Since SMEs constitute the backbone of Taiwanese industry, it was anticipated that this program would help to reduce the cost and risk of innovation and R&D for SMEs, thereby helping to stimulate these activities in the SME sector. Under Taiwan’s SBIR plan, SMEs can apply for subsidies covering up to 50% of the total cost of R&D. This government funding support helps to reduce the costs and the level of risk that SMEs must bear when engaging in innovation or R&D. By encouraging SMEs to undertake the development of new technologies and products.
