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Vision Program Leads Start-ups into the World

2019/10/24

The Vision Program is supported by the Ministry of Science and Technology and executed by the Science & Technology Policy Research and Information Center under NARLabs. This year, the program collaborates with the famous Silicon Valley seed accelerator 500 Startups, where five selected start-up teams will receive training.

The selected teams and 500 Startups

 

The five Taiwanese start-up teams selected this year include: “Space Apes”, the developer of AQR (Aquarius), a solar-powered water generator that extracts water from the air to provide safe drinking water for regions affected by water scarcity; “Spherical Motion: Spherical Motor Research Team”, who dedicates to develop spherical motor technologies and products; “Metformin-121”, who applies AIoT technology in designing wearable devices for medical monitoring; “NexRetail”, the developer of the RetailSense Analysis Management System using AI image recognition technology; and “StyleUP”, who has launched an online platform combining makeups, styles, and e-commerce for reserving beauty services.

 

500 Startups is one of the most renown seed accelerators in Silicon Valley. The Best Startup Accelerators of 2017 ranked accelerators on a five-tier scale: Platinum Plus, Platinum, Gold, Silver, and Bronze, and 500 Startups was awarded the Gold Tier ranking. The accelerator has invested in more than a thousand start-ups, including three unicorn companies. Numerous entrepreneurs across the globe have been vying for a place in the accelerator for its considerable resources.

Start-up teams from Taiwan and other countries received training by 500 Startups

 

Apart from the 500 Startups training, the program also invited a group of local experts to provide consultation services to the trainees. These experts explained the criteria for foreigners to set up a company in America and the regulations concerning tax and service, allowing start-up teams who are interested in founding companies in America to gain a better understanding of related matters. In addition, the trainees also met with representatives of venture capital companies such as SVT Angels and Acorn Campus. These exchanges with foreign start-ups, industry experts, and venture capital companies enabled the trainees to broaden their horizons and think big and establish a foothold in the market.

 

Besides, during the training, the five teams also visited UC Berkeley SkyDeck, the biggest official accelerator of the university, and other institutions in the start-up field including UC Davis, Venture Catalyst, UC Merced, and Venture lab. By meeting and sharing with foreign start-up teams, the trainees not only learned more about the characteristics of different accelerators and the local start-up environment but also created new personal connections.

Industry experts explained to the trainees the regulations on setting up a new business in America