Singapore: Underscoring the Taiwan government's determination to foster biotechnology and fast-track the development of local healthcare sector, the government has launched a new industrial incubation center at Hsinchu Biomedical Science Park (HBSP).

The inauguration ceremony was attended by MOEA deputy minister Mr Cho Shih-chao, Science and Technology, vice minister, Mr Chen Ter-shing and Health and Welfare vice minister Mr Shiu Ming-neng.

The center is the third comprehensive biotech cluster in Taiwan following Pingtung Agricultural Biotechnology Park in Pingtung County and Taiwan Orchid Plantation in Tainan City.

The facility would provide comprehensive support for businesses and R&D work on high-end medical materials and new medicine and also propel local startups to join the international industrial chain.

Speaking at the event, Mr Ma Ying-jeou, president, said, "Biomedicine is a star industry of the 21st century. Its development has been a key focus of the government's i-Taiwan 12 Projects since I took office in 2008. The HBSP is one major plank in completing these projects. The center's launch shows the progress that has been made and we are one step closer to seeing the country's biomedical sector reach new heights."

Mr Shih-chao said that the center would help in further bolstering the biotech industry and offer value added services to industry players in a variety of areas including patenting strategies and technology transfer. The facility also aims to organize events to encourage foreign investment and provide business matchmaking sessions.