New Taipei City Government inaugurated a biotech development consortium April 10, further strengthening the metropolis’ credentials as a leading industry hub in Taiwan.
“New Taipei is home to a quarter of Taiwan’s biotech firms, with 270 startups investing over NT$12.3 billion (US$410 million) in the city last year,” Mayor Eric Liluan Chu said.
“The consortium is one of our prime development strategies for this emerging industry,” he said, adding that the municipality will continue initiating public-private resource integration projects and promoting technological exchanges among local firms.
According to Chu, other support measures in the pipeline include cultivating talent, improving the city’s business environment, organizing overseas investment promotion campaigns, and setting up a biotech park on state-owned land.
Yeh Huey-ching, director of the city’s Economic Development Department, said most biotech firms in New Taipei are small and medium enterprises with no access to avenues for technological exchanges.
“The consortium will address this issue by further opening lines of communication between the public and private sectors, enabling academia, business and government to consolidate efforts and share resources,” Yeh said.
On the promotion front, Yeh cited a successful campaign concluded earlier this year that attracted US$20 million of investment in the local biotech sector, adding that another one is set to take place in July.
Concerning the planned biotech park, Yeh said New Taipei is the best candidate in Taiwan for the facility given its convenient transportation network, existing industry cluster and rich talent pool. Possible locations for the park include the districts of Shulin, Xinzhuang and Xizhi, with the government expected to reach a decision in the second half of the year.
Yeh said the government is taking an inclusive approach to developing the city’s biotech sector. This includes visiting 15 leading firms to better understand their needs, and canvassing industry advice on ways of improving the local business environment.
“We believe these efforts will play a major role in attracting additional investment totaling NT$80 billion over the next five years,” he said. (JSM)
Write to Meg Chang at sfchang@mofa.gov.tw