Supervised by the National Science & Technology Council (NSTC) and organized by the Science & Technology Policy Research and Information Center (STPI), the "From IP to IPO (FITI) Program” held its first-batch finalist awarding ceremony for 2024 on June 28. The teams "NTU Water Quality Smart Detection Team” (台大水質智慧檢測團隊), "Bu Li Bu Chi" (不璃不棄) and "Needle Hernia Beauty" (針疝美) were honored with the Outstanding Entrepreneurship Award. Each team received a startup fund of 1 million NTD sponsored by enterprises. This not only recognizes entrepreneurial excellence in high-tech certification but also serves as a crucial foundation for innovative academic and research teams to enter the market.

(Above) Group photo taken in Ceremony

In the face of technological innovation and market changes in the digital era, global demand for new technologies becomes increasingly urgent. Every country is committed to accelerating technological innovation, with academia and research institutes serving as the prime source for national pursuit of innovative technologies. The “FITI” Program serves as a crucial platform for technology diffusion in academia and research institutes. Through a 6-month training mechanism, it assists academic and research teams in expanding the impact of innovative technologies.

(Above) Senior Investment Manager Tzi-Fang Chang of Acer (far left) and Director-General Bou-Wen Lin of STPI (6^th from right) presenting the Outstanding Entrepreneurship Award to the "Bu Li Bu Chi" (不璃不棄) team

Since 2013, STPI has been promoting the "FITI” Program for over a decade, dedicated to discovering and nurturing competitive startups and young talents. The FITI deeply cultivates expertise across various fields and facilitates connections with Science Parks in Taiwan and experts both domestically and internationally. During the training period, the FITI provides essential early-stage commercialization guidance, focusing on three critical foundations: (1) patent strategy, (2) financial assessment, and (3) precision of profit modeling. Academic and research teams learn commercial logic through two business training camps and five practical courses. The current batch of emerging startups, after undergoing professional training, also showcased outstanding technical capabilities and excellent training outcomes at the award ceremony.

(Above) Senior Executive Officer Chao-Min Wang from Department of Foresight and Innovation Policies in NSTC (far left) and Chairman Stan Shih of StanShih Foundation (far right) presenting the Outstanding Entrepreneurship Award to the "NTU Water Quality Smart Detection Team" (台大水質智慧檢測團隊) team

In this batch, academic and research teams are driven by passion to conduct various R&D efforts, determined to use scientific and technological innovations to address market pain points. Out of 35 outstanding teams who underwent 6 months of training, the 7 most potential teams advanced to the final selection. Ultimately, the judging panel evaluated them based on market trends, technology readiness level, their determination of entrepreneurship and other factors, selecting 3 teams as recipients of the "Outstanding Entrepreneurship Award."

(Above) The Managing Partner of Startup Island TAIWAN as well as General Coordinator of FITI Program Amanda Liu (far left) and Assistant Project Manager Yu-Hsuan Huang of TSMC (far right) presenting the Outstanding Entrepreneurship Award to the "Needle Hernia Beauty" (針疝美) team

To date, the FITI Program has nurtured over 908 startup teams, resulting in the establishment of 545 companies and catalyzing over 9.8 billion NTD of entrepreneurial funding from private sector. It serves as a vital bridge between early-stage academic and research startups and private industry. The NSTC aims for these startup teams to adopt a global perspective and innovative spirit from the outset of their entrepreneurial journey. Faced with the digital transformation wave, they are encouraged to leverage forward-looking technologies and interdisciplinary resources to address global challenges and drive sustainable growth in Taiwan.