Regional expansion is paramount for startups seeking to capitalise on growth opportunities. By venturing beyond their initial markets, startups can tap into new customer bases, explore innovations, and expand on solutions to where there are market gaps that can be bridged.

Regional expansion allows startups to adapt their products or services to the unique needs and preferences of different locales, fostering greater relevance and resonance with diverse audiences. Moreover, it provides access to varied talent pools, strategic partnerships, and valuable insights into local market dynamics. The ability to navigate and thrive in different regions not only enhances a startup’s resilience but also positions it for sustained long-term success in an increasingly interconnected global business landscape. Successful regional expansion demands careful market research, cultural sensitivity, and a nimble approach to adapt to the nuances of each new market. Ultimately, it represents a pivotal strategy for startups to unlock untapped potential and achieve sustainable growth on a broader scale.

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The same can be said for emerging startups from the manufacturing powerhouse that is Taiwan. Taiwan has earned a reputation as a global tech stalwart, renowned for its innovation and leadership in various technology sectors. The island nation is a major player in the production of electronic components and devices, semiconductors, and many others. In addition to hardware, Taiwan has embraced software development and innovation, with a growing ecosystem of startups and a focus on areas like artificial intelligence (AI), cybersecurity, and the Internet of Things (IoT). The nation’s commitment to research and development, coupled with a vibrant entrepreneurial spirit, has positioned Taiwan at the forefront of technological advancements, making it a key player in shaping the digital landscape.

With its burgeoning tech startup ecosystem, innovators from Taiwan are well-positioned to explore global opportunities for expansion, especially in vibrant markets such as Southeast Asia and the Taiwan government has certainly shown commitment to providing a plethora of support.

As such, at the Singapore Week of Innovation and Technology (SWITCH) held last October 31, Startup Island Taiwan launched the “Taiwan Tech Solution Day in Singapore” which featured a series of panel discussions on various topics such as 5G, AI, Cybersecurity, and Smart Cities to help Taiwanese startups gain exposure in the ASEAN market. The event was attended by special guests including Shien-Quey Kao, Deputy Minister of the National Development Council, Lih-Chung Chien, President of the Taiwan Stock Exchange (TWSE), and Chen-Yuan Tung, Representative of the Taipei Representative Office in Singapore.

Taiwan’s support for regional expansion

Showcasing some of the most exciting Taiwan startups that have brought their innovations to the Southeast Asian market, four of the nine startups from Taiwan’s the Next Big were featured at the event. These startups are particularly exemplary for achieving outstanding success in bringing Taiwan’s Smart City services to ASEAN.

• Building Trust through Technology: Domestic software company Gogolook successfully entered the Malaysian market by securing anti-scam project orders.
• Bridging Japan and Southeast Asia: CyCraft deployed its solutions in Japanese corporations like Mitsubishi and Hitachi and secured investments from Singapore’s Temasek Holdings.
• Enhancing Urban Convenience through Data: FunNow strengthened its local services by acquiring food delivery platforms in Thailand and Malaysia.
• Pioneering Future Smart Cities: Tron Future’s unmanned drone defence systems, low Earth orbit satellite technology, and synthetic aperture radar penetrated the space market and actively explored 6G technology and the Southeast Asian market.

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At the conference, AppWorks, a prominent venture capital firm based in Taiwan, highlighted that the markets in Taiwan, Singapore, Malaysia, Vietnam, and the Philippines have showcased diverse collaborative management and innovation models. Exemplifying this is PartiPost, featured as one of the panellists, which showcases the effective utilisation of the combined strengths of Taiwanese and Singaporean teams in the realm of influencer marketing technology.

At this year’s SWITCH which ran from October 31st to November 2nd, Startup Island Taiwan set up a special pavilion with the goal of introducing some of today’s most exciting Taiwan startups to the broader Southeast Asian market and providing them with exposure and networking opportunities.

Operating primarily in Singapore, Vietnam, and Malaysia, these companies adopt a B2B2C model. They bolster local business services by leveraging Taiwan’s strengths in areas such as IoT, AI, or hardware solutions, tapping into the active industries with a robust semiconductor supply chain.

Taiwan startups at SWITCH

With a selection of over 30 diverse startups in their roster, Taiwan brought with them innovators eager to explore market opportunities in the region. In addition to their presence at SWITCH, companies that are actively expanding their presence in Southeast Asia include TurnCloud, a publicly traded company that has facilitated business real estate expansion in Malaysia and Japan by leveraging customer data, and Oriongo which uses precise 5G indoor positioning technology and has secured orders from airports across the region.

The pavilion was also split into three major categories, namely Digital Transformation, Environmental, social and governance (ESG), and Healthcare.

Under Digital Transformation, some of the companies featured at the Taiwan exhibit include AIPLUX, a cross-border IP Service through a data science platform which offers a solution for difficulties faced in commercialising new technology in Singapore’s research and industry sector. AIPLUX facilitates the circulation and exchange of intellectual property rights between Taiwan, Singapore, and the ASEAN region. AIPLUX has also expressed its intention for market expansion and a soft landing in Fukuoka through its participation in the exhibition.

Another company under this category is 3drens, a logistics data technology and IoT platform that has expanded its business by forming partnerships with five local logistics clients in Singapore, with the goal of establishing a paperless logistics delivery certification system to reduce carbon emissions and enhance business efficiency.

Under ESG, some of the companies featured were Seasonic, an IoT power management platform which has initiated collaboration discussions with power plants in Japan and factories in Vietnam, and XMight, a device-charging and power scheduling services provider, which found potential business cooperation opportunities with Singaporean companies related to low-carbon policies.

Meanwhile, under Healthcare, Taiwan fielded dentall Co., Ltd., a chain dental clinic management services provider, that has engaged with a substantial medical material procurement platform in Singapore and expressed further interest in negotiations, and iAMBITION TECHNOLOGY, a proponent of IoT long-term care monitoring devices, that has engaged with substantial system integrators and medical device companies in Singapore, showing an interest in further negotiations.

Bridging the Taiwan and Southeast Asian tech startup ecosystems

The burgeoning Taiwanese startup ecosystem has experienced remarkable expansion, aligning closely with the dynamic development of the ASEAN region. Notably, initiatives like SWITCH, extending beyond the establishment of the Taiwan Pavilion and content curation, underscores Taiwan’s commitment to showcasing its vibrant entrepreneurial landscape. This platform’s mission is to convey a powerful message to ASEAN communities, emphasising that Taiwanese startups are not only thriving in their home country but are also making substantial contributions to the progress of diverse ASEAN societies.

With robust capabilities in data, artificial intelligence (AI), and 5G technology, these startups play a pivotal role in driving innovation and enhancing the technological fabric of the region. The overarching goal is to foster more convenient and secure urban living experiences for the residents of ASEAN nations, solidifying Taiwan’s position as a valuable contributor to the broader Southeast Asian tech ecosystem.

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SWITCH serves as a testament to the symbiotic relationship between Taiwan and ASEAN, demonstrating the collaborative spirit that underlies technological advancements. By actively engaging with the ASEAN communities, Taiwanese startups aim to not only share their technological expertise but also to forge meaningful partnerships that contribute to the shared goals of progress and development.

Through this exchange, SWITCH is not just a showcase but a bridge that facilitates the integration of Taiwanese innovation into the fabric of ASEAN societies, creating a mutually beneficial environment where ideas, expertise, and advancements flow seamlessly across borders. The emphasis on data, AI, and 5G technology signifies not only the current strengths of Taiwanese startups but also their strategic vision for shaping the future of urban living in the Southeast Asian region.

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This article is produced by the e27 team, sponsored by Startup Island TAIWAN

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