Taiwan and the Czech Republic team up to expand business and technology cooperation
As part of the cooperation, Veracity Protocol is protecting one million of each type of mask free of charge.
Even though Veracity Protocol is a U.S. company, our roots are Czech—our founders are Czech, and the development team is based in the Czech Republic. This granted us the unique opportunity to join the Economic, Trade, and Investment Forum in Taiwan, accompanying Miloš Vystrčil, the President of the Senate of the Parliament of the Czech Republic. Taking place from August 29 to September 5, 2020, the purpose of the visit was to support Czech-Taiwanese trade and investment relationships as a driver for economic growth and prosperity.
The United States is Taiwan’s second largest trading partner in the world, with Japan and the European Union trailing closely behind. The Czech Republic is the fourth biggest investment destination in Europe. “Although Taiwan and the Czech Republic are geographically far apart, we’ve always had a close relationship,” Minister of Economic Affairs Wang Mei-hua said. “Taiwanese high-tech businesses have been making investments in Czech for 25 years, because they recognize the superiority of Czech technical talent.”
The goal of the delegation was to further establish the business environment for Taiwanese and Czech businesses to cooperate. Hosted by the Ministry of Economic Affairs, the Trade and Investment Forum focused on artificial intelligence, IoT, the green economy, innovative start-ups, automobiles, information and communications technology, and aerospace industries.
After the forum, more than 40 business leaders from the Czech delegation met with potential Taiwanese partners for business-matching activities.
Focus on cooperation
We welcomed the CZ-TW initiative to strengthen Veracity Protocol’s interest in the Asia region, our relationship with the Taiwanese government, and other companies in the areas of product protection, quality, identity, and authenticity.
“There is a great synergy between Taiwan and the Czech Republic.”
Jakub Krcmar, our CEO, co-founder, and one of the speakers at the forum in Taipei, said there is “great synergy” between Taiwan and the Czech Republic because both countries are technological powerhouses with complementary strengths.
“While Taiwan has some of the world’s top tech companies, the Czech Republic is where you can find some of the world’s top tech talent. This is especially true in the field of AI and nanotechnology. Working more closely with the Czech Republic is a great way for Taiwanese companies to keep their edge.”
With its proprietary computer vision-based technology, Veracity Protocol is now working with Taiwanese companies to help them establish trust in the supply chain. “I think we work well together because we have similar histories and similar values. We understand each other,” Jakub said.
New partners, new customers
It was a successful day for everyone in attendance. Veracity Protocol used this opportunity to present its solutions, learn more about Taiwan’s priorities, and connect with relevant business partners.
We will do as much as we can to protect Taiwanese people in the time of Covid-19
In the time of this global pandemic, we have offered our protection technology to Taiwan to ensure the authenticity of their face masks and medical supplies. As part of the cooperation, we are protecting one million of each type of mask free of charge. Users will be able to verify the authenticity through a simple smartphone app.
Our focus will be on the integration of our technology with existing cameras, enhancing anomaly inspection and setting the standard for non-invasive identification.
Key takeaways
The program was full of remarkable business presentations by other participating companies. This was followed by meetings with our potential clients, many of which have led to further cooperation. Key takeaways in numbers:
- 56 hours of business presentations
- 12 completed meetings
- 8 opportunities in the areas of Critical products and electronics, Industry 4.0, COVID-19 authenticity protection, Marketplaces, and CV/ML cameras
Our vision is to provide a solution for manufacturers that brings trust to their supply chain and transparency for their customers in Taiwan and beyond. Thanks to this mission and the tremendous efforts of our co-founder Jakub, we’re well on our way.
If you want to join the Czech-Taiwanese business community too, visit the website to learn more. It’s for everyone — large enterprises, small firms, specialized agencies, and individuals. The Czech-Taiwanese business community is a great place to share experiences, build relationships, and find advice and inspiration to grow.
Connect with us
Veracity Protocol is an award-winning startup that builds a Vision AI Standard to protect people and products in the digital world. The standard guarantees the highest level of trust and security for verifying the identity, authenticity, and integrity of physical objects using a smartphone.
