The survivability of startup businesses generally hinges on feasibility of their business models and marketability of their products/ services and, in this respect, enterprises can provide experimental sites for feasibility and marketability evaluation, according to Vincent Tseng, CEO for Taidah Entrepreneurship Center (TEC) at National Taiwan University (NTU).
Tseng was speaking at 5G/Innovation Summit 2019 jointly organized by the Taipei City Government and Digitimes on November 25.
To catch up with technological development, many enterprises look for startups' innovations by making corporate venture capital investment or setting up innovation labs, accelerators/incubators, Tseng said.
Under the cooperation, enterprises and startups are complementary to each other: Enteprises have resources but find it difficult or are reluctant to make risky changes, resulting in a lack of innovations; startups have innovative ideas and are willing to face challenges, Tseng explained.
In a bid to provide experimental sites for startup businesses, TEC NTU has partnered with local enterprises such as AU Optronics (AUO) and E.Sun Commercial Bank since January 2019, Tseng noted.
Vincent Tseng, CEO for NTU's Taidah Entrepreneurship Center
Photo: Digitimes staff, November 2019