Newly minted Industrial Technology Research Institute (ITRI) Laureate Yang Yu-ming said that Taiwan’s biotechnology sector is at the cusp of a “perfect storm” moment. The ITRI Laureate hopes that Taiwan’s biotechnology will follow precedents in the electronics and semiconductor sectors in building comprehensive ecosystems and developing a deep pool of cross-industry talent and leaders with the support of sound government policies and business environment. Yang also said that continued regulatory reforms must be able to prevent misconduct as well as spur on new opportunities.

In the past few decades, the biotechnology, health and medical care industries have seen rapid growth. At the same time, leaps in the development of biology, chemistry, medical sciences, engineering, computing, big data and the Internet have set the conditions for a “perfect storm” for the biotechnology sector, Yang said, noting that “perfect storm” is a meteorological term denoting an immense destructive force.

According to Yang, Taiwan’s electronic and semiconductor industries built their respective groundworks and ecosystem more than 40 years ago. Similarly, for the biotechnology industry, while technological advancements have greatly enhanced innovations research, the industry also needs to be supported by talent and leaders as well as an adequate business environment with ample incentives. Yang hopes to see the establishment of a fair, just and transparent regulatory regime that is constantly being reformed to prevent misconducts and create the conditions for new opportunities. Yang also hopes that Taiwan’s younger generation will be able to take advantage of the coming perfect storm and set sail towards a new biotechnology and pharmaceutical manufacturing ecosystem.

【2019-10-15 / Liberty Times】