PUBLICATIONS & REPORTS

Contents Introduction

This study focuses on ITIC, a 100% venture capital (VC) subsidiary of “Industrial Technology Research Institute (ITRI)” of Taiwan, and analyzes its contribution to Taiwan’s industrial development, especially its efforts to promote startups. Founded in 1979, ITIC was the first VC and is still one of the leading VCs in Taiwan. ITIC is tasked with cooperating with ITRI in terms of funding and project evaluation for the commercialization of research results, technology transfer, 2 and spin-off companies. ITIC has been involved in many of the establishment of spin-off companies from ITRI in the semiconductor and other high-tech industries, as well as supporting the establishment of startups by ITRI researchers. Subsequently, in addition to the original fund funded by ITRI, ITIC began to manage multiple funds launched jointly with external investors, and the share of investments other than ITRI-related ones became the majority. The network of non-ITRI cooperation partners has been expanding, and overseas investment is increasing. In recent years, in response to the general trend of emphasis on startups, ITIC has begun to promote its own startup-supporting projects while collaborating with ITRI. In this study, I investigate the business development of ITIC in detail, and finally depict it as a business development story in an easy-to-understand manner.