Taiwan launches a US$388 million 5G Innovation Hub at Kaohsiung
- Taiwan launches US$388 million 5G Innovation Hub to facilitate 5G and Artificial Intelligence testing.
- Various incentives will be made available to participating companies, including:
- Zero-interest corporate loans
- Wage subsidies
- Lower taxes and free office space
Taiwan launches a 5 year investment plan to build a US$388 million 5G Innovation Hub, facilitating 5G and Artificial Intelligence testing.
The 5G Innovation Hub looks to push Kaohsiung into becoming a “technology smart city” with the hub playing host to 50 local and foreign companies, as well as 120 start-ups .
In total, this is expected to generate US$ 1 billion of new investment and create US$ 4 billion in production value.
Various incentives are available for participating companies such as
- Zero-interest corporate loans for investments exceeding US$ 14 million and a 25 percent wage subsidy for workers
- Companies setting up in the hub will be able to use the space rent free for the first two years, with a 40% discount for the third and fourth year before it drops to 20% in the fifth and sixth year.
- Housing taxes will also be waived for participating companies for a period of five years
The government plans to implement a few other initiatives such as the following to enhance Kaohsiung status as a Asian tech hub for innovation.
- Expanding the Kaohsiung Software Park
- Launch various global accelerator and talent cultivation programs
- Finalize 5G network and smart city infrastructure
- Market leader in the promotion of conferences and exhibitions