Foxconn Group's founder, Mr. Terry Gou, has announced that the company will deepen its commitment to the health industry, and the company's casing manufacturer, Foxconn Technology, has been tasked to take the lead. After investing in EirGenix on behalf of the group, Foxconn Technology's Chief Investment Officer, Mr. William Hung, shouted on the 27th that "there is no limit to biotechnology investment" and will initiate a merger and acquisition to see results next year at the earliest. The company is optimistic that the threshold of the industry is higher than that of Foxconn's own industry, and the gross margin is also better.
Foxconn Technology is showing its determination to target the health industry by organising a biotechnology innovation team competition yesterday, in the hope of finding the next mountain of protection in Taiwan. The competition will provide teams with a different way of thinking about business transition, and Foxconn will work with them to create maximum benefits from team coaching, capital investment, product development, manufacturing and marketing.
In recent years, Foxconn Technology has been mulling over its transformation. After taking a key step forward with its investment in EirGenix, it has taken over the H Spectrum platform from the YongLing Foundation this year and fuelled to upgrade it to the H Spectrum+ platform, extending from team coaching to capital investment to accelerate the commercialisation of new biotech teams in Taiwan.
After the retirement of Guo, the company has been actively working to enhance the value of Taiwan's health industry, including the introduction of the BNT vaccine and the development of a 10-year anti-cancer plan.
In order to gain its foothold in the industry, Foxconn has made great efforts to prepare for the project this year. It has recruited Willim Hung, a medical doctor from National Taiwan University and a consultant from the Biomedical Translation Research Centre of Academia Sinica, as its chief investor, and set up an investment team to find investment targets through professional insight.
According to Hung, H.Spectrum has used its entrepreneurial training platform to turn around the employment dilemma of young people, the concept of nurturing talents in the biomedical field, and the possibilities of various biomedical entrepreneurship in order to bring more possibilities and talents to the biomedical industry, and has successfully become the first biomedical entrepreneurship accelerator in Taiwan, and has so far successfully nurtured over 80 groups of new start-up teams, including 400 doctors, engineers, designers and other biomedical talents. To date, it has successfully nurtured more than 80 teams of new entrepreneurs, including 400 doctors, engineers, designers and other biomedical talents from various fields.
H Spectrum+ invited 55 potential start-up teams to participate in a pitch competition to select outstanding start-up teams to fund. AcroViz, QT Medical and Taiwan RedEye Biomedical were on the list of funding.
Although it does not contribute much to the overall revenue, it is growing rapidly and Taiwan's health industry has a competitive advantage, Hung added.
Hung stressed that as long as there are good investment targets, there is no limit to investment. The investment team is now actively looking for or contacting biotech companies with high potential, and expects to have merger and acquisition results next year.
