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QuickLogic Reports 41% Year-over-Year Revenue Growth for Second Quarter Fiscal 2024

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SAN JOSE, Calif., Aug. 13, 2024 /PRNewswire/ — QuickLogic Corporation (NASDAQ: QUIK) (“QuickLogic” or the “Company”), a developer of embedded FPGA (eFPGA) IP, ruggedized FPGAs and Endpoint AI solutions, today announced its financial results for the fiscal second quarter that ended June 30, 2024.

Recent Highlights

Awarded $5.26 million third tranche of the Strategic Radiation Hardened FPGA Technology US Government ContractJoined Intel Foundry Accelerator IP and USMAG Alliance Programs to deliver customer-definable eFPGA Hard IP cores optimized for the Intel 18A process nodeReceived a BAE Systems ‘Partner 2 Win’ Supplier of the Year award in the category of “FAST Labs™ Technology Innovation Partner of the Year”Grew the sales funnel to $189 millionAnnounced new distribution agreement with Spur Microwave Inc. to strengthen presence across the growing India marketAnnounced new distribution agreement with Astute Electronics to expand global reach, supporting customers across Europe, as well as in Australia, Israel, Turkey, and New ZealandEntered into a strategic partnership with CTG to enhance our aerospace and defense supply chain capabilities and to deliver custom solutions, cost savings, and efficiency for Aerospace and DefenseSensiML launched its open-source initiative Piccolo AI™, the first open-source AutoML solution for IoT edge AISensiML released a new Generative AI feature to enhance Data Studio, enabling embedded device developers to utilize text-to-speech (“TTS”) and AI voice generation

“QuickLogic’s inclusion in Intel Foundry Accelerator IP and USMAG Alliances marked a significant milestone in the Company’s strategic growth plan, and we believe this will position QuickLogic as a leading source for eFPGA Hard IP available for Intel 18A technology,” said Brian Faith, CEO of QuickLogic. “In addition to this, we are on schedule to deliver customer-specific eFPGA Hard IP for multiple 12nm designs by the close of 2024 that will be fabricated by two different foundries and execute on the Strategic Radiation Hardened FPGA program for the U.S. Department of Defense.”

Fiscal Second Quarter 2024 Financial Results

Total revenue for the second quarter of fiscal 2024 was $4.1 million, an increase of 41.3% compared with the second quarter of 2023 and a decrease of 31.3% compared with the first quarter of 2024.

New product revenue was approximately $3.1 million in the second quarter of 2024, an increase of $0.8 million, or 36.9%, compared with the second quarter of 2023 and a decrease of $1.8 million, or 37.3%, compared with the first quarter of 2024. The increase in new product revenue from the same period a year ago was primarily due to higher eFPGA IP license and professional services revenue due to the next phase of the large eFPGA contract and higher device and royalty revenues.

Mature product revenue was $1.1 million in the second quarter of 2024. This compares to $0.7 million in the second quarter of 2023 and $1.1 million in the first quarter of 2024.

Second quarter 2024 GAAP gross margin was 51.0% compared with 41.2% in the second quarter of 2023 and 66.3% in the first quarter of 2024.

Second quarter 2024 non-GAAP gross margin was 53.1% compared with 44.2% in the second quarter of 2023 and 70.3% in the first quarter of 2024.

Second quarter 2024 GAAP operating expenses were $3.6 million compared with $3.4 million in the second quarter of 2023 and $3.8 million in the first quarter of 2024.

Second quarter 2024 non-GAAP operating expenses were $2.9 million compared with $2.9 million in the second quarter of 2023 and $2.5 million in the first quarter of 2024.

Second quarter 2024 GAAP net loss was ($1.6 million), or ($0.11) per share, compared with a net loss of ($2.3 million), or ($0.17) per share, in the second quarter of 2023, and net income of $0.1 million, or $0.01 per basic and fully diluted share, in the first quarter of 2024.

Second quarter 2024 non-GAAP net loss was ($0.7 million), or ($0.05) per share, compared with a net loss of ($1.7 million), or ($0.12) per share, in the second quarter of 2023 and net income of $1.7 million, or $0.12 per basic share, or $0.11 per diluted share, in the first quarter of 2024.

Conference Call

QuickLogic will hold a conference call at 2:30 p.m. Pacific Time / 5:30 p.m. Eastern Time today, August 13, 2024, to discuss its current financial results. The conference call will be webcast on QuickLogic’s IR Site Events Page at https://ir.quicklogic.com/ir-calendar. To join the live conference, you may dial (877) 300-8521 and international participants should dial (412) 317-6026 by 2:20 p.m. Pacific Time. No Passcode is needed to join the conference call. A recording of the call will be available approximately one hour after completion. To access the recording, please call (844) 512-2921 and reference the passcode 10191341.

The call recording, which can be accessed by phone, will be archived through August 20, 2024, and the webcast will be available for 12 months on the Company’s website.

About QuickLogic

QuickLogic is a fabless semiconductor company that develops innovative embedded FPGA (eFPGA) IP, discrete FPGAs, and FPGA SoCs for a variety of industrial, aerospace and defense, edge and endpoint AI, consumer, and computing applications. Our wholly owned subsidiary, SensiML Corporation, completes the end-to-end solution portfolio with AI / ML software that accelerates AI at the edge/endpoint. For more information, visit www.quicklogic.com.

QuickLogic uses its website (www.quicklogic.com), the company blog (https://www.quicklogic.com/blog/), corporate Twitter account (@QuickLogic_Corp), Facebook page (https://www.facebook.com/QuickLogic), and LinkedIn page (https://www.linkedin.com/company/13512/) as channels of distribution of information about its products, its planned financial and other announcements, its attendance at upcoming investor and industry conferences, and other matters. Such information may be deemed material information, and QuickLogic may use these channels to comply with its disclosure obligations under Regulation FD. Therefore, investors should monitor the Company’s website and its social media accounts in addition to following the Company’s press releases, SEC filings, public conference calls, and webcasts.

Non-GAAP Financial Measures

QuickLogic reports financial information in accordance with United States Generally Accepted Accounting Principles, or U.S. GAAP, but believes that non-GAAP financial measures are helpful in evaluating its operating results and comparing its performance to comparable companies. Accordingly, the Company excludes certain charges related to stock-based compensation, in calculating non-GAAP (i) income (loss) from operations, (ii) net income (loss), (iii) net income (loss) per share, and (iv) gross margin percentage. The Company provides this non-GAAP information to enable investors to evaluate its operating results in a manner like how the Company analyzes its operating results and to provide consistency and comparability with similar companies in the Company’s industry.

Management uses the non-GAAP measures, which exclude gains, losses, and other charges that are considered by management to be outside of the Company’s core operating results, internally to evaluate its operating performance against results in prior periods and its operating plans and forecasts. In addition, the non-GAAP measures are used to plan for the Company’s future periods and serve as a basis for the allocation of the Company’s resources, management of operations and the measurement of profit-dependent cash, and equity compensation paid to employees and executive officers.

Investors should note, however, that the non-GAAP financial measures used by QuickLogic may not be the same non-GAAP financial measures and may not be calculated in the same manner as that of other companies. QuickLogic does not itself, nor does it suggest that investors should, consider such non-GAAP financial measures alone or as a substitute for financial information prepared in accordance with U.S. GAAP. A reconciliation of U.S. GAAP financial measures to non-GAAP financial measures is included in the financial statements portion of this press release. Investors are encouraged to review the related U.S. GAAP financial measures and the reconciliation of non-GAAP financial measures with their most directly comparable U.S. GAAP financial measures.

Forward Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, without limitation, statements regarding our future profitability and cash flows, expectations regarding our future business and statements regarding the timing, milestones, and payments related to our government contracts, and actual results may differ due to a variety of factors including: delays in the market acceptance of the Company’s new products; the ability to convert design opportunities into customer revenue; our ability to replace revenue from end-of-life products; the level and timing of customer design activity; the market acceptance of our customers’ products; the risk that new orders may not result in future revenue; our ability to introduce and produce new products based on advanced wafer technology on a timely basis; our ability to adequately market the low power, competitive pricing and short time-to-market of our new products; intense competition by competitors; our ability to hire and retain qualified personnel; changes in product demand or supply; general economic conditions; political events, international trade disputes, natural disasters and other business interruptions that could disrupt supply or delivery of, or demand for, the Company’s products; and changes in tax rates and exposure to additional tax liabilities. These and other potential factors and uncertainties that could cause actual results to differ materially from the results contemplated or implied are described in more detail in the Company’s public reports filed with the Securities and Exchange Commission (the “SEC”), including the risks discussed in the “Risk Factors” section in the Company’s Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and in the Company’s prior press releases, which are available on the Company’s Investor Relations website at http://ir.quicklogic.com/, and on the SEC website at www.sec.gov/. Additional information will be set forth in the Company’s Quarterly Report on Form 10-Q for the three and six months ended June 30, 2024. In addition, please note that the date of this press release is August 13, 2024, and any forward-looking statements contained herein are based on management’s current expectations and assumptions that we believe to be reasonable as of this date. We are not obliged to update these statements due to latest information or future events.

QuickLogic and logo are registered trademarks of QuickLogic. All other trademarks are the property of their respective holders and should be treated as such.

CODE: QUIK-E 

 –Tables Follow –

 

QUICKLOGIC CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except per share amounts)
(Unaudited) 

Three Months Ended

Six Months Ended

June 30,
2024

July 2, 2023

March 31,
2024

June 30,
2024

July 2, 2023

Revenue

$

4,127

$

2,921

$

6,007

$

10,134

$

7,054

Cost of revenue

2,022

1,718

2,024

$

4,046

3,461

Gross profit

2,105

1,203

3,983

$

6,088

3,593

Operating expenses:

Research and development

1,527

1,505

1,459

$

2,986

3,134

Selling, general and administrative

2,095

1,924

2,351

$

4,446

3,785

Total operating expense

3,622

3,429

3,810

$

7,432

6,919

Operating income (loss)

(1,517)

(2,226)

173

$

(1,344)

(3,326)

Interest expense

(40)

(50)

(69)

$

(109)

(108)

Interest and other (expense) income, net

1

—

11

$

12

(63)

Income (loss) before income taxes

(1,556)

(2,276)

115

$

(1,441)

(3,497)

(Benefit from) provision for income taxes

(6)

(7)

7

$

1

—

Net income (loss)

$

(1,550)

$

(2,269)

$

108

$

(1,442)

$

(3,497)

Net income (loss) per share:

Basic

$

(0.11)

$

(0.17)

$

0.01

$

(0.10)

$

(0.26)

Diluted

$

(0.11)

$

(0.17)

$

0.01

$

(0.10)

$

(0.26)

Weighted average shares outstanding:

Basic

14,439

13,709

14,177

14,308

13,297

Diluted

14,439

13,709

14,545

14,308

13,297

Note: Net income (loss) equals to comprehensive income (loss) for all periods presented.

 

QUICKLOGIC CORPORATION
CONDENSED CONSOLIDATED BALANCE SHEETS
(in thousands)
(Unaudited)

June 30, 2024

December 31,
2023

ASSETS

Current assets:

Cash, cash equivalents and restricted cash

$

23,266

$

24,606

Accounts receivable, net of allowance for doubtful accounts of $24 and $34, as of June
30, 2024 and December 31, 2023, respectively

928

1,625

Contract assets

2,254

3,609

Inventories

1,751

2,029

Prepaid expenses and other current assets

1,686

1,561

Total current assets

29,885

33,430

Property and equipment, net

12,043

8,948

Capitalized internal-use software, net

2,287

2,069

Right of use assets, net

896

981

Intangible assets, net

484

537

Non-marketable equity investment

300

300

Goodwill

185

185

Note receivable

1,229

1,200

Other assets

142

142

TOTAL ASSETS

$

47,451

$

47,792

LIABILITIES AND STOCKHOLDERS’ EQUITY

Current liabilities:

Revolving line of credit

$

20,000

$

20,000

Trade payables

1,449

4,657

Accrued liabilities

1,277

2,673

Deferred revenue

756

1,052

Notes payable, current

890

946

Lease liabilities, current

266

302

Total current liabilities

24,638

29,630

Long-term liabilities:

Lease liabilities, non-current

609

681

Notes payable, non-current

274

461

Other long-term liabilities

125

125

Total liabilities

25,646

30,897

Commitments and contingencies

Stockholders’ equity:

Preferred stock, $0.001 par value; 10,000 shares authorized; no shares issued and
outstanding

—

—

Common stock, $0.001 par value; 200,000 authorized; 14,458 and 14,118 shares issued
and outstanding as of June 30, 2024 and December 31, 2023, respectively

14

14

Additional paid-in capital

328,788

322,436

Accumulated deficit

(306,997)

(305,555)

Total stockholders’ equity

21,805

16,895

TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY

$

47,451

$

47,792

 

QUICKLOGIC CORPORATION
SUPPLEMENTAL RECONCILIATIONS OF US GAAP AND NON-GAAP FINANCIAL MEASURES
(in thousands, except per share amounts and percentages)
(Unaudited)

Three Months Ended

Six Months Ended

June 30,
2024

July 2, 2023

March 31,
2024

June 30,
2024

July 2, 2023

US GAAP income (loss) from operations

$

(1,517)

$

(2,226)

$

173

$

(1,344)

$

(3,326)

Adjustment for stock-based compensation within:

Cost of revenue

88

88

237

325

166

Research and development

197

158

357

554

342

Selling, general and administrative

517

340

969

1,486

793

Non-GAAP income (loss) from operations

$

(715)

$

(1,640)

$

1,736

$

1,021

$

(2,025)

US GAAP net income (loss)

$

(1,550)

$

(2,269)

$

108

$

(1,442)

$

(3,497)

Adjustment for stock-based compensation within:

Cost of revenue

88

88

237

325

166

Research and development

197

158

357

554

342

Selling, general and administrative

517

340

969

1,486

793

Non-GAAP net income (loss)

$

(748)

$

(1,683)

$

1,671

$

923

$

(2,196)

US GAAP net income (loss) per share, basic

$

(0.11)

$

(0.17)

$

0.01

$

(0.10)

$

(0.26)

Adjustment for stock-based compensation

0.06

0.05

0.11

0.16

0.09

Non-GAAP net income (loss) per share, basic

$

(0.05)

$

(0.12)

$

0.12

$

0.06

$

(0.17)

US GAAP net income (loss) per share, diluted

$

(0.11)

$

(0.17)

$

0.01

$

(0.10)

$

(0.26)

Adjustment for stock-based compensation

0.06

0.05

0.10

0.16

0.09

Non-GAAP net income (loss) per share, diluted

$

(0.05)

$

(0.12)

$

0.11

$

0.06

$

(0.17)

US GAAP gross margin percentage

51.0

%

41.2

%

66.3

%

60.1

%

50.9

%

Adjustment for stock-based compensation included
in cost of revenue

2.1

%

3.0

%

4.0

%

3.2

%

2.4

%

Non-GAAP gross margin percentage

53.1

%

44.2

%

70.3

%

63.3

%

53.3

%

 

QUICKLOGIC CORPORATION
SUPPLEMENTAL DATA
(Unaudited)

Percentage of Revenue

Change in Revenue

Q2 2024

Q2 2023

Q1 2024

Q2 2024 to
Q2 2023

Q2 2024 to
Q1 2024

COMPOSITION OF REVENUE

Revenue by product: (1)

New products

74

%

76

%

81

%

37

%

(37)

%

Mature products

26

%

24

%

19

%

56

%

(5)

%

Revenue by geography:

Asia Pacific

10

%

16

%

12

%

(10)

%

(44)

%

North America

87

%

81

%

84

%

52

%

(28)

%

Europe

3

%

3

%

4

%

12

%

(55)

%

_________________

(1)

New products include all products manufactured on 180 nanometer or smaller semiconductor processes, eFPGA IP intellectual property, professional services, and QuickAI and SensiML AI software as a service (SaaS) revenue. Mature products include all products produced on semiconductor processes larger than 180 nanometer and includes related royalty revenue.

 

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SOURCE QuickLogic Corporation

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SecurityGen and NEC Team Up to Strengthen Cybersecurity Operations for Indonesian Telcos

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September 24, 2024

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Harnessing future-ready solutions and expertise to safeguard Telecom networks against emerging threats

JAKARTA, Indonesia, Sept. 24, 2024 /PRNewswire/ — In a significant development for telecom cybersecurity, SecurityGen, an award-winning global leader in telecom cybersecurity, and PT NEC Indonesia, a leader in IT, network and AI technologies and a multi-vendor system integrator, have announced a partnership to strengthen telecom network defences across Indonesia. This alliance brings together SecurityGen’s cutting-edge security solutions and NEC’s extensive expertise in telecom infrastructure in a bid to combat a spectrum of increasingly advanced cyber threats.

The partnership aims to enhance the performance, reliability, and security of telecom networks throughout the region with SecurityGen providing future-ready threat-informed defence platform, comprising its Breach Attack platform and Monitoring system, and NEC offering crucial professional services to support and optimize these advanced security solutions. SecurityGen will also ensure rapid, effective deployments through comprehensive training and onboarding. By focusing on future-proofed solutions and fostering local talent, this partnership supports NEC’s vision of bolstering its security-as-a-service offering and solidifying its position as a trusted partner for Indonesian telcos.

This collaboration becomes even more vital given the speed with which telecom networks are evolving – making them increasingly complex and vulnerable. Unfortunately, traditional security measures are not effective enough anymore. By integrating advanced, AI-powered threat intelligence with automated security systems, this partnership aims to provide telco SOCs with unprecedented visibility into signalling traffic and robust validation against real-world attacks. This proactive approach, with in-built remediation, will not only mitigate breach risks but also equip security teams with the essential tools and expertise to counteract sophisticated cyber threats and maintain business resilience.

Amit Nath, Co-Founder & CEO of SecurityGen, said, “Our partnership with NEC is a crucial step towards fortifying Indonesia’s telecom sector with the expertise and tools essential for securing modern networks and operations. Together, we’re committed to building local competencies and implementing advanced, research-driven strategies to ensure the long-term security and resilience of the telecom infrastructure.”

Joji Yamamoto, President Director of NEC Indonesia said, “”In Indonesia, we have seen rapidly increasing growth of cloud services, and connected devices and subscribers for IoT use cases. NEC Indonesia welcomes the partnership with SecurityGen to join forces in advancing network security in Indonesia to protect information assets through the introduction and operation of measures against cyber-attacks.”

***

About SecurityGen
Founded in 2022, SecurityGen is a global leader in telecom security. We provide a solid security foundation to drive secure telecom digital transformations and ensure safe and robust network operations. Our extensive product and service portfolio offers complete protection against existing and advanced telecom security threats. www.secgen.com

About PT. NEC Indonesia

NEC first established its Jakarta Representative Office in 1968. Through the years, PT. NEC Indonesia recognized the importance of instituting telecommunications infrastructure for the country and has introduced several NEC technologies and solutions. This has resulted in PT. NEC Indonesia achieving the market leader position of being a total solutions provider for the Indonesian telecommunications industry.

Today, with its headquarters in Jakarta, PT. NEC Indonesia continues to play a significant role in providing total telecommunications and IT business solutions to its customers in the government and enterprise businesses. For more information, please visit http://id.nec.com/ 

 

 

 

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SOURCE PT. NEC Indonesia

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Patricia Calderon, Global Head of Water of CDP: How to drive water action across supply chains

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September 24, 2024

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JAKARTA, Indonesia, Sept. 24, 2024 /PRNewswire/ — This is an article from Patricia Calderon, Global Head of Water of CDP:

Supply chains are the knots that tie our global economy together and allow it to operate as it does.

In recent years those knots have become more complex and fragile.

Major trade routes can be held up by conflict, politics, or simply a container ship running aground. The world is deeply dependent on pinch points functioning with high volumes of traffic and little to no barriers. Below that level exist smaller, more intricate threads which have built up over time, across borders and through river basins.

The fragility now baked into the system is, in part, a result of our changing climate and the unsustainable nature of supply chains. Building resilience within supply chains to adapt to frequent extreme weather events is now crucial. Lessening their environmental impact is part of the same equation.

Deep dive

New research from CDP, the global non-profit leading the world’s environmental disclosure system for companies, cities, states, and regions, has examined the problem using data directly from companies.

We looked at 3,163 large companies with an annual revenue of more than EUR/ US$250 million. These companies disclosed to CDP’s annual water security questionnaire. A total of 1,542 companies – 50% – responded that they are engaging their supply chain on water risks. This includes inserting water requirements into supplier contracts, collecting water data, raising awareness of water issues, or collaborating on innovation.

Further analysis provides a unique insight into how some of the world’s largest brands are grappling with water issues. 1 in 5 companies are facing supply chain risks which could have a substantive financial or strategic impact on their business. These risks were estimated to total US$77 billion. And according to 79 businesses, a total of US$7 billion was deemed to be at immediate risk due to urgent water scarcity, food, regulatory and reputational issues.

Stem the tide

The data is clearly telling us our water supplies are becoming ever more fragile and the financial toll is mounting up. It’s down to large companies with the biggest water impacts to take immediate action, working with their suppliers to stem the tide of water risk.

Our research points to some of the tools currently being used by responsible companies – financial incentives, stricter contracts, and closer engagement are key. A group of forward-thinking businesses are already working on the problem. 443 businesses – 14% – offer their senior leaders, including the board, incentives to improve water management across the supply chain. A smaller group provide direct financial incentives to their chief procurement or purchasing officers.

Buyers and suppliers need to collaborate to ensure sustainability is a business norm. Recognizing it as a key differentiator among suppliers will be essential going forward. If we fail to address these issues the mounting financial impact of water risks will become all too apparent.

Going beyond

The report makes a strong case for companies to take immediate action on water issues in their supply chain and offers six key steps for companies. Each one of these indicators follows from the next: assess supply chain risks and impacts; set global targets; incentivize executives to act; include water in supplier requirements; engage with suppliers; and incentivize and support suppliers.

Ensuring supply chains can build resilience, reduce water risks, and keep our economies going is within reach. But to do so quickly and comprehensively we need to go beyond voluntary measures. The bar should be raised much higher in order to close the gap between where we are now and need to be.

Stronger regulation for mandatory disclosure and transparent reporting mechanisms are imperative to drive progress. This requires a combined approach with government policy, industry standards, and stakeholder engagement all playing a role.

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SOURCE CDP

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J-Stories launches special page to report on largest Japan-Taiwan summit bringing together startups and investors in the region

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September 24, 2024

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This year’s event in Tokyo expanded to its largest scale yet amid growing interest in Taiwan’s dominant semiconductor and AI sectors

Japan’s solutions-focused news service J-Stories is an official media partner of the 2024 Japan-Taiwan Innovations Summit. Here’s J-Stories’ special page where summit-related stories are featured in partnership with Startup Island TAIWAN, Taiwan’s national startup brand. J-Stories is run by Tokyo-based media agency Pacific Bridge Media & Consulting.

TOKYO, Sept. 23, 2024 /PRNewswire/ — The 2024 Japan-Taiwan Innovation Summit, the largest startup event to date featuring Japanese and Taiwanese aspiring to expand overseas, was held this month (Sept.17-18) in central Tokyo. Over 1,000 participants from various sectors – including politics, academia, large business and media – engaged with approximately 70 innovative startups over the two days.

The annual summit, which started two years ago, expanded further from previous years, incorporating cutting-edge industries, including AI, biomedical science, cybersecurity, digital services, fintech, defense and aerospace.

The two-day event was co-hosted by Taiwan’s National Development Council (NDC), a government body of Taiwan, and the Tokyo Metropolitan Government. Tokyo-based media agency Pacific Bridge Media & Consulting also supported the event as the official media partner, featuring various reports and videos about the event on a special online page, bridging the gap between Taiwan’s top entrepreneurs and the startup community in Japan.

Discussed among the main topics were Taiwan’s booming semiconductor supply chain and its uninhibited growth potential within the next decade. Taiwan’s leading chipmaker, TSMC, was launched as a startup more than three decades ago with the support of the Taiwanese government. Now, the international company is building factories in southern Japan, giving those in Tokyo high hopes for Taiwan’s investments in bumping up semiconductor production capabilities and building more factories in Japan.

At this year’s summit, it was not only Taiwanese entrepreneurs who took the floor, but also Japanese startups. The summit featured a significant number of Japanese participants from financial institutions, venture capitalists, and trading companies. This increased Japanese involvement is expected to strengthen the Japan–Taiwan network and contribute to the development of a thriving international ecosystem.

To start Day 1, Taiwan’s NDC Minister Liu Chin-Ching (Paul Liu), the Taiwanese delegation leader for this summit, took the stage. Minister Liu stated: “We are implementing the ‘Bridge Plan’ to expand innovation internationally. While we have been advancing innovation domestically in Taiwan, our future goal is to pursue international collaboration, with Japan being our first partner.” He emphasized the significance of Japan and Taiwan’s collaborative efforts. 

A video message from Tokyo Gov. Yuriko Koike was shown following Liu’s speech. She emphasized, “Taiwan and Japan have built a strong cooperative relationship. Let’s join forces between Tokyo and Taiwan to launch significant innovation.”

Among the speakers was Kei Furukawa, an Investment Partner at UTokyo IPC, who gave a lecture titled “Innovation and Startup Development Systems at the University of Tokyo VC,” discussing the advancement of innovation and entrepreneurship through collaboration between government and universities in Japan.

Additionally, there were presentations from Japanese and Taiwanese startups and innovation companies, speeches by notable guests, and more. The summit concluded with an invitation-only opening ceremony for the Taiwan Startup Tokyo office and a gala dinner with investors.

Visit J-Stories’ special page here:
https://jstories.media/jp/specials/jtis

Event Overview:

Name: 2024 Japan-Taiwan Innovation SummitDate: September 17 (Tuesday) – 18 (Wednesday), 2024, 10:00 AM – 5:00 PMVenue: Tokyo Innovation Base (TiB) 2nd Floor (3-8-3 Marunouchi, Chiyoda-ku, Tokyo, in front of Yurakucho Station)Format: On-site participationLanguages: Chinese, Japanese, and English (with simultaneous interpretation)Organizer: Startup Island TAIWAN

For more information on the Japan-Taiwan Innovation Summit 2024, please click here:

https://togethergobig.jp/en-summit

About J-Stories:

J-Stories is an online news platform that communicates innovative ideas, products, and technologies from Japan that address global issues to audiences and investors worldwide in Japanese, English, and Chinese. As the media partner for the “2024 Japan-Taiwan Innovation Summit,” J-Stories will be publishing articles about the summit before and after the event. J-Stories is run by Tokyo-based multilingual media agency Pacific Bridge Media & Consulting.

To receive the latest articles from J-Stories, please subscribe to our newsletter by emailing: jstories@pacificbridge.jp

View original content to download multimedia:https://www.prnewswire.com/news-releases/j-stories-launches-special-page-to-report-on-largest-japan-taiwan-summit-bringing-together-startups-and-investors-in-the-region-302256454.html

SOURCE PACIFIC BRIDGE MEDIA AND CONSULTING

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