Region:
Asia
Category:
Economy

APEC Accelerator Network contest wraps up in Taipei

Region:
Asia
Category:
Economy
Publication date:
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The teams, 12 of which were from Taiwan, battled it out for top prize of US$100,000 and the opportunity to collaborate with Intel Corp. and Siemens AG

Asia-Pacific Economic Cooperation Accelerator Network Summit and Global Challenge wrapped up Oct. 20 in Taipei City, showcasing innovative solutions from across the region in immersive collaboration, interactive learning and smart home and mobility.

Organized by the Ministry of Economic Affairs, the two-day event involved 31 startups from 16 countries and territories. The teams, 12 of which were from Taiwan, battled it out for top prize of US$100,000 and the opportunity to collaborate with Intel Corp. and Siemens AG.

At the opening ceremony, MOEA Vice Minister Yang Wei-fuu said the initiative underscores the commitment of Taiwan to achieving APEC’s goal of inclusive growth for small and medium enterprises.

“The competition is expected to bring about breakthroughs in next-generation information communications technology while driving innovation in digitalization, smartization, transformation and upgrading related industries.”

Since the challenge’s launch in 2013, more than 60 Asia-Pacific startups have used the event as a springboard to access expanded business opportunities. These include 2014 top place-getter Servtech Co. Ltd. from Taiwan, which went on to claim first place for Internet, Mobile and Software Computing at Intel Global Challenge in the same year.

In addition, Gogolook Co. Ltd.—Taipei-based developer of popular app Whoscall—was acquired by South Korea’s Naver Corp. after the 2013 challenge, while local mobile authentication company AirSig Inc. landed a US$2 million investment from Foxconn Technology Group after entering the event earlier this year.

According to Yang, these developments are testament to the success of APEC Accelerator Network contest and the strength of Taiwan’s reputation as a leading proponent of SME incubation throughout the APEC region.

“Following the inauguration of the network in Taiwan last year, 15 member economies and over 50 accelerators joined its ranks and are helping move the agenda forward,” he said.

“We have every reason to believe that by capitalizing on this strategic partnership, as well as the participation of global industry heavyweights like Intel and Siemens, the event will provide additional impetus and momentum for the growth of emerging enterprises in the Asia-Pacific.”