Taipei, May 30 (CNA) YouTube co-founder Steve Chen said Wednesday he is considering setting up a Taiwan unit of AVOS Systems Inc. as part of efforts to foster a more friendly environment for start-ups.
"I don't understand why Taiwan has so many good engineers but the ratio of engineers running start-ups remains low," Chen said. "In Silicon Valley, many people began to run start-ups since in high school."
Chen said when he was working in payment service at PayPal in 1999, he found that even colleges who knew little about the payment business could set up a standard for online payments.
This inspired him to start the video site YouTube in 2005, said Chen, 33, a Taiwan-born American.
"I think one of the most important things is that nothing is really special. The first step is just to go out there and actually start the business," Chen said.
"What really matters is the first company, and Taiwan needs to start from such a company like PayPal," he added.
Chen said he will likely return to Taiwan in the second half of this year to find some qualified managers to study the feasibility of running an AVOS unit in the country.
The AVOS office, which may be located in the Taipei 101 building, could provide help for local start-ups to run mobile businesses, as the company has built a platform for developers to easily transform their products into Android applications, he said.
Chen made the remarks at a seminar in Taipei organized by the state-financed Industrial Technology Research Institute, at which he shared his work experience, from PayPal to YouTube and AVOS.
AVOS is an Internet company led by YouTube co-founders Chad Hurley and Chen. It is headquartered in San Mateo, California with offices in Beijing, China and Dunedin, New Zealand.
Founded in 2011, AVOS has been working on a new version of the social bookmarking service Delicious.com and recently unveiled a Chinese version of the site, Mei.fm.
The latest AVOS product, a magazine discovery and creation platform called Zeen, is currently in development, according to the company.
(By Jeffrey Wu)