FAQ

Frequently Asked Questions

You have questions, we have answers. Below are some of the most commonly asked questions about The Phoenix Project. If you have other questions, please email us from the Contact page.

What is the Phoenix Project?

The Taiwan Phoenix Project is Taiwan’s first Digital Health Accelerator, designed to assist startups in biotechnology, AI, blockchain and digital health to thrive and compete in the global market.

The project leverages resources from the Development Center for Biotechnology (DCB) to combine interdisciplinary resources to accelerate the development of start-ups with the goal of winning investment and creating a new generation of successful global enterprises. The project aims to:

  • Accelerate the generation of start-ups that capitalize on emerging global trends
  • Create a vibrant startup ecosystem that serves as a deep networking platformfor all partners interested in helping startups to grow
  • Increase investment from all possible avenues
What is the timeline?

The program begins March 22, with Stage 1: Startup Bootcamp. 
This is a three-day Bootcamp, running March 22, 23, and 26, in which participants learn the core elements necessary to launch a successful startup. Participants without a business plan will develop a first draft, while those with an existing plan will either revise or fine tune it. A pitch event will be held on the following Monday to select the top thirty finalists who will progress to Stage 2.

Stage 2: Business Plan Crash Course runs from April 1 – 30. Over the course of one month, a variety of business training courses will be offered to help entrepreneurs sharpen their skills and better understand the global biomedical industry. Taiwan Phoenix Project coaches and mentors will help startups to think strategically, identify their markets, tune their business models, flesh out business plans, work towards creating globally-minded enterprises, find strategic networking partners, and devise a fundraising strategy and / or exit plan.

Stage 3: Scale Up runs from June 15 – September 15. In this stage, each team will be assigned a dedicated account manager to aid them in acquiring the resources necessary to achieve success. Account managers will select individual mentors and coaches to help participants think strategically about their businesses, draw up a successful global road map, and face all the challenges – large and small – of scaling up a global enterprise. Finalists will pitch their ideas to local and international venture capitalists in the ultimate test of their business plans.

The dates for Stage 4: International Soft Landing are flexible, and yet to be decided.  In this stage, senior mentors will help finalists to fine tune the businesses of the top two finalists and help prepare them for launch on the global stage. Depending on their goals and target markets, finalists can join international partner accelerators in the US, Europe, Japan or Asia (including China) for a soft landing and/or advanced-training. Top teams will be exposed to further fundraising and visibility opportunities, including expos and road shows.

What does the accelerator offer me?

The Phoenix Project offers a total prize amount of $3 million NT to be split among the winning teams.

We will reimburse each winning team NT 50,000 in travel expenses for attending international pitch events/soft landing programs.

We will provide one free showcase booth for each of the winning team at the Meet Taipei startup festival in November.

We offer offer free coworking space for the winning teams.

Most importantly, we offer extensive mentoring and coaching programs, access to our global network of financial partners, marketing assistance, and an international soft landing program for successful graduates.

Do I have to have a company to apply?

No. But if you are selected in the first stage, you will have to register your company by May 2, 2018 to be qualified for continued participation.

Who is eligible, and how do I apply?
  • Any entrepreneur or team that wants to startup a company in Taiwan, or
  • Any early-stage startup company already registered in Taiwan
How can I know if my idea is interesting for the program?

You will know if you get real investors! That is what we are here to help you with.

How many startups will be selected?

Stage 1: We will pick the top 30% of the total number of applicants
Stage 2: We pick the top 50%, or 15 teams maximum from Stage 1 winning teams.
Stage 3: We will pick the top 50% or 5 teams maximum from Stage 2 winning teams.
Stage 4: We will offer the best 2 teams opportunities of international soft landing.

Do you take equity in my company?

Nope. We sure don’t!

How will I know if I’m accepted?

Stage 1: We will announce the list of winning teams on this website on March 27, and will send out notifications by email.
Stage 2: We will announce the winning teams on May 4, follwoing the Demo Day.
Stage 3: We will announce the winning teams on September 20, following the Demo Day.
Stage 4: The Top 2 teams from Stage 3 will be selected to participate in our international soft landing programs.

How much does it cost?

Answer: Zip. Nada. Nothing. Just your time and commitment.  But winners will be required to travel to international pitch events, at their own expense. However, this cost will be reimbursed by the Phoenix Project, up to 50,000NT per team.