Industrial Technology Research Institute
Taiwan's information technology (IT) and electronics sector has been responsible for a vast supply of products since the 1980s. The Industrial Technology Research Institute (ITRI) was created in the 1973 to meet new demands from the burgeoning tech industry. This led to start-up companies like Taiwan Semiconductor Manufacturing Company (TSMC) and the construction of the Hsinchu Science and Industrial Park (HSP), which includes around 520 high-tech companies and 150,000 employees. By 2015, a bulk of the global market share of motherboards (89.9 percent), Cable CPE (84.5 percent), and Notebook PCs (83.5 percent) comprise both offshore and domestic production. It placed second in producing Transistor-Liquid Crystal Display (TFT-LCD panels) (41.4 percent) and third for LCD monitors (27 percent) and LED (19 percent). Nonetheless, Taiwan is still heavily reliant on offshore capital and technologies, importing up to US$25 billion worth of machinery and electrical equipment from Mainland China, US$16 billion from Japan, and US$10 billion from the U.S.