The Taipei City government is committed to promoting the "International Startup Soft-Landing Program" and the Demo Day 2.0 was held on November 18, 2022 by the Taipei Entrepreneurs Hub (TEH). Thirteen startup teams from home and abroad showcased their innovative ideas in some of the hottest technological trends such as fintech, blockchain, ESG and Web3.
On behalf of the city government, Chung-Chieh Lin, commissioner of the Department of Economic Development, welcomed all startup teams to this event. He also indicated that Taipei City provides one-stop service for the startup community and is open to all startup teams throughout the world. He hopes that all the teams could find the best support and opportunities to grow here.
Molly Jou, director of TEH, introduced the activities they have organized this year, including inviting international entrepreneurs and businesses to share their startup experiences, and organizing startup-venture capital matchmaking events for entities from home and abroad. From these events, TEH has fostered a close working relationship with the international venture capital community.
Blockchain Sparks Rapid Fintech Growth, and New Business Models Bring New Ideas
Nicholas Yang, head of Cathay Financial Holding's blockchain team, attended the event as a fintech expert. He explained that for the financial industry, where decision-making traditionally takes place at the headquarters, decentralization technology has brought revolutionary opportunities for innovation. Blockchain technology, in particular, has currently received the most attention. Moreover, startups are bringing new business models to the banking industry. It has also brought collaborative opportunities for Cathay Financial Holding and the startup teams. He hopes their partnership could help accelerate the digitization of the financial service industry.
Ensuro, an Italian startup team, uses decentralization technology to provide solutions for the insurance industry. By using smart contract system via blockchain technology, an estimation model and asset risk analysis can be used to assess the liquidity of insurance collaterals and pledges. Its services also involve cryptocurrencies as the application of assets.
HedgeSPA is a Singapore startup company that provides smart analytical solutions for private equity investments. It analyzes market movements through massive usage of blockchain technology and AI algorithms. The founder of HedgeSPA, who studies the performance of private equities, holds a PhD in finance, thus giving the company an advantage in professional expertise. HedgeSPA hopes to find local partners to create new business opportunities.
Germany-based MotionsCloud sets its target on the digital solutions for insurance claims. Currently, its initial market has been focused on vehicle insurance, housing insurance, or baggage claim insurance for the airline companies. Via automotive IoT sensors and cellphone photos, it uses image processing and cloud-based platforms to assess the reasonableness of claims and provide verifications for these claims.
Hailing from the UK, Stratiphy is a software that assists shareholders or financial investors to perform stock analysis and evaluations. It searches for recommended stocks or investments through blockchain technology and AI analytics. It integrates ESG data analysis and compilations in the industry to cater to the future trend, where global financial investors are paying more attention to ESG issues. The software thereby provides user-friendly solutions for new investors.
Soft Solvers Solutions (agiliux) from Singapore, targets the insurance industry in Asian countries and it is committed to providing solutions for digital transformations. It solves the cumbersome processes of having many documents and much manual filing in the insurance industry. Currently, it has been gaining traction in Malaysia, Indonesia, the Philippines, Vietnam and India.
CoolBitX is a startup team that seeks to popularize cryptocurrencies. Founded in Taipei, it provides a credit-card-sized and highly secure Bluetooth-enabled storage device dedicated to storing personal encrypted currency wallets. It also undertakes the management of the corresponding cryptocurrency service market (Market Place) and provides diverse cryptocurrency platforms and B2B services.
Commercial Property Company Focuses on ESG, Bringing New Opportunities to Startups
Jeff Tsai, chairman of GlobalTown Development Corporation, indicated that he came from a massive and traditional commercial property industry. As the ESG trend emerges, his company has developed a strong need for digital transformation and he hopes to partner with startup teams to find collaboration opportunities in the commercial property market.
Hailing from Tel Aviv, Israel, Rootie Robot is a startup that has developed robot technologies for self-driving vehicles. It has developed sensors and integrated regular surveillance cameras to measure important environmental parameters and physical quantities. All of the technologies serve to provide evaluation and form a detection system for the on-site environment. It uses a massive amount of image processing, artificial intelligence, and cloud technology systems, and sets its target on ESG surveillance and energy consumption forecasts at commercial spaces and malls. Customized services are also provided.
JGB Smart Property is a Taiwanese startup that has built a cloud-based property leasing management platform to provide comprehensive property and business management functions ranging from lease signing, billing data management, maintenance management, to integration of smart devices and installations. Its goal is to help businesses or property owners save significant amount of costs and enhance their business performance. JGB Smart Property hopes to offer strong support to businesses or property owners.
Blockchain and Web3 Innovations Shine New Light on Tourism Industry
Chia-Ching Shen, head of investment at Lion Travel, pointed out that the travel industry will be immensely affected by technological innovations. From previous successes of the Internet to smartphone apps, blockchain and Web3 will be the next turning point. He hopes innovative ideas from the startups will bring new prospects to the travel industry.
The business model of TUBUDD, a startup that manages a travel network platform in the Vietnamese market, seeks to nurture, train, and build a network of tour guides with various professional competencies. These professional individuals have become tour guides to find new opportunities, thus paving the way to customized travel options. Currently, there are more than 300 tour guides throughout Vietnam who have received training and are matched to provide services to international tourists.
Like It Formosa is another Taiwanese startup team. It is dedicated to introducing Taiwanese scenic spots to foreigners through walking tours. It recruits groups formed by foreign students in Taiwan, who act as storytellers. By providing unique travel experiences, the students engage in interactions and in-depth communications with the foreign tourists.
Choose-Eat is a startup that develops customized menus by collaborating with restaurants. It designs personalized menu systems based on consumer preferences, food and beverage quality, and nutritional value, while also creating cuisines with local characteristics. By doing so, it provides new operating and business models for customized services at restaurants.
Hepta Protocol is a team that uses blockchain and Web3 technologies to monitor how efficient social welfare donations and sponsorship money contributed by enterprises are used. The contribution from the enterprises may be channeled to schools, creating a mechanism that links academic performances to incentives. Hepta Protocol seeks to create corporate donation utilization that is transparent, traceable globally and efficient.
Tsunagaru Edutech is a Japanese startup dedicated to providing corporate education and training solutions. It employs e-learning tools to provide corporate training evaluation and enhancement in the post-pandemic era. For example, Chile has used its service to promote natural disaster response and evacuation learning program in local schools.
By matching to investors in Taipei, these international startup teams hope to find room for testing and growing their innovative ideas. They are also able to seek better and greater successful entrepreneurial opportunities, which may open doors to future collaborations.
