Executive Yuan Announced to Invest in TPTF via National Development Fund

The National Development Fund (NDF) has passed “Investment Plan for Promoting Startups” (推動創業拔萃方案投資計畫) on September 18, 2014. This is an effort to support Taiwan’s early-stage startups to connect with venture capital firms in Taiwan and overseas. NDF has passed the resolutions on January 23,2015 to invest in four venture capitals including Trans-Pacific Technology Fund (TPTF, 華美科技創業投資基金).

TPTF is a joint venture co-managed by Industrial Technology Investment Corporation (ITIC) in Taiwan and 360ip from Battelle Memorial Institute (Battelle) in the US. TPTF expects to raise US$120 million to invest in startups in high-growth industries such as advanced materials, opto-electronics, precision and automated machineries, and cloud applications. TPTF will also prioritize investments in Taiwan’s early-stage companies.

ITIC is the subsidiary of Industrial Technology Research Institute (ITRI) in Taiwan and has been focusing heavily on venture capital investments. Battelle, the parent company of 360ip, is a well-known non-profit organization for R&D and technology business, which has extensive experience in technology commercialization. Through investing in TPTF, NDF is going to utilize IP portfolio of the world-class labs managed by Battelle and back Taiwan’s startups to find international resources. This will greatly help the startups on commercialization as well as promote Taiwan’s technological development.