Meet the Aspiring Youth Startups at the Taiwan Expo 2019 in Indonesia
Source：Service Industry Promotion Center
From：Business Alliance Section
Update Time：2019/09/09
Meet the Aspiring Youth Startups：U-start Demo Day
The U-start Plan of the Youth Development Administration, Ministry of Education has selected 8 companies from 599 startups in Taiwan to exhibit at the Grand City Convex in Surabaya during September 26 to 28 this year. The outstanding teams include fields in software systems (XBEACON), medical systems (ADVMEDS), e-commerce marketing (PICSEE & WAVE), games (YOHO), speakers (TOKU&GAWA), food and biotechnology (HOMIYA & AGRITECH), showcasing the entrepreneurial and high education training achievements.
The U-start teams aim to cooperate with local partners and explore business opportunities in the Indonesian market. Business partners in the ASEAN countries are welcome to participate in the U-start Demo Day during 13:30 to 15:00 on September 26 at the Taiwan Expo Stage. Five selected entrepreneurs (Yoho, Toku & Gawa, PicSee, AdvMeds and AgriTech) will deliver pitches about entertainment, social marketing, healthcare and eco-friendly agriculture, giving you a brand-new experience and insight of Taiwan’s innovative products and services.
The U-start Plan is one of Taiwan's first campus Angel Fund. U-start cooperates with incubation centers in colleges and universities to assist the youth in starting businesses. Since 2009, it has been promoted for 10 years and assisted more than 2,300 startup teams. A total of 886 startup teams received subsidies, of which 599 established companies. Their markets have expanded throughout Europe, America, South Africa and Mainland China. Many of the mentored U-start startup teams are glowing from all walks of life.
In recent years, many ASEAN countries have invested in startups due to their rapid economic development and the rise of the middle class. According to the Google and Temasek Report 2018, Southeast Asia’s internet economy reached US$72 billion and would grow to US$200 billion by 2025. Indonesia is the largest and fastest growing internet economy in the region, reached US$27 billion in 2018 and is poised to grow to US$100 billion by 2025. There are more than 7,000 startups in Southeast Asia, and 80% of them are located in Indonesia, Singapore and Vietnam; Indonesia ranks first in the region and third in the world with over 1,600 startups (more than 800 active companies).
According to the Taiwan Startup Ecosystem Report 2018, there are many outstanding startup teams in Taiwan that have attracted global attention. The survey shows that the main reasons for starting a business include: seeing favorable market opportunities (35%), developing good products and services (33%). The top targeting overseas markets for Taiwanese startups are China (55%), Southeast Asia (30%) and the United States and Canada (10%). Visitors can have one-on-one meeting with U-start entrepreneurs during the Taiwan Expo 2019 in Indonesia and explore business cooperation opportunities together. For more information about meeting the aspiring youth startups or the U-start Demo Day, please contact Ms. Jenny Liao (jenny@taitra.org.tw), Project Manager of the Taiwan External Trade Development Council.