Taiwan sets its sights on becoming a global hub of tech entrepreneurship and Internet of Things research and development.

The Asian Silicon Valley initiative, one of five major industrial development plans outlined by President Tsai Ing-wen (蔡英文), aims to transform Taiwan into a research and development (R&D) hub for the Internet of Things (IoT) sector as well as a global center of tech entrepreneurship. The project, which will be carried out primarily in the northern city of Taoyuan, will include a raft of measures to boost domestic innovation and international collaboration on cutting-edge technologies and applications.

The IoT refers to products of all varieties that can be connected and integrated using online networks and applications. As of July, the National Development Council was still drafting the implementation details for the IoT-focused Asian Silicon Valley initiative, though the government has laid out its broad strategy for creating a thriving innovation ecosystem. A top priority is to increase investment in smart city infrastructure.

Read the full story at taiwantoday.tw.