Backbone enterprises program bearing early fruit

Offering specialized technologies and innovative services, “backbone enterprises” are a critical element in the production chain with the potential to transform Taiwan’s industries and bring new economic impetus, Taiwanese Premier Jiang Yi-huah said.

Pleased with early results of the Ministry of Economic Affairs’ (MOEA) program for developing high-potential small and medium-sized enterprises (SMEs) into the backbone of Taiwan’s economy, Premier Jiang said the key to the program’s success hinges on how well it nurtures research and development (R&D) and innovation. He asked the MOEA to station professional advisory teams at innovation incubation centers to enhance the SMEs’ innovative R&D capabilities and beef up their patent portfolios. These measures will hopefully shorten the time to see concrete results.

The premier also directed other ministries involved in industrial development such as the Ministry of Culture, Ministry of Transportation and Communications and Council of Agriculture to follow the MOEA model to reinforce the backbones of their own industries. They should select high-potential businesses in their fields and set up advisory teams within three months to expedite innovation and R&D processes and strengthen the businesses’ competitive abilities.

The MOEA said its program was approved by the Executive Yuan on October 8, 2012 to equip SMEs with the kind of technology, innovation and brand name needed to compete internationally. The main strategies are to lay a foundation for these companies, help them grow and select the best among them. The MOEA hopes to recognize 30 top SMEs as backbone enterprises, provide assistance to at least 150 high-potential SMEs, and attract investments of NT$100 billion (US$3.4 billion) to generate 10,000 jobs over three years.

Source: http://www.ey.gov.tw/en/News_Content.aspx?n=1C6028CA080A27B3&sms=E0588283EFAA02AD&s=7B4D71336B4DD3E9

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