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venture capital. However, because of a lack of domestic companies, there is little activity in these areas. Financing infrastructure scores for Taiwan are good for the government and poor for other sources of nancing. Taiwan s biotech industries are rated as fair in pharmaceuticals and poor across the secondary biotech areas because it lacks the education and labor infrastructures in the life sciences to take part in signi cant re search and development en route to commercialization. However, given its talent pool, Taiwan may be able to position itself as a hub of biotech com merce for the region a title that it won t be able to secure without a ght from countries such as Singapore.
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Singapore s biotech infrastructure is among the best in the region, with rat ings of good in information technology, legal-regulatory, intellectual property, education, and public attitude. Only labor receives a fair rat ing because it lacks depth and breadth, even though Singapore has been quick to import biotech expertise to compress the learning curve of local academic and research institutions. Leading life scientists from the United States and Europe have been attracted to Singapore with signi cant salaries, the latest in laboratory equipments, few restrictions on the use of stem cells and other areas restricted elsewhere, and ample funds for re search. For example, the scientist who cloned Dolly the sheep was con vinced to relocate to Singapore. Similarly, a leading MIT professor was recruited by A*STAR to head Singapore s Institute for Bioengineering and Nanotechnology. A top researcher from the National Cancer Institute in the United States was hired to head the Genome Institute. An entire re search lab from Kyoto University was enticed to join the Institute of Mole cular and Cell Biology. It remains to be seen if dozens of the top American, European, and Japanese biotech researchers are suf cient to create a criti cal mass of researchers or to translate research ndings into commercial products in the near term. Financing in Singapore is heavily reliant on the government and strategic alliances with offshore companies and countries, and to a lesser degree on private investors and venture capital. The government estab lished the Biomedical Science Group as a division of the Singapore Eco nomic Development Board for industrial development of biotech, which provides economic incentives to biotech companies establishing headquar ters in Singapore. To support research and development in the life sci ences, Singapore established the Biomedical Research Council of the Agency for Science, Technology and Research (A*STAR), which funds ba sic and applied research, scholarships for advanced studies in biotechnol
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ogy, and technology transfer and commercialization. A*STAR has a bud get of about $800 million. In an effort to enhance technology transfer, the government committed to creating an enclosed biotech research park, Biopolis, near the National University of Singapore. The seven-building complex is speci cally de signed to support every stage of the biotech industry, from basic science re search and development to commercialization. This highly Westernized country has a tradition of actively seeking partnerships with offshore governments and corporations, thereby acquir ing local expertise and internal innovation while providing Singapore s partners with a portal into the Asian economy. The government actively encourages multinational pharmaceutical companies to set up shop in Sin gapore by providing a clean, safe, and modern environment for workers, a young, highly educated workforce, and a legal structure that recognizes in ternational patents. Singapore also attracts locally based strategic joint ventures with multinational biotech rms through dedicated funds. Gov ernment money is available for biotech startups, from outright grants of seed capital to matching funds programs. Virtually all funds provided by the Government are tightly focused on ventures with the greatest potential for signi cant economic impact for the country. Despite Singapore s stellar work at creating a viable biotech infrastruc ture, of its biotech industries, only pharmaceuticals receive a rating of good. Medical biotech is rated as fair because of a lack of critical mass. For its size, Singapore s medical capabilities are phenomenal, and in clude a nationwide computerized medical records system that facilitates running and recording clinical trials results. As a result, unlike many other Asian countries, many of the multinational pharmaceutical companies have established research and development centers in Singapore, and many engage in drug development, including clinical trials. As in most of the Pa ci c Rim, the agriculture, military, computing, and biomaterials markets are rated as poor.
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