Acer Group founder Stan Shih
Creating a 'Silnnovation Island'
Acer Group founder Stan Shih proposes that Taiwan should evolve into a "Silnnovation Island", with the Taiwanese market serving as a model platform for the world. Following are the key points of Shih’s speech:
Creating a 'Silnnovation Island'By Pei-hua Yen
From CommonWealth Magazine (vol. 602 )
Taiwan should position itself as a "Silicon Island" and strive towards the goal of a "Silnnovation Island" if it intends to revive the prosperity it enjoyed as a "Technology Island."
Taiwan’s semiconductor contract manufacturing is already ranked No. 1 in the world, granting it "Silicon Island" status. Silicon is not only at the core of future innovation, it is also a vehicle for innovation. With an open Silicon Island platform, Taiwan would become a friend of global innovation.
Asia is the fastest growing region in the global economy and the world’s largest market. As a 'Silicon Island’, Taiwan can position itself as the "Silicon Valley of Asia." But being Asia’s Silicon Valley does not signify the old 'science park'way of thinking, but rather an environment featuring talent and industrial clusters, diverse sources of capital, livable communities with good schools, a culture tolerant of mistakes, and constant innovation.
Government Should Take Lead
I suggest that we take the high-tech clusters of Taipei, New Taipei City, Taoyuan, and Hsinchu in northern Taiwan and expand them into a "quasi Silicon Valley", because all commercial activities, schools and talent are concentrated here. If we are able to provide an innovative environment, we can create new values in such areas as innovation in business models and cross-industry integration.
We should stimulate the market through governmental demand in ways such as promoting intelligent cities, which could encourage numerous innovative applications and create a great deal of new value.
In the future, the government should come up with a model for "quasi investment incentives" to substitute its outdated investment incentive policy in order to encourage international talent to come to Taiwan to live and work. We should, for instance, create an environment and incentives that make international talent want to live in Taiwan, including dependent care such as child education and other accompanying measures. Furthermore, we need to encourage angel investors, venture capitalists and private equity funds to come invest in Taiwan.
Translated from the Chinese by Susanne Ganz