Taiwan proposes to spend NT$300 billion to boost chip and AI innovation

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November 2, 2023
Filip Leskovsky

Taiwan unveiled its plan to spend NT$300 billion over 10 years to boost chip and AI innovation with the Taiwan Chip-Driven Industrial Innovation Program (TCIIP). (Photo: Pixabay.com)

The National Science and Technology Council announced at a Cabinet meeting on Thursday a NT$300 billion (US$930 million) plan to invest in chip and artificial intelligence (AI) innovation over the next 10 years.

Prime Minister Chen Chien-jen (陳建仁) says the Taiwan Chip-Driven Industrial Innovation Program (TCIIP) aims to achieve several goals such as attracting international capital and companies, accelerating innovation, and bringing in more international talent.

Chen says he hopes to seize this “golden moment” to cooperate with the international community and leverage Taiwan’s strengths in the semiconductor industry to lay the foundation for the country’s future technological competitiveness. Chen adds that he hopes that Taiwan can increase its pool of talent to become an important player in global chip design.