The value of the biotech industry’s annual output may start accelerating from this year after the government approved plans to invest in the Taiwan Medtech Fund (TMF) last month and it plans to launch a promotion office for the industry’s incubation center in November, Vice President Vincent Siew (蕭萬長) said yesterday.
These efforts may help boost the output value of the biotech industry — one of the nation’s six key emerging industries — to NT$260 billion (US$9 billion) next year and up to more than NT$1 trillion in 10 years, according to data on the Cabinet’s Web site.
“The government-run ‘Taiwan Biotech Take-off Diamond Action Plan’ made a breakthrough this year, which may drive the industry toward a more systematic platform for developing related technologies,” Siew said at the opening of the four-day BioTaiwan event at Hall 1 of the Taipei World Trade Center.
Siew said one of the main developments of the plan — which was launched more than two years ago — would be the opening of a promotion office in November with a target to launch the biotech industry’s supra--incubator center.
“The office should create a platform for local biotech companies, offering them integrated services, including legal, marketing and intellectual property rights,” he said.
Besides, the industry might have more funding for research and development available in the near future, Siew said, as the government approved investment in the TMF — a fund aimed at supporting biotech companies — while also approving a National Development Fund investment.
This may further encourage other venture capitalists interested in the local biotech industry, he added.
A total of 485 companies — including larger and listed biotech firms — occupy 950 booths at this year’s BioTaiwan event, the -highest number in history, the Taiwan Bio Industry Organization said yesterday.
The organization said the technology of artificial electronic retinal chips would be the main theme of this year’s event, developed by a research team led by former National Chiao Tung University president Peter Wu (吳重雨).
The latest breakthrough is a combined effort of biotechnology, medical science, electrical engineering and optical engineering, the organization said.
A preliminary study showed successful electroretinography signals were produced after the retinal chips were implanted in animals, indicating that the method is workable and might become an alternative approach to dealing with vision loss in the future, it added.
Contract chipmaker Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) is expected to remain the third-largest IC supplier this year, unchanged from last year, IC Insights said yesterday. IC designer MediaTek Inc (聯發科) is expected to become the 11th-largest, up from 16th last year, the semiconductor market research firm said. TSMC is expected to post US$45.42 billion in sales, up 31 percent from last year, IC Insights said in a report released on its Web site. TSMC’s sales growth is largely due to a surge in orders from Apple Inc and HiSilicon Technologies Co (海思半導體) — two of its major clients — which
SETTING AN EXAMPLE: The commission suspended the bank’s two top executives as ‘a warning to all banks,’ while the fine is the biggest to be given to a bank in a single case The Financial Supervisory Commission (FSC) yesterday fined E.Sun Commercial Bank (玉山銀行) NT$20 million (US$693,698) over a theft scandal and punished the bank’s two top executives. A customer relationship manager surnamed Pan (潘) at the bank’s branch in Kaohsiung’s Fengshan District (鳳山) stole NT$140 million from 41 clients over the past seven years, the commission said. Pan secretly transferred the stolen money to accounts belonging to her and her family members by using clients’ debit cards, passwords or documents that were stamped using the clients’ personal stamps between July 2013 and June this year, the commission said. The commission suspended Ben Chen (陳炳良), the
HARD ASK: At a meeting held by the MOEA to talk about the RCEP trade deal, trade associations said that they expect the government to push for more free-trade deals Business representatives yesterday urged the government to slow the appreciation of the New Taiwan dollar, saying that some Taiwanese industries have been undercut by rivals due to unfavorable foreign exchange rates. The government should also assist local industries to expand their domestic market, and push for more bilateral trade deals so that Taiwanese companies can enjoy zero or preferential tariffs on exports, following the nation’s exclusion from the Regional Comprehensive Economic Partnership (RCEP) which was signed by 15 Asia-Pacific nations on Nov. 15, they said at a meeting with the Ministry of Economic Affairs (MOEA). Some participants said that the NT dollar’s
BREATH OF LIFE: The firm said the under-utilized plant should start mass production in the first quarter, timed to coincide with Intel Corp’s release of its Ice Lake server chip Hon Hai Precision Industry Co (鴻海精密) plans to assemble key components for Google servers at its plant in Wisconsin, people familiar with the matter said, finally breathing life into a factory that US President Donald Trump hailed as crucial to bringing manufacturing back to the US. The company has decided to locate production for this new contract at the existing complex rather than make the components at home or in China, the people said, asking not to be identified. The under-utilized plant should start mass production in the first quarter, timed with the release of Intel Corp’s Ice Lake server chips,