Introduction of the Competition-2014

Due to drastic changes in the global industrial structure and economic environment in recent years, enterprises need to transform themselves in order to regain competitiveness, and the key to transformation is the encouragement of innovation and the searching of potential enterprises.

The younger generation has different points of view from the older generation, and is very creative and has a lot of energy for new enterprises. They need people who see their true value. In order to encourage young people to realize their innovations as soon as possible and turn them into new products and new business, Taipei City Government has organized the 2014 Asia Pacific Entrepreneurship Competition. It is hoped that an abundance of innovative energy will be generated through ideas that originate from this competition and the opportunity to communicate with foreign entrepreneurial teams.

The competition is separated into two groups: the New Entrepreneurial Groups which has completed company registration in the Republic of China or in a foreign country within the past five years. The other group is the Innovative Applications Groups which does not owned companies. During the competition, we will provide various counseling and resources, along with additional services like matchmaking with investors, to help entrepreneurial teams find the assistance they need. The winning team has the opportunity to attend Slush 2014 in Finland, the biggest event for start-ups in Europe. Once there they will have an opportunity to show international venture capital managers the innovative products and services of Taiwan, while developing a global perspective by interacting with teams of international entrepreneurs.

2014 Asia-Pacific Entrepreneurship Competition Award Ceremony and Taipei International Innovation and Entrepreneurship Forum

To promote young people to realizing their early entrepreneur dreams early and to turn their innovation into an innovative product and an entrepreneurial enterprise, the Taipei City Department of Economic Development has invited investors to judge and guide the New Entrepreneurial Power – Entrepreneurial Idea Competition since 2012.

In 2013 outstanding domestic and international entrepreneurial teams were invited to participate in the 2013 Asia-Pacific Entrepreneurship Competition. This year, our entrepreneurial competition has extended to Europe, and is cooperating with the most influential entrepreneurial event in Europe, Slush. A representative from each group of winners will have the opportunity to go to Finland and participate in the Slush 2014. These participants will present their innovation method to international investors. At the same time, top foreign entrepreneurial teams will have an opportunity to come to Taiwan and conduct exchange, thereby, expanding the vision and international perspective of Taiwan entrepreneurs.

Participants in this competition come from China, England, the United States, Indonesia, Malaysia, and Holland. With fierce competition between 140 proposals, three groups have been selected for the New Entrepreneur Group and Innovation and Creativity Group. In addition to receiving 20 thousand to 100 thousand dollar awards, the Department of Economic Development has arranged for entrepreneurial courses, workshop, and one-on-one counseling. Exchange between international entrepreneurial teams can allow participating teams to adjust their business model under the guidance of industry experts. This can improve their business management capabilities, increase exchange with other domestic and international entrepreneurial teams and the venture capital industry, and expand their international perspective. First place in the New Entrepreneur Group is WritePath Inc. and first place in the Innovation and Creativity Group is Talk-Now. They will be going to Finland on November 16th to participate in Europe’s largest entrepreneur activity, Slush 2014, and to look for investment and cooperation opportunities with international investors.

New Entrepreneur Group

No Company name Sponsorship amount
1 BeijingThu3D 18,750
2 Techgiant Art Technology Co., Ltd. 6,250
3 WritePath Inc. 18,750
4 Changee 12,500
5 MobiStor Technology Inc. 12,500
6 Paper Shoot 12,500
7 LBSTEK Inc. 6,250
8 IHealth 12,500
9 MOOREdoll 6,250
10 Zuvio 12,500
11 Wulink Cultural Creative 12,500
12 Kangrui Technology 0
13 Jingchi Digital KEY VR 12,500
14 Gigdiving B.V. 6,250
Total 150,000

Innovation and Creativity Group

No Name of proposal/sponsor Sponsorship amount
1 PM2.5 and TSP Monitoring Equipment/Tai Chen-Yu 6,250
2 Talk-Now/Chung Wen-Han 12,500
3 iDance Entertainment /Ho Hsuang-Pei 6,250
4 CodeMe/Peng Ju-Ching 6,250
5 Wei Chi-Yao (Downton butler)/Wei Chi-Yao 6,250
6 Oral optical tomography camera /Li Shih-Yuan 6,250
7 Fresh aquaculture/Chuang Ching-Yu 6,250
Total 50,000

New Entrepreneur Group

Gold medal: WritePath Inc. (Taiwan )

Award: NTD 100,000 award, one commendation, one trophy

Silver medal: Zuvio (Taiwan )

Award: NTD 60,000 award, one commendation, one trophy

Bronze medal: MOOREdoll (Taiwan )

Award: NTD 40,000 award, one commendation, one trophy

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Signing investment cooperation memorandum of understanding (MOU)

A total of seven companies and four investors signed 15 investment MOU. The association will assist with follow up guidance and matching work.

No Company name Investors who signed MOUs Total
1 WritePath Inc. Sunsino Venture Group, Chairman Wang Wei-Chung

Vertex Venture Holdings, General Manager Chang Ching-Cheng

CTBC Bank venture capital, Deputy General Manager Chiu Ming-Hui

3
2 Changee Initial venture capital provider and partner 1
3 Paper Shoot Initial venture capital provider and partner

Vertex Venture Holdings, General Manager Chang Ching-Cheng

CTBC Bank venture capital, Deputy General Manager Chiu Ming-Hui

3
4 LBSTEK Inc. Vertex Venture Holdings, General Manager Chang Ching-Cheng 1
5 IHealth CTBC Bank  venture capital, Deputy General Manager Chiu Ming-Hui 1
6 MOOREdoll Sunsino Venture Group, Chairman Wang Wei-Chung

Vertex Venture Holdings, General Manager Chang Ching-Cheng

CTBC Bank venture capital, Deputy General Manager Chiu Ming-Hui

Initial venture capital provider and partner

4
7 Zuvio Initial venture capital provider and partner

Sunsino Venture Group, Chairman Wang Wei-Chung

2
Total 15

Follow-Up

No Company Follow-Up
1 WritePath Inc. Currently does not need funding
2 Changee Currently operating normally
4 LBSTEK Inc. • Received NTD 1.2 million from the Taipei City Youth Entrepreneur Loan, NTD 1 million from the Taipei City SBIR, and NTD 1.1 million from the Department of Commerce (Ministry of Economic Affairs) SIIR.

• Collaborating with Qisda and Hello Kitty agent in producing customized digital cameras.

• Collaborated with the Office of the President (Republic of China) and Ministry of Foreign Affairs to give paper cameras as gifts for foreign VIPs.

• Worked with the National Cultural and Creative Gift Center, Yuanshan Cultural Pavilion, and Park Lane by CMP.

• Received third place and USD 2,000 in the 2014 GLOBAL TIC Entrepreneur team group.

• Received first place in the Ministry of Culture’s 2013 Cultural and Creative Add Value Expert Competition, technology and design category.

• Currently operating normally and is in negotiation with investors.

5 IHealth Currently operating normally and is in negotiation with investors.
6 MOOREdoll Currently has no funding pressure and does not need venture capital investment. Currently operating normally.
7 Zuvio • Received first place in the digital content and publishing category of the Ministry of Culture’s 2014 Cultural Creative Star Innovation Added Value Competition.

• Currently does not have funding requirements. Working with BC Television’s The M Riders in 2015.

• Changed the name to MOOREdoll in November and self-added capital to NTD 17 million.

Currently operating normally and is in negotiation with investors.

8 Wulink Cultural Creative • Changed to a “Co, Ltd.” in October 2014.

• Received second place in the in the digital content and publishing category of the Ministry of Culture’s 2014 Cultural Creative Star Innovation Added Value Competition.

• Received first place in the Taiwan Cloud Valley Cloud Leopard Cultivation Project.

• Currently operating normally and is in negotiation with investors.

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Innovation and Creativity Group

 

Gold medal: Talk-Now (Hong Kong)

Award: NTD 50,000 award, one commendation, one trophy

Silver medal: PM2.5and TSP monitoring equipment (Beijing)

Award: NTD 30,000 award, one commendation, one trophy

Silver medal/Bronze medal: CodeMe (Taiwan )

Award: NTD 20,000 award, one commendation, one trophy

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