Inviting Overseas Venture Capital to Share Investment Opinions to Help Taiwan Obtain International Space Business Opportunities
The Industrial Development Bureau, Ministry of Economic Affairs, promotes the “Beyond 5G Low Earth Orbit Industry Development Plan” to continuously assist Taiwanese companies to develop overseas. This year, in cooperation with Infinio Lab Taiwan Limited, the “International Space Venture Capital Seminar and Investment Matchmaking Forum” was held on November 9th. In addition to sharing the Taiwan government’s policy and future plans with overseas media and enterprises, this event also invited overseas space investment institutions, including the Los Angeles Venture Association, Syndicate 708, Morpheus Ventures, and professional space investors to share the current trends of international space investment online. In addition, this event also invited domestic and foreign space teams, including Tensor Tech, Rapidtek, BridgeComm, and SpinLaunch, to participate in case sharing and matchmaking with Taiwanese and overseas enterprises, and the venture capital representatives participating in the event were expected to exchange first-hand space investment and trends in order to bring the latest international trends and business opportunities to enterprises and venture capital communities interested in the space industry.
Senior Engineer at Electronic Information Group of Industrial Development Bureau, Ministry of Economic Affairs, Wei-Hua Tseng said, “Since 2020, Industrial Development Bureau, Ministry of Economic Affair, has improved the supply of domestic industries through R&D subsidies, investment deduction incentives, and financing assistance; and through the collection of dynamic international information, share international customer development and demand information with Taiwanese manufacturers; at the same time, by participating in international exhibitions, it helps Taiwanese manufacturers in international marketing, and then enter international supply chain.”
Domestic and Foreign Space Companies and Venture Capital Institution Gather to Discuss Industrial Business Opportunities and Start Matchmaking
From the launch of rockets to the sky full of satellites, and from the orbital space station expansion to the moon base and even the Mars immigration plan, we can expect that the new space industry will be an important global industry in the future. According to research firm Trend Force, the output value of the global satellite industry is estimated to reach US$308.3 billion in 2023. Among them, COTM(Communication-On-The-Move), with low orbit satellite as the core, is expected to be the main track of key space application service in recent years. Related technical can be used in Internet of Thing, Internet of Vehicles, smart logistics and smart transportation, and other fields, bringing breakthrough innovation to various industries and market business opportunities.
Darren Eng, Chairman of the venture capital association in Los Angeles, which is the most important city in the space industry in America, mentioned in the fireside chat of this event, “Being in Los Angeles, the most important city in the space industry, I think we are about to usher in the economic growth of the space industry, which is an inevitable future trend. With the development and progress of various technologies, we see more and more feasibility of space technologies. This is an exciting time.”
Eric Lin, CEO of Infinio Lab Taiwan Limited, who has long assisted Taiwan companies, the government, and the connection of the international space community, also said, “Global space industry is about to enter a critical period of mass production. Taiwan has the best supply chain system in the world, and global space enterprises are willing to cooperate more deeply with Taiwan. Today’s event enables Taiwan to establish contact with European and American venture capital institutions and start-up companies. Through direct dialogue and information exchange, both sides can better understand other’s advantages in the space industry and improve the world visibility of Taiwan’s enterprises’ strength.”
With the full support of the Taiwan government, it is a reasonable and promising layout to participate in the trial-and-error process of the new space industry at an early stage to strive for unlimited possibilities in the future. Several important countries, including Japan, South Korea, India, Australia, and other overseas enterprises and investment institutions, are striving for the right to speak in the industry through joint research and development, joint manufacturing, or even direct capital investment with the new space industry. They even use the method of investment binding orders to become future participants in the supply chain. With the support of the Taiwan government, we expect Taiwanese manufacturers will cooperate with the government’s preferential and subsidy policies to accelerate the process and become a key role in the new space industry.
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