Taiwan's government will step up the development of smart biotech ecosystem by fostering more startups and introducing more international funds, technologies and talent through Hsinchu Biomedical Science Park and Taiwan Tech Arena (TTA), according to the Ministry of Science and Technology (MOST).
MOST statistics show that the production value of Taiwan's biotech industry is estimated to increase by over 6% on year to NT$548.4 billion (US$17.989 billion) in 2019, with the growth partly due to a spate of cooperation projects with international academic institutes, including Berkeley-Taiwan Biomedical Fellowship and Stanford-Taiwan Biomedical Fellowship Program.
CH Chiou, director general of the ministry's Department of Academia-Industry Collaboration and Science Park Affairs, said that the projects have not only deepened academia-industry cooperation but also injected innovation momentum to Taiwan's biomedical industry.
Chiou continued that Taipei-based BE Accelerator has fostered 26 biotech and medical startups over the past one and a half years including some from the US, Canada, France and Israel, providing new nutrients for Taiwan's biomedical ecosystem.
Chiou said Hsinchu Biomedical Science Park will play a more active role in introducing international funds and talent to strengthen development of biomedical innovations for use by hospitals and pharmaceuticals makers.
He also hopes TTA will serve as an external marketing window for Taiwan's startups, with the aim of boosting their international visibility by cooperating with various overseas platforms and soliciting more international venture capital firms and accelerators to set up operations in Taiwan.