Taiwanese program to invest up to $70m. in Israeli tech
A program has been established to connect Israeli companies with leading strategic partners from various sectors in Taiwan.
Innovation to Industry (i2i), the biggest innovation company in Taiwan, launched on June 9 a first-of-its-kind program named IP² LaunchPad, which provides Israeli start-ups with exposure to the whole ecosystem, a center to launch their activities, validate their technologies and to penetrate into the growing East Asian markets with strong strategic partners, as well as have access to investments from $200,000 in the first phase and up to $3 million at the end of the program.
IP² is managed in Israel by the Israeli consulting firm Healthier Globe headed by Rani Shifron, which assists and accompanies start-ups and organizations in entering and developing global markets.
The purpose of the IP² LaunchPad program is to create collaboration between Israeli innovation and the technology and healthcare markets in Taiwan, to connect Israeli companies with leading strategic partners from the manufacturing and distribution industry, the health care system, research and development organizations and potential investors, as well as to establish the Asian Business and Innovation Center in Taiwan for the Israeli companies in order to help accelerate their entry into East Asian markets.
The program was kicked off in the wake of the global corona crisis, and from March of this year i2i and Healthier Globe scrutinized dozens of Israeli companies from which an industry panel selected startups from the fields of digital healthcare (60% of the companies), cyber security (about 24%) and AIOT (about 16%). The companies are in the early stages of sales or in preparation for the market, and most of them are after initial investment rounds.
With the launch of the program, eight strategic cooperation agreements were announced and signed between the Israeli start-ups and the partners in the program. The agreements include piloting, feasibility studies and clinical validation studies.
Gary Gong, chairman of i2i, initiated the program following his visits to Israel during recent years, based on his familiarity with the Israeli innovation industry and the vision for strategic cooperation. "I am excited to launch the program today and believe that integrating the Israeli innovation industry with the hardware and healthcare industry in Taiwan will fuel the industry innovation in Taiwan," he said.
Ho Chin-Tsang, director general of the Small and Medium Enterprise Administration of Taiwan's Ministry of Economic Affairs, commented "I am pleased with the strengthening of the business ties with the Israeli innovation industry. I believe that the integration of the leading Israeli industry in software solutions with the huge hardware industry in Taiwan, a world leader in personal computers, LCDs, semiconductors and mobile phones as well as Taiwan's leading healthcare system, will advance the development of each of the parties. "