Source: Taiwantrade | Updated: 03 January 2013
Nearly 30 Taiwanese doctors and professionals have participated in the seven-year Stanford-Taiwan Biomedical Fellowship Program (STB), and 17 have come back to Taiwan to either start their own business or transfer technological expertise to commercial production, said Lin Bou-wen, who is in charge of the program in Taiwan.
The 17 returning participants have already established eight startups or innovation teams, but the business aspect is still in the early stages, he said at a press briefing.
In 2011, the output value of the industry in Taiwan totaled US$2.5 billion, less than 1 percent of the global market of US$273.3 billion, he said.
The sector has been growing annually by 4 to 6 percent because of the aging society and an increasing number of people suffering from chronic diseases, according to Lin.
Initiated in 2008, the Taiwan-U.S. cooperative project is a multidisciplinary program to train the next generation of medical technology innovators and create an innovative core in Taiwan, according to the NARL.
Under the project, 41 Taiwanese professionals are being sent to the U.S. over a seven-year period at an annual cost of US$1.03 million.
Alongside that program, the NARL said, it has also launched a local project to nurture talent in medical technology-related fields and so far, has produced over 30 innovations of commercial value.