Virtual integration
Software is one of the few industries to have grown during the pandemic. In September, a startup called iCHEF announced that it had raised NT$150 million in capital, and was planning to expand its development team and move forward with its goal of listing on the stock market.
Already seeking to expand, iCHEF has recently picked up the pace of its efforts. The floor of the company’s office on Taipei’s Ren’ai Road is littered with boxes filled with equipment ready to be delivered to new clients. iCHEF’s sales have soared during the pandemic—it currently has customers in Taiwan, Hong Kong, Singapore and Malaysia, and expects to have more than 9000 clients in total by year’s end.
iCHEF cofounder Benjamin Wu has worked with independent restaurants for years. He notes that even though those using digital tools before the pandemic have felt its impact, the rapid development of online ordering has helped them offset some of their lost business. Restaurants which are only now, in the midst of the pandemic, beginning to prepare for the digital age have not fared as well. “They’re paying the highest fees [to delivery services], are the most unfamiliar with processes, are the least adaptable, and have the lowest ratings on delivery platforms.”
Wu says, “For the last century, there was only the real economy, which meant that epidemics affected everybody the same way. But now the advent of digital services enables the business owners that use them to keep their businesses afloat and grow.”
Restaurant crews have pulled together to weather the pandemic.