World Economy

Taiwan Woos Tech Startups

Taiwan Woos Tech StartupsTaiwan Woos Tech Startups

Taiwan companies such as electric motor scooter firm Gogoro could hold the key to Taiwan’s economic growth, Taiwan Focus reported. In just three years, the startup, which counts Japan’s Panasonic Corp as a strategic partner and Cher Wang, the founder of local smartphone maker HTC Corp as a key investor, raised $150 million to develop the smartphone-synched bike, and a charging network for it. The Smartscooters went on sale last month, starting at around $4,100. Gogoro’s success in creating a homegrown, innovative product is precisely what Taiwan’s government wants to foster as it seeks to reduce the export-driven economy’s reliance on the island’s world-class tech manufacturing sector.