Spotlight on Taiwan: How to Connect with a Rising Power in Life Sciences

4 Apr

By Jessica Yang, Investor Research Analyst, LSN

Taiwan is establishing its presence in the life science industry and becoming an important player on the global stage. As Taiwan moves ahead to build its life science innovative ecosystem, Life Science Nation has partnered with Ministry of Science and Technology (MOST) to organize an inaugural RESI Conference in Taipei, Taiwan on November 14th. RESI Taipei will be a great chance to get plugged into the Taiwan’s rising life science ecosystem and meet emerging startups, both local and drawn from RESI’s global network.

Last month, the Taipei City Government, BTBA (Boston Taiwanese Biotechnology Association), and ITRI (Industrial Technology Research Institute) co-organized the “Taipei Bio Forum” event in Boston. As a media partner, LSN also promoted this event to invite life science industry players in Massachusetts. This event was a great chance to tap into Taipei’s rapidly developing ecosystem of innovators and long-established network of sophisticated capital providers.

During the forum, Dr. Ko Wen-Je, the mayor of Taipei City, gave a keynote speech about the current status and industrial strategy of Taiwan’s biotech industry. The mayor described their current action plan to establish Taiwan as a major hub in the Asia Pacific biotech and pharmaceutical industries, following in the footsteps of Boston. Indeed, their first goal is to improve the ecosystem to build a Boston-like environment that will welcome and foster innovation, starting by implementing changes in regulations, increasing protections for intellectual property, recruiting and cultivating new talent, and providing access to larger amounts of funding. In addition, to promote the spread of ideas and collaborative environment conducive to innovation, the government plans to integrate different science parks and R&D centers in Taiwan into one biocluster. Lastly, Dr. Ko also emphasized their goal of both integrating a global presence locally and differentiating Taiwan from other global players by focusing on specific key industries and developing their own niche. These key industries may include precision medicine, and aging-related technologies.

Boston is regarded as a global center of the life science industry, and Mark Sullivan, Executive Director of Massachusetts Office of International Trade & Investment, highlighted how the city fosters international collaborations and, with the success of many Boston-based biotech companies, has promoted an environment for startup success. This included the presence of many companies, based in Boston or Taiwan, demonstrating these cross-border partnerships.

Overall, the forum was a great success and provided an opportunity to forge connections between these two key life science hubs.  By launching RESI Taipei, LSN aims to bridge the global life science ecosystem with Taiwan and bring Taiwan startups and investors together with their counterparts from the rest of the world.

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