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President Ma meets global economic trend watcher Chris Anderson
2013-11-13

President Ma Ying-jeou met on the morning of November 13 with global economic trend watcher Chris Anderson. During the meeting, the president explained the government's efforts to promote industrial innovation, and proclaimed that in the future a "hidden champions group of enterprises" will be created. At the same time, Taiwan is working to create a startup ecosphere, he remarked.

In remarks, the president first commented that Mr. Anderson has made quite a name for himself in the technology community, and was named one of the 100 Most Influential People in the World by TIME magazine in 2007. Mr. Anderson, President Ma said, developed the "long tail" theory and the "freemium" theory, both of which have been confirmed in the marketplace, adding that Taiwan has benefited from these theories. In addition, he has promoted the concept of the "age of makers," which has encouraged many young Taiwanese and shows that Mr. Anderson has changed the world with his "theories" and not "products," the president stated. He expressed hope that Mr. Anderson would exchange ideas on strengthening innovation with many people while staying here in Taiwan.

President Ma further told Mr. Anderson about his visit to Tokyo Fashion, a local e-commerce site selling women's apparel, for proving the arrival of the "age of makers." The young couple who founded the company, said the president, have tapped into their innovative potential to take startup capital of NT$50,000 and turn it into a major e-tailer that boasts annual revenues nearing NT$2.5 billion. Each week, he noted, the company sells over 10 million items, and has more than 250,000 regular customers. This proves that through innovation and hard work, people can create unlimited business opportunities, the president commented.

President Ma stated that Taiwan is a leading manufacturer of computer hardware. For instance, he said, it is the world's largest producer of seven products, and for four of them – notebook computers, motherboards, LCD monitors, and tablet devices – have a global market share of over 60%, which highlights the important position of Taiwan's information industry in the world marketplace. The president further noted that the output of Taiwan's information industry this year has risen from last year, and is expected to reach US$150 billion.

President Ma mentioned that according to Mr. Anderson, the world is entering a third industrial revolution because the increasing maturity of 3D printing and laser cutting technology is putting production and sales tools in the hands of individuals. The president said that Taiwan uses laser processing equipment in the manufacture of electronic parts and components, semiconductors, flat panels, and metal products, and the value of these items surpasses US$10 billion. The business opportunities associated with manufacturing and applications using this technology are enormous, he stated.

Intense global competition, said the president, makes it critically important that Taiwan's industry transform and upgrade. He commented that industry here should not be a follower, but an innovator. Taiwan must switch from an efficiency-driven economy to an innovation-driven economy, he remarked, adding that better innovative capability and more rapid creation of added value will promote development of the economy.

As for the substantive measures being carried out by the government at this stage to promote industrial innovation, President Ma stated, the Ministry of Economic Affairs has adopted the "hidden champions" concept of German economist Hermann Simon. Last year, the president said, Taiwan began promoting a "Champion Enterprises Project." To date, US$10 million has been spent on this project and many resources have been integrated to support the initiative, he said, adding that 74 enterprises have been included in this plan. Another US$10 million is slated to be spent next year, which will bring a total of 150 high-potential companies into the initiative, with the goal of having them be in the top 10 in their respective industries in the world, he stated. This will create a "hidden champions group of enterprises" from Taiwan and at the same time will help to create a startup ecosphere, he commented.

President Ma also told Mr. Anderson that the World Economic Forum in its Global Competitiveness Report 2013-2014 released in September ranked Taiwan 12th, up one place from last year and fourth in Asia behind only Singapore, Hong Kong, and Japan. Also, the president said, Taiwan's ranking in the "innovation capacity" category rose six places from last year to eighth in the world and second in Asia behind only Japan, he said.

The president further noted that according to the Global Entrepreneurship and Development Institute's Global Entrepreneurship and Development Index (GEDI), which scores entrepreneurship across countries, Taiwan has ranked in the top 10 for three consecutive years. In the 2014 GEDI rankings issued in September, he added, Taiwan ranked seventh among 121 nations surveyed and was the top-ranked nation in Asia, which shows that Taiwan's innovation ability is becoming stronger all the time.

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