On June 21, the ten outstanding startups selected by the Small and Medium Enterprise Administration of the Taiwan Ministry of Economic Affairs held a Demo Day in New York City to showcase innovative products and services in medical equipment, semiconductors, energy materials, and more to attract investments from East Coast investors. This initiative aims to expand and deepen the presence of Taiwan’s startup industry in the American market, boosting its development.
The Small and Medium Enterprise Administration has been promoting the IP2 (International Program + International Park) Scale Out project since 2022. This year, in collaboration with the startup cultivation center “Capital”, and the East Coast Startup Accelerator “EntreCamp”, they launched the third round of the New York on-site training program. The program selected and mentored 10 promising Taiwanese startup teams, providing them with three months of intensive training starting in March. The training included courses on business practices, one-on-one presentation rehearsals, and culminated in face-to-face meetings with investors in New York to help them better understand the demands of the American market and establish valuable connections.
Deputy Director of the Small and Medium Enterprise Administration, Wu Jiaying, stated in an interview that Taiwan’s startup ecosystem encompasses a wide range of fields, including artificial intelligence of things (AIoT), green solutions, and semiconductors, all of which can align well with the American market. She mentioned, “In the first year we had 7 companies, 5 in the second year, and this year we brought 10 teams, looking forward to further expanding next year.”
EntreCamp project manager Zhang Yuzhen, in an interview, disclosed that 13 investors attended the Demo Day, including representatives from Amazon’s investment division, venture capital firms, and angel investors. Among the 10 startups showcased, 6 were actively fundraising, with 4 having already secured funding, totaling over $10 million in investment. Zhang noted the increasing global recognition of Taiwan’s presence in the international arena, leading to a heightened demand for Taiwanese startup technologies in the United States. She also mentioned the diverse industries in New York, such as media, fashion, and marketing. Additionally, she highlighted the uncommon occurrence of half of the startup team members being women.
The selected 10 outstanding startups cover various sectors such as medical equipment, semiconductors, and the Internet of Things. They include Astron Medtech, Aluea Medical, Autopass, Calyx, Preteeth AI, Oen tech, MacroMicro, TCMC, Numbers Protocol, and JMEM Technology.
IC Chan, the founder of Taiwan Global Angels, spoke to NTD Television, emphasizing that for investors, the first thing they look for is the story behind the startup: why they are pursuing this particular topic and their unique insights into the market. He noted the challenge Taiwanese companies face in doing business in the U.S., despite their strong engineering capabilities in areas like scientific research, biology, and network industries.
Saint Hung, the CEO of Universal Processing, shared with NTD Television that the first impression is crucial when selecting investment partners. He expressed interest in three teams from the event and mentioned the possibility of investing in them.
Prominent figures such as entrepreneur Terry Hsiao and Capital’s Chairman Gong Renwen also attended the Demo Day event in New York to support and engage with the emerging startups.