President Lai Ching-te (賴清德) met with the winners of the 20th International Inventor Prize on Monday, praising their contributions to human well-being and social progress.
Lai says transforming creative ideas into practical and effective solutions requires overcoming numerous challenges, one of which is financial support. Referring to a 2023 survey released by the National Science and Technology Council, Taiwan secured NT$937.3 billion (US$28.3 billion) in research and development funding for that year, accounting for 3.98% of GDP, a record high made possible by active investment from both the government and enterprises.
Lai says that government funding for research and development will only continue to grow. He emphasizes the importance of advancing Taiwan’s technological edge amid challenges such as artificial intelligence, digital transformation, net-zero initiatives, and geopolitical shifts. He says this is key to maintaining Taiwan's position in the global technology and industrial supply chain. He adds that this is only made possible by the continuous efforts of outstanding inventors.
President Lai says he hopes that inventors will carry forward the spirit of innovation, transform their creativity into entrepreneurship, and contribute to Taiwan’s thriving economy.