TAIPEI (Taiwan News)—Taiwan's Asian Silicon Valley project aims to foster the nation's domestic startups by offering more resources to entrepreneurs, said Minister of Economic Affairs Chih-Kung Lee (李世光) during the opening of 2017 Asia Silicon Valley International Summit Forum at Taoyuan City on Tuesday.

In addition, to seeking aid from foreign investments and companies, MOEA plans to form three large domestic enterprises, by merging small semiconductor, IoT, and self-driving car companies to compete with global players, said Lee.

“We are still in the early stages of the Asian Silicon Valley project, and evaluating the potential jobs it will generate,” he added.

The country will implement the Asian Silicon Valley plan under a one ecosystem framework incorporating all universities, enterprises, and startups because IoT is a brand new service, said Asia Silicon Valley Development Agency Chief Investment Officer David Weng (翁嘉盛).

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