I mostly just look at the local ecosystem as well, connecting to the Silicon Valley. If you would like a more detailed comparison to Singapore, to Japan, and to Korea, that would be the role of the investment officer of the ASVDA.
Well, the point of this investment is to look at the local value chain, and I don’t really know whether the national investment company, or national-level investment companies work in Japan and Korea.
I can look at both sides of things, and it’s structurally very different. I wouldn’t compare one to the other. There is a sovereign investment...
On the other hand, the Singaporean government is run more like a company than the Taiwanese government. [laughs]
Singapore has its own sovereign fund. I wouldn’t comment too much about Singapore because it’s quite different. It’s not at arm’s length with the Singaporean government.
The Taiwania is too soon to say. They’ve literally just formed.
It is.
Mm-hmm.
Something like 1.5 billion NT dollars.
The larger medium enterprises, but when it was first set up, it also said small enterprises can apply if they have a good enough plan for digital transformation.
Medium enterprises, actually.
Larger companies, yes, but encouraging them to do digital transformation.
There’s another one that is currently being reviewed that is a biotech company. That was in July. I think that’s it, actually. Most of it hasn’t been...
I think it’s just one particular case where it has funded. It’s a textile automation company.
July 26th.
They were formed for more than a year now. It was formed in...
The middle one, the industry transformation one.
The first case where it actually made the investment was actually in June, so not too long ago.
That’s fine.
The second one, the transformational one. Just a second, let me quickly find it.
Something like that, yes.
Of course, it’s an angel fund, so they are small companies. Otherwise, it won’t be called an angel fund.
It’s mostly about toward what we call circulation economy. That is to say, environmental protection, green energy, and things like that. It’s most easy to get this fund. I think one in five green energy circular economy companies gets this funding.
Right.
About 900 million in total.
About 300.
Sorry for all those technical details.
Yes.
That’s right. It’s just its operated differently. Cumulatively, it’s about 300 companies.
There is a period where there’s the old fund, but it’s still investment.
Then it dries up, and then we set up an equally-sized fund that is purely investment.
There is this old fund. Before it’s dried up, it switched from a subsidy to an investment.
It’s very technical, you see.
You don’t really want the old fund’s numbers?
Yeah, but that’s the new round of investments. There was this old fund, that was a subsidy...
No, until March. If you want the March quarter, I think that’s another 20. When you add it up, it’s about 300.
Until this March, it funded 276 companies.
The angel plan itself was established early 2014, but it was a subsidy program. It turned into an investment plan last year. There’s 276 up to previous quarter that has been approved.
The second round is.
It’s on their website. It just takes some adding up, because it’s posted quarterly. Every quarter, they very clearly say, "This is the 19 companies that we’ve given out," and so on, so there’s just some for that quarter.
All right. I only have the numbers to the previous quarter. I was trying to look at the current quarter, but I don’t have those numbers, no.
No, it’s fine. I’m just checking Asia Silicon Valley reports to get the latest numbers.
No, it’s just fine.
OK. Let me double check.
Yeah, something like that.
The angel one, by this year, I think it’s about 200 cases. It’s about 700 million or so, by NT dollars.
Each batch, for example, the previous batch, that is to say from the beginning of April to the end of June, they awarded the investment to 19 different companies, usually around a few million NTD each.
All the details for the angel one are in the website. I don’t really have the latest information more than the website.
