up with a visual-based journaling platform to help students and educators cope with their stress. The idea of mental health aids tool comes from three founders ㅡ Joe Huang and Paul Yao from Taiwan, and Genevieve Murphy from the United States.

They aim to inspire and support educators in changing the traditional paradigm of education. “Taiwan is a blue ocean of possibilities with the support needed to help you succeed,” according to the winner startup.

Flight Path Immigration, a Canadian immigration consulting firm, has won the second prize in the pitch. The startup assists its clients with the Canadian immigration process and also helps them with settlement needs in Canada. Its Canadian founder Cassandra Leigh Brennan, who is also a Regulated Canadian Immigration Consultant (RCIC), aims to offer clients a unique and knowledgeable service, to further accomplish their application process.

“Taiwan’s road to bilingualism by 2030, is just one of the reasons Flight Path chose Taiwan as its home base outside Canada. It is an amazing island with unlimited opportunities to network, meet, and partner with other businesspeople to create your brand,” said Cassandra.

3 SQUARE, a startup working on a digital food hall network and virtual restaurant group, ranked third in Dragons’ Chamber this year. They provide tech-enabled, turnkey solutions that are both sustainable and profitable by maximizing utilization and revenue per square meter of kitchen spaces to make cuisines.

Victor J. Chow, the founder of 3 SQUARE, says “Taiwan is one of the top markets globally for food delivery companies. We also have more orders a day than many other countries in Asia, including Singapore, Malaysia, Thailand, Philippines, etc. so it is a great place to start!”

Startup in Taiwan plays a role as Wiki for startups, aiming to provide guidance to startups in Taiwan.

Stride and Startup in Taiwan have shared the fourth-ranking in the pitch event. While Stride was founded by American Joseph Prosnitz, Startup in Taiwan was built by a Philippines journalist Paolo Lising. Stride develops an exercise machine using patented E-Motion technology connected to a social video platform. Meanwhile, Startup in Taiwan plays a role as Wiki for startups, aiming to provide guidance to startups in Taiwan.

Foreign founders speak highly of the Taiwanese market and most importantly, the living environments in Taiwan. Each year, Dragons’ Chamber encourages foreign entrepreneurs to thrive by hosting the pitch event and preparing everything for the starters. Winners of the pitch will be offered consultant services, bonus, trademark application services, books, and membership in the Canadian Chamber of Commerce Taiwan.

Taiwan has seen a boom in foreign communities locally, which surely is a plus for the business environment.

About the Author
Wendy Wu
Contributor
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Wendy Wu is a freelance journalist focusing on emerging technologies, corporate social responsibility, and transnational cooperation. Stressing the cross-cultural context, she is currently taking a master's degree in Journalism at National Taiwan University and heading to Europe for a long-term exchange.

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