Taiwan Tech Arena Program Request for Proposal to Accelerators Industrial Technology Research Institute Taiwan February 8th, 2018
The “Tech Startups Campus Program” (the “Program”) is the flagship startups program funded by Ministry of Science and Technology, Taiwan. The Program is chartered to contribute to building an energetic international technology startups ecosystem and helping startups be successful through setting up an international startups campus and bringing in accelerators to recruit startups and open programs in the campus to help startups get nurtured, accelerated, connected with international ecosystem and facilitate the cooperation between startups and industries in the campus. Accelerators can apply by responding to the request for proposal (“RFP”). Accelerator gets admitted into the Program will be long term partner of the campus and Taiwan startups ecosystem, work with the Program to run international marketing and promotion for the brand and awareness of Taiwan startups ecosystem.
International (defined as headquarter based outside of Taiwan) or Taiwan-based accelerators with its Taiwan-based legal entities are eligible for the Program. The applicants should possess capabilities and credentials in systematically supporting startups accelerated.
International accelerator applicants should be able to provide a long-term revenue model in the campus and the methodology to connect Taiwan and international tech ecosystem, including but not limited to setting up investment fund specifically focusing on connecting Taiwan technology startups ecosystem with global ones, training and developing Taiwan accelerator talents, and hosting related events or programs.
Taiwan-based accelerator applicants should submit a program in collaboration with the international accelerator, provide a long-term revenue model in the campus, and a methodology to connect Taiwan and international tech ecosystem. The collaboration relationship should be specified during the application. For those international accelerators with joint ventures or investment in Taiwan-based accelerators that are able to create a plan to systematically develop accelerator talents in Taiwan will be preferred.
Strong international deal sourcing and accelerating capability: including but not limited to deal sourcing quality and quantity, training methodology and allocation of the resources in the Program
Diversified international mentors and extensive industry network
Extensive investment and investor networks
Solid tracking record and network that match with the technology domain focus of the Program, which are AI, software and semiconductor
Creating external economic benefit: the capabilities to work with Taiwan startups ecosystem and industry to help create external economic benefits
Expertise in commercializing the technology research outcome
Rights and Obligations
The Program will set up a review committee whose function is to evaluate the applications. Once the applicant gets the admission, it will be granted for partial financial supports, including program operation expense and incentives to accelerator’s seed investment to startups in the campus.
Support for Operation Expense: the review committee will decide the amount of the financial supports to accelerators based on the rationality of the budget (e.g., the quality and quantity of the startups in the Program and the budget) and will make reviews on an annual basis to decide the coming year’s support. The support ratio will be capped at most at 50% of the operation expense in 2018, 45% in 2019 and 40% in 2020.
Incentives to Investment: the Program will reimburse accelerators based on the amount of investment to startups in the campus. The reimbursement amount of every startup investment will be capped at 40% of the investment amount and will not exceed NT$2.4Million to each startup team. The investees (startups) must have legal entities based in Taiwan. Accelerators can only apply for the reimbursement once per investee (startup). Once an accelerator submits its proposal, the review committee will review whether reimburse or not on a three monthly basis. The ceiling of the reimbursement will be decided by the Program management office (ITRI) according to the Program’s actual performance.
Accelerators should provide a three-year operation plan in detail, including long-term business activities in the campus, and the scope of work, such as program terms, international resources connection, expected outcome and budget planning. Still, accelerators should submit regular reports to the Program management office (ITRI), as well as following the review process set up by the Program management office (ITRI) every year.
Core member(s) of the accelerators should be located in the physical space set up by the Program.
Recruit and accelerate at least 10 startups teams every year, and at least 20% of which successfully raise funds after one-year training by the accelerators, acquiring orders from big enterprises or establishing technology cooperation deals with big enterprises.
Work with the Program management office (ITRI) to jointly plan and execute roadshows, industry connection activities and international marketing activities. • Track and monitor consecutively the status of the startups in the Program, and provide Program management office (ITRI) official reports regarding the progress of the startup teams.
Accelerators should follow all the space use rules set up by the Program management office (ITRI). All the damage or penalty occurred due to the fault of accelerators or the startups of the accelerator program should be covered by accelerator.
Accelerators are not allowed to charge startups in any condition while the startups are based in the campus during the Program.
The review committee will evaluate the outcome of accelerator program execution on an annual basis. The Program management office (ITRI) has the right to terminate the cooperation contract with accelerators if the outcome is below expectation.
Request for Proposal (RFP) Review Process
The RFP is open for application upon announcement. Applicants should at least provide presentation in English (Chinese optional) covering all the requirement listed above and send the presentation to email@example.com. The application will be closed on March 2nd 2018, 5PM, GMT+8.
First review: the Program management office will review the qualification based on the application document(s). The office is due to notify the applicants on March 8th 2018 if they are admitted to on-site review.
On-site review: the Program management office will organize review committee to conduct on-site review. The dates and format will be provided to the applicants admitted to on-site review separately.
The review committee will decide the final list of accelerator(s) admitted to the Program and respective support ratio.
The Program management office (ITRI) reserves the right to modify, explain and terminate the request for proposal at any time without prior notice.
The timeline of granting the financial supports and the required document (e.g. reports regarding the progress of the startup teams and related activities) will be elaborated and scrutinized in the formal contract between the Program management office (ITRI) and accelerators admitted to the Program.
All information of the RFP will be announced at Ministry of Science and Technology website, Taiwan Technology and Innovation Arena Program website, and Taiwan Innovation and Entrepreneurship Center website.
Mr. Rich Fuh