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The National Science and Technology Council (NSTC) in Taiwan has officially unveiled the Taiwan Chip-based Industrial Innovation Program, a strategic initiative aimed at bolstering the nation’s technological prowess and attracting foreign investment. Approved by the Executive Yuan on November 6, 2023, the program comes with a substantial budget of NT$300 billion ($9.65 billion) allocated from 2024 to 2033.
The NSTC, headed by Minister Wu Tsung-tsong, emphasized the pivotal role of semiconductors and generative artificial intelligence (AI) as the “driving forces” behind a new industrial revolution. The project seeks to harness Taiwan’s expertise in the semiconductor industry and fully explore the potential of technologies integrating semiconductors and generative AI.
Several strategic initiatives are outlined under the program to achieve its objectives. These include the establishment of the first overseas site to attract international talent and foreign investment. Additionally, efforts are underway this year to develop a large-language model to enhance Taiwan’s generative AI services. The council aims to create a streamlined pipeline for semiconductor design, wafer tape-outs, quality control, and trial production of new products, thereby reducing barriers to innovative ideas and attracting more foreign investment.
In a parallel development, the NSTC announced an investment of NT$2.05 billion this year to continue fostering high-tech research. A more substantial sum of NT$15.66 billion is planned through 2028, with a focus on encouraging research talent, supporting doctoral students, and enhancing the overall research environment. The subsidies will benefit approximately 16,000 individuals, providing monthly support for researchers and a wage hike for assistants.
To make Taiwan more attractive to foreign professionals, the NSTC plans to collaborate with the Ministry of Labor and the Ministry of the Interior. The goal is to simplify the process for foreign professionals to apply for residency and work permits, thereby facilitating their participation in Taiwan’s dynamic tech landscape.
The NSTC’s initiatives align with Taiwan’s broader strategy to reinforce its position in the global technology landscape, fostering innovation, and attracting top talent and investments.