Fast-Tracking Biotech Innovation: How ITRI Is Overcoming Bottlenecks and Fueling Taiwan’s Global Startup Boom

The Industrial Technology Research Institute (ITRI) is a key driver of innovation in Taiwan’s biotech sector, helping startups bridge the gap between research and commercialization. How does ITRI help Taiwan’s biotech startups crack the code to success? By linking funding with clinical practice, the institute’s Clinical Trial Green Channel is clearing roadblocks, fast-tracking innovation, and setting companies up for global expansion. Navigating the complex landscape of biotech development—where high costs, regulatory hurdles, and long approval timelines can stall progress—makes these challenges especially tough for startups. In this interview, Eric Chuang, Vice President of ITRI and General Director of Biomedical Technology and Device Research Laboratories, shares how they’re making it happen.

The Problem: Funding and Information Gaps in Biotech Development

Securing funding and navigating clinical trials are major roadblocks for biotech startups. In Taiwan, financing gaps and industry understanding pose challenges. Chuang highlights the difficulty of bridging the funding gap: “Biotech takes time. From R&D to clinical trials and certifications, it’s a long, costly process.” He adds, “Investors need to understand it’s not as fast-paced as the semiconductor or ICT industries.” Taiwan’s biotech sector struggles to attract funding. Chuang says, “The gap in funding isn’t just financial; it’s about understanding. Investors may not grasp the time and effort needed to bring biotech products to market.” Without proper funding, many groundbreaking ideas fail to reach the market.

The issue isn’t just money; it’s the disconnect between investors and startups. “Many great biotech ideas aren’t attracting the investment they need. They’re like ‘a thoroughbred horse without a skilled rider,’” says Chuang. “Investors often struggle to evaluate market value and potential, which creates a significant challenge for growth.” This disconnect can stall promising technologies before they even have a chance to flourish. “Startups are often left in the dark about how to present their projects in a way that resonates with investors,” Chuang adds. “It’s a fundamental barrier.”

In addition to funding, expanding into international markets poses another challenge. “Even with TFDA certification, getting FDA or CE approval is no small feat, and limiting ourselves to the local market is a missed opportunity,” Chuang says. He stresses that global competition for biotech products is fierce, and Taiwan needs a strategy for scaling internationally. “The global market is not waiting for Taiwan’s biotech industry to catch up. We need to move forward with the understanding that international expansion is essential for long-term sustainability.”

The Solution: ITRI’s Support System and Global Ambitions

To tackle these issues, ITRI launched the “Biomedical Innovation InterdisciplinaryCross-Domain Cooperation Platform” in 2023, which focuses on addressing key challenges in the biotech startup ecosystem. “We built this platform to introduce funding and mentorship, accelerating the journey from R&D to commercialization,” Chuang explains. “It’s about creating an environment where startups can thrive with the right support.” The platform works with public and private sector partners, including Chunghwa Capital, PwC Taiwan, and Kuan Liang International. “We’ve brought in experts from all industries to connect the dots,” says Chuang.

Chuang highlights that the real challenge is aligning the right resources at the right time. “Technology must match the right investor. The best products often fail due to a mismatch,” he says. The platform bridges this gap, aiming to accelerate commercialization and support Taiwan’s biotech ecosystem.

With PwC Taiwan, the platform offers consulting in tax, legal matters, licensing, and mergers and acquisitions. “Startups face technical, legal, and financial hurdles. We help reduce those burdens,” Chuang explains. “This allows companies to focus on innovation.”

The platform also aims to help companies expand internationally. “Global exhibitions like MEDICA help secure international collaborations and enter markets like the US, EU, and Asia-Pacific,” says Chuang. “We must build a global presence to unlock Taiwan’s biotech potential.”

Looking at Slow Clinical Trials and Product Commercialization

Once funding is in place, clinical trials become the next major bottleneck. “The key to success in biotech is in the medical institutions,” says Chuang. “They play a critical role in both the clinical trials and the demand side.” It’s here where many biotech startups hit roadblocks. “New biotech companies often face difficulties finding the right hospitals and physicians who are willing to partner with them. Medical institutions can be reluctant to take risks on new technologies, and this creates unpredictable timelines for launching products,” Chuang explains.

ITRI has established partnerships with 23 leading hospitals in Taiwan, creating a “Clinical Trial Green Channel” to speed up the process. “By working with ITRI, we can help startups connect with the right hospitals and doctors, making sure IRB applications get approved quickly—sometimes within a week,” he shares. This green channel reduces time to market by streamlining processes and connecting startups with medical institutions that are familiar with clinical trials and product validation.

“This is a game-changer for many startups,” Chuang adds. “Without these collaborations, startups often struggle to navigate the complexities of clinical trials. The green channel cuts through a lot of red tape and makes the process smoother for everyone.” ITRI’s support system accelerates clinical validation, helping new products get to market faster and with fewer hurdles.

Improving Cross-Domain Collaboration for Long-Term Care in an Aging Society

Beyond clinical trials, cross-domain cooperation is essential to create more competitive and holistic solutions. One example of this is the “Silver Hair Treasure Chest” initiative, which addresses Taiwan’s aging population and long-term care challenges. “We’re bringing together over 30 partners from various sectors, including private care providers, tech companies, and academic institutions,” says Chuang. This initiative is a comprehensive solution to Taiwan’s elderly care issues, showcasing how the power of collaboration can solve large-scale challenges. “By involving different industries, we can create an ecosystem of support for the elderly,” he says.

A notable partner, Cathay Life, has developed a mobile app to track cognitive decline in the elderly, with over 3 million users and high satisfaction ratings. “The app, FitBack, is one example of how technology can play a role in elderly care,” says Chuang. “The key is creating a product that resonates with the needs of the elderly population, and FitBack is helping us do that.” The collaboration is not stopping at just cognitive care—ITRI plans to expand into physical care services and assistive devices, addressing the full spectrum of elderly care needs.

“Collaborating across sectors like this is key to creating robust solutions that can be adapted for global markets,” Chuang notes. Taiwan’s biomedical sector is not just solving local challenges—it’s creating opportunities that can scale internationally. “With the right partnerships, we can take these innovations and make them available worldwide. There’s a huge opportunity for Taiwan to lead in global aging solutions,” he adds.

Connecting Resources, Reducing Barriers, and Taking Biotech Global

From funding and clinical trials to international expansion and cross-sector cooperation, ITRI is working to solve the critical issues facing Taiwan’s biotech startups. “The focus is clear: connect resources, reduce barriers, and enable biotech companies to go global,” Chuang concludes. “We’re creating an ecosystem that helps startups at every step of the way, from the lab to the market.”

With a comprehensive support system in place, Taiwan’s biotech future looks positioned for success, both locally and on the world stage. Chuang’s vision for the future is bright: “By fostering collaboration and supporting global expansion, we can transform Taiwan’s biotech industry into a key player on the global stage.” The biotech sector is set to thrive with the backing of ITRI, ready to face challenges head-on and seize opportunities for global growth.

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Author

Bernice Lottering