US Science Agency debuted startup matchmaking program in Taiwan

Taipei's recent initiative, "Chip-Based Innovation," underscores Taiwan's commitment to technological advancement with a substantial budget of $10 billion over 10 years

The US agency responsible for driving scientific research has initiated a program aimed at linking American startups with their counterparts in Taiwan, supporting the island's aspirations to cultivate key players in strategic sectors such as semiconductors, AI, and beyond. The National Science Foundation, a major federal research funding entity, is sponsoring a series of workshops overseas for US startups to collaborate with international peers, starting with Taiwan. The program, endorsed by Taiwan's Ministry of Economic Affairs, seeks to identify and fund firms exploring "deep tech" fields, encompassing cutting-edge areas like biotechnology and quantum computing.

NSF director Sethuraman Panchanathan revealed plans to extend the program to allied nations over time, emphasizing the shift of hardware innovation towards Asia despite the historical dominance of US-born startups like Nvidia Corp. Taiwan Semiconductor Manufacturing Co. (TSMC) alone accounts for approximately 90% of the most advanced logic chips, a fact underscored by the US Commerce Department awarding TSMC substantial grants and loans for building plants in Arizona. Michelle Meng-Hsiung Kiang, co-founder of Impact Science Ventures and a contributor to the program's conception, emphasized the importance of establishing early and diverse international relationships for US startups to develop robust global supply chains and businesses, thereby fueling the US economy's growth.