The first session of the “2020 From IP to IPO program” (FITI), implemented by the Science and Technology Policy Research and Information Center (STPI) under the supervision of the Ministry of Science and Technology (MOST), was moved to an online platform in response to the threat of the COVID-19 virus. The curtain was raised on this three-day intensive bootcamp focused on innovative planning at 9:30 on March 20. Despite COVID-19 outbreak, the 40 participating teams of academic and research entrepreneurs remained dedicated to progressing their projects and engaged wholeheartedly in the training sessions. This year’s opening ceremony saw sponsor representatives, business mentors from Taiwan and abroad, as well as advising departments from Taiwan’s science parks take part via video conference. Pre-recorded addresses from guest speakers and senior officials were also played to spur on the teams.

When giving his address, the Minister Chen Liang-Gee of MOST encouraged the teams to be bold in chasing their dreams by mentioning some of the challenges faced when implementing FITI programs of the past. The Minister reminded them to be proactive and optimistic and to take on the spirit of Silicon Valley by being unafraid of failure, as hardship often leads to the realization of potential. Minister Chen thanked the sponsors and mentors for sharing their resources and experience with future Taiwanese entrepreneurs, setting a firm foundation for the participating teams to push the nation’s entrepreneurial landscape in the right direction.

The FITI program’s honorary dean and chairman of StanShih Foundation Stan Shih spoke about the right way to be an innovative entrepreneur, sharing his core ideals of value creation, balanced interests and sustainable operation with the participants. His speech was a call to action for young entrepreneurs, buoying them to build a better future through innovation.

Also speaking at this event, Yu Ning-Ning – the vice president of the world’s largest content promotion platform Taboola – encouraged the teams to give free rein to their imaginations. Yu’s talk “No Room for Small Dreams” touched on the importance of having a broad vision and staying on top of global trends.

Each edition of the FITI program offers selected teams six months of business and entrepreneurial training while following in the footsteps of MIT Bootcamps by crafting innovation planning camps tailored to the participating academic and research teams. This year, in keeping with epidemic prevention measures, the program arranged for its various speakers to share their knowledge online, with topics ranging from business models to patents, as well as marketing and international market strategies. FITI program hopes the professional guidance and intensive training afforded them will improve the teams’ sense of unity and entrepreneurial capabilities, giving them the strength to power through any challenges they might face. Outstanding teams will receive support from Taiwan’s leading enterprises as well as two million Taiwan dollars in seed funding.

The FITI program provides an opportunity for startup teams to test their research findings in the market place, get a grip on market demand, and propel Taiwan’s economy into the future. Since its start in 2013, the program has trained 14 groups of participants, mentored 560 tech teams, nurtured the talents of 2,899 young entrepreneurs, and facilitated the founding of 190 companies, as well as brought in NT$3.6 billion in funding. FITI will continue to cultivate talent with a global perspective, providing the impetus for the development of a more innovative Taiwan.