New ventures refer to enterprises with innovative technologies and capabilities, which are different from traditional entrepreneurship.
According to the definition of the Small and Medium Enterprises Division of the Ministry of Economic Affairs, a new enterprise includes one of the following conditions:
- Raise NT$2 million or more on a domestic or internationally recognized fundraising platform.
- Register on the Innovation Board of the Securities Over-the-Counter Trading Center of the Republic of China.
- Obtain relevant intellectual property registration or patent rights.
- Be recognized by relevant institutions as a new start-up with outstanding performance within one year.
- The person in charge has won awards in representative entrepreneurship or design competitions at home and abroad.
- The person in charge has been shortlisted or won awards in important domestic or foreign film festivals.
- Receive a subsidy of more than 2 million yuan from the central government, or a relevant subsidy of more than 1 million yuan from the local government.
- Other circumstances identified by relevant central government agencies.