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The Taiwan Excellence Awards are yearly awards that are given out by the Ministry of Economic Affairs (MOEA) and Taiwan External Trade Development Council (TAITRA) to encourage Taiwan industries to upgrade and incorporate innovation and value into their products. The selection of awards is based on four criteria: R&D, design, quality, and marketing. Each product must score evenly in each category in order to be selected. An international panel of judges is invited to participate in this selection. Finalists are decided after several rounds of evaluations.
Several plans were launched to promote the product designs, qualities and images of Taiwan: Quality Enhancement Plan (1988), Product Design Ability Enhancement Plan (1989), and the 1990 Image Enhancement Plan (IEP). This eventually led to the Branding Taiwan Project developed in 2006 with a strong focus on the IEP. The IEP is designed to enhance the image of Made in Taiwan products. There have been three iterations to the competition:

Stage one (1990–1995): Focus on improving the negative image of Made In Taiwan products.
Stage two (1995–2000): Innovalue ("innovation" plus "added value"), was created.
Stage three (current stage): Image reformation of Made In Taiwan products through an integrated global information campaign.The objective is to transform Taiwan from a regional manufacturing center into a global R&D and innovation center.

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