The Institute for Biotechnology and Medicine Industry (I.B.M.I.) convened its annual conference on the 4th, marking a significant milestone as the institute relocated to its new office. Chi-huey Wong, President of I.B.M.I., outlined the institute's vision for the next decade, emphasizing its commitment to deepen engagement and broaden services across industries, with a specific focus on advancing "startup development" and "international trade."
Yesterday, I.B.M.I. inaugurated its new premises at the Taipei Bioinnovation Park, with President Tsai accompanied by Presidential Advisor Rong-jin Shen and Deputy Secretary-General Dun-han Chang. They were joined by Ming-hsin Gong, Chairman of the National Development Council, Taoyuan Mayor San-cheng Chang, Jin-pyng Wang, Founder of the I.B.M.I., alongside President Chi-huey Wong, Vice Presidents Barry Lam, Pan-chyr Yang, Chang-hai Tsai, and Chairman of the Board of Supervisors Wei-chao Chen, among others, at this year's I.B.M.I. annual conference.
President Tsai underscored I.B.M.I. 's pivotal role in advancing Taiwan's biomedical and healthcare sectors, noting the gradual shaping of Taiwan's biomedical industry chain through collaborative efforts. Leveraging national health insurance and Biobank foundations, Taiwan has developed a robust big data system of healthcare. Additionally, Taiwan has successfully expanded international biomedical business opportunities through information and communication science technology, thereby promoting precision healthcare.
Chi-huey Wong reflected on I.B.M.I. 's journey since its establishment by Chairman Jin-pyng Wang in March 2002, spanning over two decades. I.B.M.I. has served as a key linkage between government and businesses, endeavoring to foster Taiwan's biomedical industry development. From policy advocacy and medical quality enhancement to startup encouragement and healthcare industry promotion, I.B.M.I. has collaborated with governmental, academic, and industrial sectors to tackle various challenges and needs at different industry developmental stages.
Given the global aging trend, global healthcare expenditures are expected to reach around $15 trillion by 2030, constituting approximately 12% of global GDP, with early diagnosis and prevention expenditures projected to reach around $4 trillion. Consequently, the biomedical industry has shifted towards preventive precision healthcare from traditional disease treatment, presenting opportunities for Taiwan, especially in leveraging high-tech ICT for efficiency and precision.
Looking ahead, Chi-huey Wong underscored I.B.M.I. 's commitment over the next decade to deepen engagement at the Taipei Bioinnovation Park, expand Bio-industry services, and bolster efforts in promoting "startup development" and "international trade." I.B.M.I. will extend full support to biomedical startups in attracting venture capital to expedite research and development and market penetration. Furthermore, it will continue to foster international connections to facilitate the internationalization of Taiwan's niche innovative technologies and products.
