Taiwan’s external trade council, TAITRA, has launched a project to bring medical innovations developed in Taiwan to a global market.
The project has been launched with the support of the economics ministry’s Bureau of Foreign Trade.
The project aims to speed up innovation in Taiwan’s domestic medical sector, expand the scope of the biotechnology field in Taiwan, and link up Taiwanese innovators with international markets.
Eleven accelerators and medical experts involved in developing and promoting medical innovations are taking part in the project.
TAITRA Chairman James Huang says that clinical medicine in Taiwan is top-rate, and that Taiwan has accumulated a great potential for innovation in the medical field. Huang says that the project aims to use this potential to help with the entire process of getting innovations out into global markets, starting from the research and development stage.
He says that the project will focus on markets, capital, and marketing. He says it will help Taiwanese innovators overcome the small size of Taiwan’s own domestic market, a lack of international awareness of Taiwanese brands, and the difficulty Taiwanese companies have in securing injections of foreign capital. He says that markets the project will particularly target include the US, Europe, Japan, and the target countries for Taiwan’s New Southbound Policy– Australia, New Zealand, and the countries of South and Southeast Asia.