To address the challenges faced by local startups, such as limited funding, insufficient resources, and the high costs of entering international markets, the Taipei City Government has launched the "Entrepreneur Passport" program. This initiative aims to assist startups in expanding their global reach by reducing their initial rental costs and financial burdens. Eligible for startups registered in Taipei City and operating for less than 12 years, the program provides up to an 80% subsidy on overseas co-working space fees, with an annual cap of USD 2,000. The application process is streamlined, requiring startups to submit their application within 15 days of moving into the overseas co-working space.
Through this program, representative Taipei-based startups like Ilike Technology and Cherri Tech have benefited significantly. Ilike Technology, focused on digital transformation for small businesses, has leveraged the "MantaGO" platform to help merchants create their own chatbots using simple social messaging tools. By participating in the "Entrepreneur Passport" program, Ilike Technology was able to enter the Japanese market and reduce rental costs, allowing them to invest more in product development and market expansion.
Cherri Tech, specializing in cross-border payments and risk management systems, has been conducting technical testing and localization for the rapidly growing Southeast Asian market. By subsidizing their entry into a co-working space in Thailand through the "Entrepreneur Passport" program, Cherri Tech was able to effectively adapt to local payment habits, understand cultural differences, and quickly establish partnerships, thereby reducing market risks and high fixed costs.
Beyond rental subsidies, the program also provides access to local market information and networking opportunities, serving as a crucial support system for startups as they establish themselves overseas. Xu, CEO of Ilike Technology, noted that this subsidy program is not just financial support but also a bridge that breaks down language and cultural barriers, helping startups integrate into local markets more quickly and focus on technological innovation and internationalization.
With this resource support and flexible co-working space model, the "Entrepreneur Passport" program is accelerating the pace at which Taipei-based startups enter overseas markets, fostering a globally competitive startup ecosystem.
Qiao Rui Technology
Photo Imge: TNL Brand studio
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