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(Nikkei BP Group)

(No.1 High-Tech News Site in Japanese)

  • Soft China Corp. to Set Up Software Center, Venture Fund
  • October 23, 1998 (TAIPEI) -- Taiwan's Soft China Corp. plans to set up a software development center by the end of December to establish a satellite system for software research and development.
    This move will be taken under the guidance of the Ministry of Economic Affairs.

    Also, the company will set up a venture capital fund, to assist the development of the local software industry.

    According to preliminary plans, any software development team that has less than NT$30 million (US$913,000) in capital and needs no more than 100 sq. meters of office space can apply for an office at the proposed center.

    Soft China aims to have 15 companies join the center in the initial year of operations, and it expects to attract at least 30 firms a year from the second year.

    A Soft China executive said that because the software sector requires creativity and is knowledge-intensive, the development center should become a focus of substantial interest.

    He also said that software development centers are common at universities in Taiwan, but that Soft China plans to set up a professional center.

    Additionally, Soft China intends to cooperate with Taiwan Pineapple Corp., Clevo Co. and Jih Sun Securities Co., Ltd. to establish a venture capital fund. The companies plan to raise NT$600 million in a two-year period, and invest the money in local and foreign software firms.

    The venture fund will focus on firms with potential in the areas of multimedia education software, office automation software, tool software, video game software, network software, business software and software marketing.

    Money from the fund will be channeled into about 50 companies over a three-year period.

    (Commercial Times, Taiwan)

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    Updated: Thu Oct 22 18:19:51 1998 PDT