On Aug. 19th 2011, the Taiwan Cabinet commenced the Taiwan Medtech Fund (TMF). TMF aims to increase investment in high-end medical devices in Taiwan. The fund plans to raise about $173 million over the next few months.
Taiwan has been in talks to develop its medical technology sector for more than 20 years. However, a shortage of capital and understanding of the sector’s importance have impeded progress.
The fund plans to create incubation centers that will help generate, develop, and commercialize projects involving new high-end medical devices. In order for a project to receive funding, products must be produced, researched, commercialized, or developed in Taiwan. The TMF is interested in investing in projects that research illnesses such as sleeping disorders, diabetes, cardiovascular diseases. In addition, other fields such as neurosciences, orthopedics, and home-care medical devices will also likely receive funding.
Taiwan has many advantages in developing and commercializing high-end medical devices. Officials cite strong industrial infrastructure, experienced professionals, and advantageous geographical location as some of Taiwan’s strengths among other Asian nations.
So far, only about $6.9 million has been invested in the TMF.