When Taiwan's government launched Hsinchu Science-based Industrial Park Project in 1979, the objectives were three fold: to revitalize the country's economic growth, to establish its indigenous high-tech base, and to slow down the (then) serious brain drain problem. After extensive consultations, study tours, and careful evaluation, a strategy was adopted to emulate Silicon Valley. The key ingredients of the strategy were to establish favorable investment and living environments for high tech entrepreneurs, to lure back some expatriate brain power, and to train more science and engineering graduates. The initial plan involved a 10-year, $500 million government fund to develop a nearly 600 hectare science park in Hsinchu, where two prestigious universities and a government funded research institution already were located. The Taiwanese government established a Hsinchu Science-based Industrial Park Administration in 1979 to execute this plan. What has happened during the past 20 years? The current status of the Hsinchu Park will be presented to substantiate the original plan and strategy. Dr. Irving T. Ho currently serves as Chairman of the Board of EiC Corp. His distinguished career includes serving as the first Director General of the Hsinchu Science-Based Industrial Park, President and CEO of International Integrated System, Inc., Vice Chairman of Taiwan's National Science Council, and senior manager and award winning researcher at IBM's East Fishkill Laboratory. Holder of 34 US patents, Dr. Ho received his M.S. and Ph.D. degrees in Electrical Engineering from Stanford University.