Through grants and subsidies provided by SBIR, the risks and costs borne by SMEs engaging in innovation and R&D activities will be reduced.
The SBIR program encourages SMEs to carry out active innovation and helps expand private-sector investment in R&D so that the results and achievements will help the country further its economic development.
In 1999, to encourage and assist domestic small and medium enterprises (SMEs) to engage in active technology research and innovation or product development, the SBIR program was launched.
By 2018, in order to encourage more innovative startups, Taiwan extended the traditional SBIR, and launched a special track for entrepreneurs.
Encourage the startup build up solid capacity on technology and/or business model in early stage.
Details: There are three stages, and each stage the program provides funding and consulting services.
Call for technological or service innovative ideas from SME. The major criteria are Startup first, Business model focus, Income/Impact as well as the motivation/risk taking capability. For each selected case, the team will have 600 thousands NT dollars and consultant services for six months. Each selected team have to deliver a business plan for next stage.
From the business plans generated in 1st stage, some will be selected through the criteria Income/Impact as well as the motivation/risk taking capability. For the winners in this stage will receive 2 million NT dollars. The required results of this stage is a MVP (Minimum Viable Product) plan.
The third stage will further select some from the teams in 2nd stage. For the winners in this stage will receive another 3 million NT dollars for help the companies to engage with channels and customers.
Not yet, the new track is still in very early stage.
In Oct. 2017, the pilot run of 1st stage, totally received 1,289 applications and selected 55 cases to subside. Now the program is still in the 1st stage.