TIF Innovation Ecosystem Report - August 2021 (AI Domain)
The outbreak of Covid-19 pandemic has been impacting the business world; it has fundamentally transformed the way we work, that reshaped the business landscape irreversibly. As such, innovation areas like AI, cloud computing, and digital transformation are now become a booming topic in Taiwan.
There are several successful cases in Taiwan in the first half of 2021 around AI, including the MarTech AI startup – Appier, went IPO in Japan and become the first Unicorn in Taiwan, and Kneron company that received strategic investment from multinational giants Foxconn and Winbond.
AI for Enterprise
According to a research report from Hive Ventures in 2021, over half of companies in Taiwan have a need for AI to transform business to improve business management. New opportunities emerged with the growing opportunities, for example, Profet AI – AI Automated Machine Learning provider was funded pre-A round in Q1 2021, to help expanding to Southeast Asia and China, as well as local Taiwan manufacturer. InfuseAI received 4.3 million US dollar A found funding on April 2021, to develop MLOps (Machine Learning Operations) platform to assist enterprise deployment of AI management.
AI for MarTech
The market penetration rate and market cluster rate are increasing rapidly in Taiwanese markets. In 2018, the market size was $38.92 billion with average growth rate of 7%. In 2019, Taiwan had the highest proportion of ecommerce market in Asia, at 65.2%. On the other hand, Google is planned to remove third-party cookies by 2022, which prompts AI MarTech companies to adopt innovative approach to target their markets precisely with AI technology. Two Taiwan MarTech startups GoSky and iKala are partnering to develop the next generation of social media marketing campaign utilizing AI technology.
Another Marketing innovation company – Accuhit, has collaborated with media company – The News Len, established a joint venture company DaEX, to combine AI, big data, and media to build a Customer Data Platform, and a robust marketing ecosystem. Appier on the other hand, has acquired marketing channel chatbox platform – BotBonnie, to support AI marketing analysis with chatbox. It is expected that MarTech will continue to boom in Taiwan with more collaboration amongst Taiwanese innovations.
Enterprise in Taiwan Supporting AI Ecosystem
The AI innovation ecosystem is growing faster than ever, not only in Taiwan but across the world. Within this ecosystem, Accelerator, Enterprise, and Government has play a vital role in nourishing these AI innovations. AppWorks Accelerator is founded in 2010, and has launched AI/Blockchain Accelerator in 2018 August, with over 100 AI startups graduated from the program.
One of the largest international CPU company – NVIDIA established NVIDIA Inception AI Program in Startup Terrace to promote AI startups and cultivate talents. There are many other large incubators and programs that contribute to foster the development of AI industry in Taiwan, including SparkLabs Taipei, Taiwan AI x Robotics Accelerator, CIAT Accelerator Program by StarFab, and etc. Other education schools and laboratory institution like Artificial Intelligence Foundation also plays an important role in bringing rise to the AI industry in Taiwan.
Taiwan Innovation Finder Team
Daniel Tseng | email@example.com | 02-8601-9373 Caleb Shih | firstname.lastname@example.org | 02-8601-9373
TIF Official Website Portal: www.taiwaninnovationfinder.com
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