Hi folks, Anyone got the info. for the recognized accelerators by Taiwan? we are thinking of applying for the entrepreneur visa.
thanks heaps
Olivia
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Accelerator? Like particle accelerator? Not sure if Taiwan cares enough about science to build anything like CERN… that we know of.
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I think he means a Startup Accelerator program. Where they give cash grants to people with ideas, in the hope that 1 idea out of every 100 is successful.
Sparklabs (https://www.sparklabstaipei.com/)
TA (https://www.accelerator.tw/about_en.html)
several associated Taiwan Tech Arena (https://www.digitimes.com/news/a20180913PD211.html)
Most are domain specific so have to find the right fit. Good luck!
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thanks guys! I will have a look, cheers!
No, I am not. Having recently arrived, I’ve been checking out the tech/startup scene.
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There is Sparklab for Biotech. I don’t know anything else about them aside from this article:
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Forgive me for assuming @greenolive’s gender, but I have a hunch that
is from Venus, not Mars. 
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So I am curious what does one need to demonstrate in order to get help from an accelerator? Do I need to submit a 3000 word essay about my business plans, testimony from financial experts about the profitability of my venture, and do a shark tank like demonstration to convince the accelerator that I am worthy of investment?
Because I very much would like some acceleration… not just for tools and supplies but also to be able to prepare marketing materials or hire marketing personnel to help get my business off the ground, as connection is something I completely lack.
Does this need to be a large scale operation that is at least a LLC but preferably a corporation, with a capital of millions of dollars? Or can this be an individual business?
AFAIK, it’s not too complicated to apply for an accelerator. You do, however, need a scalable startup business, as most of accelerators wants companies with global market potential.
Also, I’m not sure if luthier biz would be consider a startup, unless you have something disruptive on your biz model.
Well, I’m not much of a shark tank presenter… that seems to require showmanship and theatrics that is well outside of my skillset.
As for global market potential, do they want you to be the next Facebook or something? Or is it enough if you become a well known name in the field but not necessarily huge (like say Collings Guitars).
And it is disruptive to Taiwan’s market because Taiwanese are really used to out-walmart each other, engaged in a price war.
Accelerators are typically looking for young firms that have found product market fit and need capital and mentorship to scale up quickly (hiring, sales, market positioning, partnerships, etc…). Investments in this early stage are typically risky for the accelerators, so try to screen for companies that can grow rapidly and scale 10-100x or else it’s not worth the risk. That’s not to say they don’t look at niche businesses but it’s not a focus.
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What’s your business?
I’m not looking to get rich quick and grow 100x. To me that’s going to dilute my quality and also it would actually make me less competitive, as I’d be competing against giants in the industry (that I have no chance against). Also if I am to grow 100x I’d have to be spending quite a bit just to administer the company, for lawyers, accountants, etc.
You don’t need to be. As long as you can present your company’s vision in an attractive way for investors (which shouldn’t be hard if you really know you’re biz), you should be fine. Know your elevator pitch and your numbers by heart, and the rest should be easy.
Sounds like you are not fit for an accelerator, then. You have to keep in mind that they want to get their investment back either by selling their shares when you get bought out or during IPO.
If you plan to keep your biz small, it may be better to find an angel investor or consider bank loans.
BTW, not all companies need to go global and grow exponentially. Some are better fit for small size. There’s no right or wrong, it all depends on your vision and what your plan for your future.
It doesn’t serve me well to grow exponentially. My vision is to use my skills to add value to others, and growing into a multinational is not exactly going to help.
Bank loans here are hard to get unless it’s for something which the bank can repossess if you default on the loan. I heard it’s actually easier to get a loan to buy large industrial machines than it is for say a phone or a car or scooter, simply because the industrial machine can be repossessed, and plus you make money with that machine so the risk of the bank actually having to repossess it is low. Otherwise I’d have to figure out ways to prove I have income (when most of that is in cash). I don’t know how angel investors work.
Seems everything I hear about investment is “go big or go home”. As in either you invest millions or you don’t invest at all. Seems pretty risky.
No, not millions, but certainly not what I think you have to offer. Scalable is key, and your craftsman efforts are particularly not scalable.
Venture and hedge fund investors are looking to get their money back within 3 to 5 years. That’s not the kind of opportunity you have talked about before.
You need an angel investor - as has already been mentioned. It’s not about Go Big or Go Home. It’s about Finding the shoe that fits
As far as getting a loan is concerned, look into microfinancing and crowdfunding. Not a commercial bank loan. But again what you need is an Angel above all
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Crowdfunding options in Taiwan is limited, and the usual crowdfunding sites I can think of (like Gofundme) does not work outside of the US. I wish I can use gofundme because I keep hearing all the really asinine reasons people successfully gotten money on that site. Like “I messed up and I need money” kind of thing.