ROC sets new course for biotech development

Taiwan biotech sector is set for a significant shot in the arm under stage two of the ROC government's industrywide promotion plan. (CNA) Publication Date：10/18/2012 Source： Taiwan Today ByMeg Chang Cultivating homegrown talent and developing medical care services are central planks in the second phase of the ROC government plan to promote Taiwan's biotechnology sector, Minister without Portfolio Chang Shan-cheng said Oct. 17."The plan for biotechnology development, which commenced in 2009, laid a solid foundation for the local sector," Chang said. "From 2013, the second stage will focus on enhancing Taiwan's talent pool and promoting exports of medical care services."Under the plan, the government will fund an NT$300 million (US$10.26 million) three-year talent training program as a way of sharpening the sector's human resource assets."Taiwan produces 400 graduates with doctoral degrees in biotech-related disciplines every year, four times the average number of openings on offer in the private sector," the minister said, adding that the mismatch bodes ill for industry development.The minister said the government will subsidize local academic and state-funded organizations to create 100 post-doctoral positions in public-private research projects per year. "Such hands-on experience will greatly facilitate the movement of these experts into the private sector."Taiwan has already made tremendous headway in the development of medical devices and pharmaceuticals, Chang said. "Medical care services are a promising field that Taiwan can realistically train its sights on," he said.The government will work with the private sector to identify the kinds of services suitable for export, including turn-key solutions incorporating medical care and information communications technology. It will also encourage the establishment of biotech venture capital firms with funds of between NT$500 million and NT$1 billion."What we plan is the creation of two or three examples of successful investment before setting up mega-funds that require public contribution," Chang said. (JSM)