Innovation Expert Hal Raveche: Sustaining Taiwan's High-Tech Edge

NEW YORK, NY, March 24, 2014 (Press-News.org) On February 18, 2014, Global Innovation Strategist Dr. Hal Raveche engaged with 30 highly successful Taiwanese entrepreneurs, seeking clues to the future of Taiwan's high-tech economy.

At the invitation of the Roundtable for Innovation, during a three-hour workshop in Taipei, Dr. Raveche delivered a presentation titled "Taiwan's Strategic Positioning for Economic Growth and Global Leadership."

The Roundtable for Innovation is an industry forum that seeks to advance Taiwan as a global center for innovation and entrepreneurship. Topics discussed at the February 18 workshop included higher education, R&D funding, and tax incentives for R&D and early stage investment capital, as well as the need to generate more opportunities for students to learn about entrepreneurship.

In addition, the Roundtable discussion focused on the importance of sustaining the lead in industries where Taiwan is currently in the top two as a leader worldwide, such as the IC Foundry industry, where Taiwan enjoyed a 66% global share in 2012.

Dr. Raveche is the Founder and President of Innovation Strategies International, a US-based consulting firm that assists universities, corporations and government agencies with entrepreneurship and innovation. He served for more than two decades as the president of Stevens Institute of Technology in New Jersey.

"We easily forget that Taiwan is one of the four original Asian Tiger economies," said Dr. Raveche. "There is much concern today among Taiwanese entrepreneurs that complacency may have set in with some industries that were key to past economic growth. While Taiwanese higher-education is in many respects a model for any advanced country, there is equal concern that innovative thinking and entrepreneurship must be encouraged among students to ensure future economic growth."

Taiwan's juxtaposition next to its giant cousin in Mainland China has been a natural shaping force in recent economic and regulatory policy decisions that affect risk-taking among new and established businesses.

Nevertheless, according to Heritage.org, "Taiwan has maintained well-developed legal and commercial infrastructure in the private sector. The corporate tax rate has become more competitive, and small and medium-size enterprises continue to be the backbone of economic dynamism."

Among the positive conclusions reached by Dr. Raveche and the Roundtable: Taiwan's universities need to graduate more students who are motivated to create jobs rather than just find a job in existing industries; the R&D funding agencies must have a mandate to drive innovation and not just support traditional academic research; and Taiwan needs to identify new technological thrust areas for R&D to advance tomorrow's industries.

Dr. Raveche works frequently with universities, businesses and government agencies throughout East Asia, South Asia and Southeast Asia to assist in cultivating technology innovation and entrepreneurship. He is available to provide expert commentary and to address business associations and other audiences on developments in Taiwan, Korea, Singapore, Vietnam and high-growth nations throughout the region.

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