The Small and Medium Enterprise Administration(SMEA), Ministry of Economic Affairs(MOEA) Taiwan
"The Small and Medium Enterprise Administration(SMEA), Ministry of Economic Affairs(MOEA) organized the No. 392 Steering Committee for the Small Business Innovation Research Program (SBIR) in which it reviewed and passed subsidies for innovative technology/service research projects for 5 projects in the services and culture creativity sector, 5 projects in the machinery sector, 1 projects in the electronics sector, 1 projects in the information communications sector, 1 projects in the biotechnology and pharmaceuticals sector, and 2 projects in the consumer goods and chemical industries sector. The revitalization plan for SMEs affected by the COVID-19 epidemic reviewed and passed 1 projects in the innovative service area, totaling 16 projects proposed by SMEs.
SMEA stated that the projects passed in the No. 392 SBIR Steering Committee will increase the subsidized companies' investments in R&D expenditures by NTD 33.094 million, among them, for SMEs affected by the COVID-19 epidemic, an additional subsidy of NTD 1.04 million is provide to help maintain their core technology and business model innovation capabilities. SMEA are expected to motivate SMEs in investing more R&D human resources. The SBIR is promoted to incentivize and assist R&D activities for SMEs to achieve sustainable development and growth. It also seeks to establish a comprehensive industry system based on the R&D outcomes and promote economic development in Taiwan.
Since the SBIR was launched in February 1999, a total of 7,669 innovation and research projects have been executed. The government has provided subsidies of over NTD 12,414.656 million and motivated NTD 23,233.941 million in investments by SMEs. The SBIR has made significant contributions to elevating the technology proficiency of SMEs, and facilitating the international competitiveness and transformation of domestic industries."