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Learning from Boston’s Success in the Biomedical Field

2019/12/24

As part of the “Planning and assessment of science and technology policies” research project commissioned by the Ministry of Science and Technology (MOST), the researchers at the STPI visited Boston in order to survey the innovative biomedical field in the United States. Boston has been crowned the number one biomedical hub in the US. The remarkable development in the biomedical field such as holding innovative programs and creating a friendly environment for start-ups, serves as an excellent example for Taiwan. The team also participated in several matchmaking meetings for early-stage investment.

 

During the trip, the team visited the Massachusetts Medical Device Development Center (M2D2) and participated in the Redefining Early Stage Investments Conference in Boston (RESI Boston 2019). M2D2 is a biomedical incubator derived from the University of Massachusetts Lowell (UMass Lowell), which demonstrates a great example of utilizing academic and research prowess to drive industrial development. The RESI Conference is the largest matchmaking event in the biomedical field in North America. Since early-stage investment is crucial to the survival of start-ups, the conference offers an excellent opportunity for participants to understand the matchmaking platform better.

Dennis Ford (3rd from the left), the organizer of the RESI Conference and the STPI team

 

M2D2, located in Lowell, north of Boston, is one of the few incubators which focus on fostering medical device start-ups and smaller medical device companies. In collaboration with the UMass Lowell and the UMass Med school, which provide technologies and resources in engineering and clinical research respectively, M2D2 offers strong support for these companies.

 

The RESI Boston 2019 featured investment forums, innovation challenges, a service providers’ exhibition, and the most important event, the one-on-one partnering sessions. In every RESI Conference, in general, the number of investors will match the number of start-ups. A month before the conference, investors and start-ups can send invitations for one-on-one partnering through the conference system. On the day of the event, each start-up has 16 sessions for partnering, which is highly efficient in raising funds.

 

The trip yielded invaluable insights as to how to perfect Taiwan’s innovative environment in the biomedical field.

M2D2 in Lowell, Massachusetts