Abstract
According to World Economic Forum data, if an area’s average income per capita is over 9000 US dollars, then knowledge and technological innovation will be the most important forces driving its economic growth. In Taiwan 98% of the companies are small and medium enterprises (SMEs), and they play a fundamental role in the sustainable development of Taiwan’s economy, but due to limited funding, very few of them have established research and development (R&D) departments. Over 70% of the R & D resources in Taiwan are held by universities, which have become hubs for new knowledge and technologies. Through university-industry collaboration, original and breakthrough ideas, inventions, and innovations are systematically channeled from universities into industrial applications and used to develop an entrepreneurial economy. This method has been proven effective in many developing countries. This paper examines how the government policy helps university incubators enhance R & D ability and subsequently promote production efficiency and product quality.
Highlights
According to the National Business Incubation Association [1] business incubators help entrepreneurs translate their ideas into workable and sustainable businesses by guiding them from the inception to being able to become a growing and thriving business
The Small and Medium Enterprise Administration (SMEA) set up regional service networks to better meet the needs of local businesses and help Taiwanese Small and Medium Enterprises (SMEs) and micro-enterprises survive the impact of the global economic crisis; key emerging industries identified by the Executive Yuan were selected to set up dedicated incubation networks for the industries of biotechnology and medicine, green energy, culture & creativity, and information & communications technology applications; while incubators were encouraged to boost their incubation capabilities through resource sharing
In order to understand the results of incubation policy in Taiwan, we listed three national university incubators: National Taiwan University (NTU), National Chiao Tung University (NCTU) and National Cheng Kung University (NCKU)
Summary
According to the National Business Incubation Association [1] business incubators help entrepreneurs translate their ideas into workable and sustainable businesses by guiding them from the inception to being able to become a growing and thriving business. This is being used extensively to tap the expertise and resources of the private and public sectors in order to reach out to the numerous SMEs. The network includes universities, technical colleges, training institutes and centers, Chambers of Commerce and business associations, banks and financial institutions, consultancies, large companies and Government agencies. The network includes universities, technical colleges, training institutes and centers, Chambers of Commerce and business associations, banks and financial institutions, consultancies, large companies and Government agencies This has resulted in assistance from both the private and public sectors and has improved the performance of SMEs and transformed them into more vibrant organizations with innovative ideas, better management and more responsive corporate structures. The APEC Cener for Technology Exchange and Training for SMEs is intended to support the sustainable development and growth of SMEs in the Asia and Pacific region and at the same time make them globally competitive
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