Startup exhibitions play an important role in strengthening startup ecosystems by providing emerging startups with valuable exposure, access to funding, and unique networking opportunities on a global scale. Exhibitions also enable ecosystems to connect with international startups and investors, creating new opportunities for all stakeholders involved. In this article, we will explore the benefits of hosting these exhibitions for startup ecosystems, drawing insights from our experience at InnoVEX, a startup exhibition within the COMPUTEX Taipei trade show that we attended in May 2024.
Benefits of Startup Exhibitions for Startup Ecosystems
Below are some of the benefits we observed in Taiwan’s startup ecosystem during the InnoVEX conference. With the presence of influential startup events, Taiwan ranks 3rd in Asia for the impact of startup events on its ecosystem, surpassing countries such as India, China, and Japan.
1. Strengthening Global Presence and Branding
Startup exhibitions significantly boost a startup ecosystem’s global presence and branding, establishing it as a competitive hub for innovation and technology. This increased visibility elevates the ecosystem’s international reputation, attracting interest from investors, potential partners, talent, and startups worldwide. As exhibitions showcase the ecosystem’s unique strengths—whether in specific technologies, industries, or entrepreneurial support—they create a powerful narrative that helps brand the ecosystem as a leader in innovation. Additionally, the credibility gained through international exposure also makes it easier for startups within the ecosystem to attract foreign clients, expand into new markets, and secure valuable cross-border partnerships. With over 32,000 visitors from more than 30 countries participating, InnoVEX 2024 provided a platform that brought international attention to the host ecosystem. This broad exposure helped showcase local tech innovations and talent, positioning the ecosystem as a competitive global player and enhancing its attractiveness to both startups and investors worldwide.
2. Attracting Foreign Investment and Expanding Funding Pools
Exhibitions are magnets for foreign investors, providing direct exposure to promising startups within the ecosystem. By attracting venture capitalists, angel investors, and corporate investors from around the world, exhibitions create a more diverse funding pool, making it easier for startups to access the resources they need to grow. This increased capital flow strengthens the entire ecosystem by providing financial support to promising ventures, encouraging further innovation, and increasing the ecosystem’s resilience. The addition of foreign investment also brings diverse perspectives and strategic guidance that enhance the ecosystem’s global competitiveness. During Innovex, the European Bank for Reconstruction and Development (EBRD) organized a Demo Day to showcase innovative startups from Europe and Central Asia from EBRD’s Star Venture programme with the goal to expand their Asian network during COMPUTEX / InnoVEX.
3. Fostering a Culture of Innovation and Entrepreneurship
Startup exhibitions foster a collaborative culture of innovation by providing a space where startups, investors, corporations, and government representatives can interact. These events promote the exchange of ideas, encourage experimentation, and introduce new technologies, all of which fuel ecosystem growth and drive forward-thinking development. This collaborative environment supports the culture of innovation and entrepreneurship as people witness the successful entrepreneurs and the impact they had on the ecosystem first hand. InnoVEX showcases innovations from diverse industries, including AI, IoT, and green tech, fostering a collaborative environment for startups and industry leaders. This diversity of ideas and interactions helps strengthen the ecosystem’s culture of innovation, creating a supportive community where businesses share insights, and find collaborative opportunities.
4. Increasing Resilience and Diversifying the Ecosystem
By hosting startups and industry leaders from multiple sectors, exhibitions introduce a variety of industries and technologies into the ecosystem, broadening its base and making it less dependent on any single sector. This diversification increases the ecosystem’s resilience, enabling it to adapt to global economic fluctuations and market changes. A diverse ecosystem is more robust and better equipped to support long-term innovation, as it is less vulnerable to the risks associated with single-industry dependency. By attracting startups from various sectors, exhibitions help build an adaptable ecosystem that can continue to grow despite external challenges.
InnoVEX features startups across several fields, including healthcare, AI, green technology, and fintech, supporting ecosystem diversification. This diversity strengthens the host ecosystem by reducing dependency on one industry and building resilience, making the ecosystem more adaptable to shifts in market demand. Below, we some of the pitching startups during competition, with their industries varying from Healthtech to AI.
- Fortune AI – Safe Swim (Taiwan): Utilizes AI to detect swimming pool accidents through a camera and alarm system that identifies distress signals. Industry: AI Technology. Awards: Okinawa Innovation Award, NVIDIA Award.
- Taiwan Polymer Material Company (Taiwan): Converts end-of-life tires into recycled rubber and metals, producing rubber powder compliant with industry standards. Industry: Green Technology. Awards: BSSC Award, PwC Award, KPMG Award, Grand Prize.
- Watasumi (Japan): Converts wastewater into energy for small- and medium-sized food and beverage industries using bioelectrochemical systems. Industry: Green Technology. Award: Future Star Award.
- Pade Technology (Taiwan): Develops an AI-powered sorting system for accurate textile material identification, supporting textile recycling for a circular economy. Industry: Green Technology.
- Hearing Action (Taiwan): Provides “Smart Hearing Butler,” an AI-driven mobile hearing care solution for continuous, personalized hearing evaluations and adjustments. Industry: Healthcare & Biotechnology.
5. Enabling Market Validation and Product Feedback
Startup exhibitions provide local startups with a unique opportunity for real-time market validation and feedback, essential for fine-tuning products to meet market demands. Exhibitions bring startups face-to-face with potential customers, industry experts, and peers who can offer valuable insights on their offerings. This interaction allows startups to test their ideas and prototypes, understand user preferences, and identify any weaknesses in their products before they reach larger markets. Such direct feedback reduces the risk of failure by helping startups make informed improvements, ensuring that products are more aligned with customer needs and industry standards. When startups adjust their offerings based on real-world insights, they are better prepared for market demands, reducing the failure rate and increasing overall success within the ecosystem. During InnoVEX, the pitch contest participants were able to get feedback from a panel from organizations such as Nvidia, Darwin Ventures, UMC Capital, Continental and many other notable organizations.
In conclusion, startup exhibitions provide a powerful boost to local ecosystems by facilitating essential market validation and product feedback. This interaction between startups, potential customers, industry experts, and peers enables early-stage ventures to refine their products, ensuring they are well-aligned with market needs and expectations. As startups improve their success rates, product quality, and readiness for larger markets, the ecosystem as a whole becomes more resilient, innovative, and appealing to investors, talent, and partners.
