Far EasTone invests NT$230 million to drive startup development in Taiwan

Far EasTone has invested NT$230 million (US$7.33 million) to support the growth of around 40 domestic startups, focusing on solutions in digital operations, smart healthcare, and smart city technologies. (Photo Credit: FET)

On Friday, the company said it will assist an additional seven startups in expanding the adoption of their technologies by providing resources, market access, and testing environments. Far EasTone noted that while local startups have strong growth potential, many require financial support during their early development stages, per CNA.

The company also highlighted support for two AI-focused firms, Eslitec Co. and NexRetail, to help expand the use of their solutions in enterprises. Eslitec provides AI solutions for small and medium-sized enterprises, including its MantaGO platform, which integrates text-based customer service into social media interfaces for the retail and food and beverage sectors.

NexRetail uses image recognition, edge computing, and voice technologies to help improve retail operations. The company has worked with Qualcomm and Nvidia and has set up tools such as customer traffic tracking, virtual assistants, and digital displays for global brands including L'Oreal and McDonald's.

Far EasTone also supports two medical technology companies. Intowell Biomedical Technology developed the Dr. AI smart medical platform, which assists clinical diagnosis, converts voice recordings into medical records, and can produce 100 health-check reports in 15 minutes.

Petcision Co. has developed a liquid biopsy technology to detect tumors in dogs from blood samples. The company also uses a cancer gene database combined with algorithms to interpret genetic data and identify cancer cells.

Lastly, Far EasTone is supporting Taiwan MicroGrid Technology in promoting its AI-powered electricity balancing system, which allows quick switching between power sources during regional outages. The company is also developing hydrogen-based energy storage systems to deliver low-carbon microgrid solutions.