Industrial Technology Research Institute
Li Kwoh-ting, former Finance Minister of the Republic of China, was among those who significantly contributed to the founding of the park, as ordered by Chiang. Inspired by Silicon Valley, Li consulted Frederick Terman on how Taiwan could follow its example. From there, Li convinced talents who had gone abroad to build companies in this new Silicon Valley in Taiwan. Among those who returned is Morris Chang, who later led the Industrial Technology Research Institute (ITRI) and founded the TSMC. Li also introduced the concept of venture capital to the country to attract funds to finance high-tech startups in Taiwan.