2011/08/19 Taipei, Aug. 19, 2011 (CENS)--The Taiwan Cabinet recently initiated the Taiwan Medtech Fund (TMF) targeting to invest in high-end medical devices. Y.T. Jang, General partner of Vertical Group and executive of TMF, pointed out that the fund aims to raise US$200 million, with over 10 investors showing interest so far and fund raising to be completed in a few months. Jang said that Taiwan has advantages in developing high-end medical devices among all emerging nations, as well as very strong global competitiveness, including governmental support, industrial infrastructure, seasoned professionals, and advantageous geographical location. Jang further explained that the financial turmoil in the U.S. and Europe has slashed industrial spending and driven many biotechnology companies and investment funds to emerging nations. Compared to other emerging counterparts, Jang said, Taiwan is more established in capacity to develop medical-devices, with relatively better intellectual-property protection. Taiwan`s being close to many big markets as China and India, Jang added, and strong demand from these big markets is expected to further nourish development of the medical-device line on the island. According to Jang, the National Development Fund has invested 20% in the TMF, lower than originally promised 40%. The state-run China Steel Corp. (CSC) reportedly plans to invest about NT$200 million (US$6.9 million), with the Ministry of Economic Affairs also reportedly planning to ask other state-run enterprises to invest.
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