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i2i Supports Taiwanese Startups to Raise Over $10 Million at New York Demo Day, Boosting U.S. Market Expansion

This year, under the guidance of the Small and Medium Enterprise and Startup Administration (SMESA), i2i and the American accelerator EntreCamp jointly launched the 2024 IP2 Scale Out Program. This initiative aimed to help Taiwanese startups enter the U.S. market, selecting ten companies for the venture.

On June 21, these startups showcased their achievements at a Demo Day event in Manhattan, New York. To date, these ten Taiwanese startups have successfully raised over $14 million, fostering cross-border collaboration and invigorating bilateral market exchanges and the Taiwanese startup ecosystem.

Since 2022, SMESA has been working with i2i to promote the IP2 (International Program+International Park) Scale Out Program, assisting Taiwanese startups in expanding into overseas markets.

This year, in collaboration with EntreCamp, they organized the third New York landing program, selecting and mentoring ten promising Taiwanese startups. These include Astron Medtech, Aluea Medical, Autopass, Calyx, Preteeth AI, Oen Tech, MacroMicro, TCMC, Numbers Protocol, and JMEM Technology, covering trending sectors such as AI, medical devices, semiconductors, and energy materials.

Starting in March, the program provided three months of intensive training, including courses on the U.S. investment market, business practice drills, and one-on-one pitch simulations, all conducted in English.

The Demo Day on June 21 in Manhattan successfully garnered the recognition of East Coast investors, with total fundraising exceeding $14 million so far.

(During the event, Deputy Director General Wu, Chia Ying of SMESA delivered the opening remarks, encouraging Taiwanese startups to explore overseas opportunities.)

On the day of the event, Deputy Director General Wu, Chia Ying emphasized that Taiwanese startups are competitive in global hot sectors, including AIoT, green solutions, and semiconductors, and can connect with international markets. This year's achievements are a provement to this competitiveness. Furthermore, the desire of Taiwanese startups to enter the U.S. market has been increasing amid recent geopolitical shifts. SMESA will continue to promote related programs to help domestic startups connect with overseas opportunities and enhance their international reputation.

IC, an advisor for the IP2 Review Board and founder of Taiwan Global Angels, added that most Taiwanese companies have a technical edge internationally, especially in biosciences and ICT. However, entering the U.S. market remains challenging.

The IP2 Scale Out Program aims to address this by combining government support with private sector efforts to showcase the potential of Taiwanese startups to the world.

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