The Taiwanese government’s National Development Fund has announced plans to invest TWD 24 billion ($731.7 million) to develop the country’s domestic biotechnology industry, including TWD 60 billion in funding next year. Private investments in the program are expected to be TWD 36 billion. In addition to the TWD 3 billion limit on funding from any one business group, new regulations require that the government invest in no more than three venture funds controlled by one business. Venture capital investments in the program are estimated to be TWD 60 billion, with 60% coming from private sources. In 2010, the government estimates it will invest TWD 6 billion in venture capital funds.

Source: Taiwan Today