ITRI plan­ning to set up 10 new in­no­va­tion firms this year

The China Post - - TAIWAN BUSINESS -

Tai­wan’s gov­ern­ment-spon­sored Industrial Tech­nol­ogy Re­search In­sti­tute (ITRI, ) is plan­ning to set up 10 new in­no­va­tion com­pa­nies by the end of this year.

Tsay Ching-yen ( ), chair­man of the ITRI, said the in­sti­tute will con­tinue to fo­cus on high-tech re­search and devel­op­ment and use the achieve­ments of its re­search to build new in­no­va­tion firms.

Start­ing from 2011, the ITRI has been push­ing for R&D, paving the way for open­ing new com­pa­nies backed by the in­sti­tute’s tech­nol­ogy know-how.

In the past four years, the ITRI has set up a to­tal of 33 new in­no­va­tion firms in a wide range of in­dus­tries, such as op­to­elec­tron­ics, in­for­ma­tion/ com­mu­ni­ca­tions, pro­duc­tion ma­te­ri­als, biotech­nol­ogy, ma­chin­ery and re­new­able en­ergy tech­nol­ogy.

He said that the ITRI has al­ready had five to six new in­no­va­tion proj- ects in the pipe­line, and it is very likely for the in­sti­tute to reach its goal of set­ting up 10 new com­pa­nies this year.

Ac­cord­ing to the ITRI, it has to spend six to nine months to plan a new com­pany by study­ing the ma­jor is­sues, such as tech­nol­ogy eval­u­a­tion and mar­ket de­mand, and then launch fund rais­ing ac­tiv­i­ties and or­ga­nize a man­age­ment team be­fore fil­ing an ap­pli­ca­tion for com­pany reg­is­tra­tion.

In ad­di­tion to set­ting up new com­pa­nies, Tsay said that the ITRI will strengthen its ties with Sil­i­con Val­ley in the United States, which has be­come home to many of the world’s largest high-tech cor­po­ra­tions, as well as thou­sands of tech star­tups.

Closer re­la­tions with Sil­i­con Val­ley are ex­pected to help the ITRI push for tech­nol­ogy in­no­va­tion, which is ex­pected to up­grade Tai­wan’s industrial devel­op­ment, Tsay said.

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