Taiwan Biotech Industry Heats Up

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Biotech is hot in Taiwan, with a number of high profile companies emerging over the past few years with significant market capitalizations on the promise of bold new drugs and the incoming administration of Tsai Ing-wen promising even greater support.

At the AmCham Medical Devices, Pharmaceutical, and Public Health Joint Committee Luncheon on April 19, Dr. Chi Wei-kuang, Director and Distinguished Scientist of Bioengineering Group at the Development Center for Biotechnology (DCB) shared “Taiwan’s vision and current stage in biotech industry.”

Some key takeaways offered by Dr. Chi include:

  • Taiwanese firms are involved in both the production of conventional “small molecule” pharmaceuticals as well as the development of cutting edge “large molecule” biological drugs derived from cells
  • Taiwan’s biotech firms include Taimed, Medigen, TaiGen, TopoGenomics, TTY Biopharma and many others with a combined market cap of US$23 billion
  • Taiwan currently has 96 drugs in the development pipeline, over half of them in Stage 2 clinical trials
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Dr. Chi Wei-kuang presents the Taiwan biotech industry’s “Diamond Action Plan” to AmCham Taipei leaders.

The newer field of Biological drugs is seen as offering highest value with lower capital investment and operating costs, where key areas for drug development include oncology, central nervous system (CNS) disease, infectious disease, and inflammation and autoimmune diseases.

Since the early 1980s Taiwan’s government has been offering support to the biotech industry through a number of policies and organizations, but major funding for the industry only occurred over the last 5-6 years.

Key policies to watch for the Taiwan Biotech Industry:

  • Statute for the Development of Biotech New Drug Industry
  • Biotech Industry Takeoff Action Plan
  • Diamond Action Plan for Biotech Takeoff

Key organizations involved in the industry’s advancement

  • Development Center for Biotechnology (DCB)
  • Taiwan Food and Drug Administration (TFDA)
  • Biomedical Engineering Research Center (ITRI)

Funded by the Ministry of Economic Affairs, Taiwan’s DCB offers support bridging the gap between primary research and drug commercialization. The National Research Program for Biopharmaceuticals will expire in 2016, but will be replaced by the BioEconomy Plan.

Taiwanese biotech firms, though small, are highly innovative and are actively collaborating with foreign firms for advanced clinical trials and drug development. Continued government support is vital for the industry to fulfill its vision.

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AmCham Taipei Vice Chairwoman Libby Driscoll (left) and Chairman Dan Silver (right) present Chi Wei-kuang with a token of appreciation following his presentation.

AmCham delegation visits Premier-designate Lin Chuan

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An AmCham Taipei delegation led by Chairman Dan Silver met with Premier-designate Lin Chuan on April 8 to brief him on some issues impacting the business environment in Taiwan. Lin was accompanied by Dr. Shih Jun-Ji, who will serve in the new government as one of the Ministers without Portfolio.

The discussion covered the following issues:

  • Suggested revision of the Administrative Procedure Act to create greater transparency and consultation with stakeholders in the regulation-making process. Examples of recent problems in the retail sector were cited.
  • The need for a more transparent and predictable foreign investment approval process.
  • Ideas for making Taiwan more competitive in attracting and retaining talent. These include creating reviewing the current income tax structure, revising work permit and visa requirements, and allowing for more flexible rules on working hours for white-collar workers.
  • The need to assure a stable and cost-competitive energy supply for Taiwan industry

“We were honored to have the chance to meet with the prospective new Premier even before his taking office. Dr. Lin was already familiar with many of our issues from reading our Taiwan White Paper, but it was an excellent opportunity to offer further explanation. We look forward to frequent and positive interaction with the new government in the months ahead.” — AmCham Taipei President Andrea Wu

Read and download the AmCham Taipei White Paper here. 

The delegation consisted of:

  • AmCham Taipei Chairman Dan Silver, General Manager of Abbott Vascular Hong Kong & Taiwan
  • Andrea Wu, AmCham Taipei President.
  • Daniel Tseng, AmCham Taipei Vice Chairman and President of Corning Display Technologies Taiwan.
  • Paul Cassingham, Former Chairman of AmCham Taipei and Senior Legal Consultant, Eiger.
  • Vincent Shih, AmCham Taipei Governor and General Manager of Corporate, External, and Legal Affairs, Microsoft Taiwan.
  • Wern-Yuen Tan, Managing Director, McDonald’s Restaurants (Taiwan)
  • Don Shapiro, AmCham Taipei Senior Director and Editor-in-Chief, Taiwan Business TOPICS
  • Katrina Ku, AmCham Taipei Director of Government and Public Affairs 

 

Premier Chang on Innovation and Taiwanese Startups

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Speaking at a special AmCham Taipei luncheon on April 7, Premier Simon San-cheng Chang stressed the importance of innovation and the success of Taiwanese startups for Taiwan’s economic prosperity.

He noted that Taiwan has many of the attributes needed to become a Startup Nation and a hub for Taiwanese startups:

  • Quality human resources
  • High-quality education, especially in science, math and IT
  • Strong foundation in ICT infrastructure
  • Ideal market size for pilot trials
  • No. 5 in U.S. patents registered

But two major obstacles need to be overcome:

  • A domestic market that is too small to nurture sufficient growth
  • Local venture capitalists that are reluctant to invest in early-stage Taiwanese startups

Chang expressed optimism that Taiwan has the potential to become an innovation hub for the Asia-Pacific region, but it must look beyond its own shores to tap international opportunities.

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In recent years, the government has sought to help promote Taiwanese startups through various initiatives:

  • Support for incubators/accelerators – for example, the Ministry of Science and Technology’s “From IP to IPO” program and the National Development Council’s “Taiwan Startup Stadium” bootcamps.
  • Investment in venture capital funds designed to get international VCs involved in the Taiwan market.
  • Support for regional startup shows, such as MOSA and the “Meet Taipei Startup Carnival 2015.”

The key to future success will be tapping the research potential in Taiwan’s academic institutions as a seedbed for innovation and startups.

Tips and Tricks from Facebook: How to Reach your Audience

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Katie Harbath, Global Head of Politics and Government Outreach, Facebook spoke to AmCham members and guests at a special luncheon March 31 at the Sherwood Taipei.

Harbath, formerly a digital political strategist in the United States before joining Facebook, offered a wealth of insights for how to build meaningful connections and engagement on Facebook for politicians, companies, and other organizations.

Steps to Building a Facebook strategy:

  • Identify your goals. Reach, video views, engagement, list building? “You have to make sure that you are optimizing for the things that are most important to you.”
  • Determine your branding point of view. “What are the attributes that you want people to take away? Does the content that you are putting out match those attributes.”
  • Combine social media with traditional media strategies. These two departments should not be separate. More and more people are getting their news through Facebook, but that is still from traditional news sources.”
  • Focus on good content. “Sometimes I see people making the mistake of getting really excited about all of our targeting tools and all the different ways they can reach different audiences but they don’t focus on the fundamentals of making sure they’ve got great content.”
  • Engage your fans. “People respond a lot more when they know there’s somebody on the other side of that page listening to them and actually respond and engage with them.”
  • Test, iterate, improve, repeat. “At Facebook, we have to keep constantly evolving because how people are consuming content is evolving. And so you also have to think about your own strategies to make sure you are reaching people the way they want to be reached.”

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Taiwan to Join U.S. Global Entry Program

Taiwan enters Us Global Entry Program (Photo:Wikipedia)

The ease and convenience of the 2012 U.S. visa waiver program offered to Taiwanese visitors to the United States propelled visits by some 50%. In the near future, travel for approved Taiwanese visitors will be even easier and more convenient with the inclusion of Taiwan into the U.S. Global Entry program.

On April 4, Joseph Donovan Jr., managing director of the American Institute in Taiwan (AIT), and Shen Lyushun, head of the Taipei Economic and Cultural Representative Office (TECRO), Taiwan’s de facto embassy in Washington, signed an agreement that lays the groundwork for Taiwan to enter into the Global Entry program. While the details have not been finalized, the agreement sets Taiwan on a course for being only the eighth country in the world, and the second in Asia, to provide its citizens with the opportunity to use the Global Entry program.

Global Entry allows pre-approved visitors to skip the long lines at immigration by going to a special kiosk that will scan their passports and fingerprints automatically, allowing them speedy entry into the United States. The program is aimed at low-risk, frequent travelers who have undergone extensive background checks and in-person interviews.

The offer of Global Entry is being reciprocated by Taiwan, which will allow pre-approved U.S. visitors to Taiwan the opportunity to use Taiwan’s E-Gate program, likewise enabling them to avoid the long lines at Taiwan immigration.

Both programs reflect flourishing ties between the two countries, with trade, travel, and research cooperation all growing in recent years. U.S. visitors are now the fifth largest cohort to Taiwan, the only non-Asian country in the top-10.

48th Annual Hsieh Nien Fan Continues Tradition

AmCham Taipei Hsieh Nien Fan

Continuing a long tradition, the American Chamber of Commerce in Taipei held its 48th annual Hsieh Nien Fan banquet on March 30 in the Grand Ballroom of the Grand Hyatt Taipei.

The purpose of the event is to express thanks to Taiwan government officials, the American Institute in Taiwan (AIT), and other friends of the Chamber for their cooperation and support in the previous year. Nearly 700 AmCham members and guests attended.

President Ma Ying-jeou was once again the keynote speaker, and AmCham Taipei presented him with a plaque in gratitude for his participation at 15 Hsieh Nien Fan banquets during his tenure both as President and before that as Mayor of Taipei. Another special guest was Kurt Tong, Principal Deputy Assistant Secretary of State for Economic and Business Affairs, who was introduced by American Institute in Taiwan (AIT) Director Kin Moy. The master of ceremonies was attorney Peter Dernbach, a co-chair of AmCham Taipei’s Intellectual Property & Licensing Committee.

Opening the evening were remarks by AmCham Taipei Vice Chairman Margaret Driscoll, standing in for Chairman Dan Silver, who was overseas and unable to attend the event. Driscoll expressed thanks on behalf of the Chamber to both the Taiwan government and AIT for helping to promote a positive business environment in Taiwan.

President Ma Ying-jeou speaks at AmCham Taipei's 48th Annual Hsieh Nien Fan

President Ma’ speech outlined his administration’s accomplishments, including the successful promotion of a “free, just, and prosperous Taiwan, a peaceful Taiwan Strait, and a friendly international environment.” He stressed the urgency of Taiwan’s participation in emerging regional trade groups such as the Trans-Pacific Partnership (TPP), as well as the importance of maintaining a stable and reliable energy supply.

AIT Director Moy praised AmCham Taipei’s “constructive role” in the U.S.-Taiwan economic relationship and credited President Ma with achieving “something that few thought could be done: simultaneously improving relations with both Washington and Beijing.”

In his remarks, Kurt Tong expressed appreciation for AmCham Taipei’s “constructive, regular outreach to the Taiwan authorities” and for the “efforts of the AmCham Taipei leadership and membership in underscoring how valuable TPP can be to your companies and to the U.S. economic presence in Asia.”

AmCham Taipei Hsieh Nien Fan 2016

High-level dignitaries in attendance this year included:

  • National Security Council Deputy Secretaries-General Andrew Kao and Liu Da-nien
  • Minister of Foreign Affairs David Lin
  • Minister of Economic Affairs John Deng
  • Environmental Protection Minister Wei Kuo-yen
  • Minister without Portfolio Chung Char-dir
  • National Development Council Minister Steve Chu-chia Lin

The evening was made possible by the following sponsors:

  • Platinum Sponsor: Citibank
  • Gold Sponsors: Corning Display; Franklin Templeton Investments; Standard Chartered Bank
  • Silver Sponsors: 3M, HSBC, JTI, and Micron
  • Bronze Sponsors: Air Products, American Express, Baker & McKenzie, Dun & Bradstreet, K&L Gates, Philip Morris, Qualcomm, and Siemens
  • General Sponsors: Audi, Ford Lio Ho, Grand Hyatt Taipei, IBM, Johnson & Johnson, Procter & Gamble, Tobacco Institute of the Republic of China, and UBS.
  • Wine & Liquor: Fratello F&B Int. Ltd., Diageo Taiwan