Up to $70 Million in Taiwanese Capital to be Invested in Israeli Start-Ups
A program has been established to connect Israeli companies with leading strategic partners from various sectors in Taiwan. Eight of the 25 companies selected for the unique initiative have already signed strategic cooperation agreements.
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. "
Rani Shifron, CEO of Healthier Globe, noted that Taiwan has one of the best health care systems in the world. The country has successfully coped with the Corona virus, the economy has worked relentlessly and continued to work more vigorously and therefore is a significant business center, especially during this period, for Israeli companies seeking to penetrate global markets. In addition to the ecosystem exposure and the guidance, Israeli companies benefit from reduced tax payments in Taiwan for their income, grants, an office center and living quarters. The program is annual and is intended to run for at least three years and includes a two-week, all-expense-paid trip for the startups.
The launch of the program and the announcement of the cooperation were held simultaneously in Tel Aviv and Taipei with the participation of Ho Chin-Tsang, director general of the Organization of Small and Medium Enterprises Administration of the Ministry of Economic Affairs; Gary Gong, the chairman of i2i; Omer Caspi, representative of the Israel Economic & Cultural Office in Taiwan; Tsilil Lahav, head of the Israel Economic & Trade Mission in Taiwan; Muna Lo, secretary of the Economic Division of the Taiwan Embassy in Israel; and representatives of dozens of partners in the program in Taiwan and representatives of the start-ups in Israel.