Taiwan firms pledge investment in biotechnology

Publication Date：09/16/2011Taiwan Today  The HBSP's biotechnology complex, which commenced operations May 18, is set to become the incubator for Taiwan's biotech startups. (CNA)•Taiwan's biotechnology sector received a major boost with 12 biomedical firms pledging to invest NT$1.62 billion (US$54.5 million) in the Hsinchu Biomedical Science Park so far, according to the park administration Sept. 15. "Our investment promotion efforts are receiving a warm response, and we are on track to exceed our goal of attracting NT$1.8 billion to the park by 2014," an unnamed park official said. According to the official, one of the companies is already in operation, while the rest will soon set up shop at the HBSP to produce artificial joints and tooth roots, cancer treatment equipment, diagnostic supplies and generic and stem-cell drugs, among other products. Occupying 38.1 hectares of land, the HBSP features a major research hospital, a research and development center and a business incubation center, including a biotechnology complex that can house up to 50 firms. The hospital, set to become operational in 2014 with a budgeted cost of NT$1.8 billion, will be managed under the auspices of the Cabinet-level Department of Health. Construction work for the NT$1.29 billion R&D center will begin next year, with completion scheduled for 2013. According to the park administration, the HBSP is an integral part of the Cabinet's effort to develop Taiwan's biotechnology sector. The strategic plan will see the local sector's output increase by an average 25 percent annually in the following five years, with the creation of more than 100 startups in the next decade. (THN)