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East Asia Economic Mission Trip Daily Recap - 10.21.23

10/21/2023

New Jersey and Taiwan

Hsinchu, Taiwan – Governor Phil Murphy, First Lady Tammy Murphy, and the New Jersey delegation wrapped up their nine-day Choose New Jersey Governor-led economic mission to East Asia today in Taiwan. The trip reaffirmed the synergistic relationship between New Jersey and Taiwan, partnering with key industry leaders to provide new opportunities for growth across economic, educational, and technological sectors in both regions. Today, the Governor and First Lady visited Hsinchu Biomedical Science Park – known as “Taiwan’s Silicon Valley” – for a biotechnology event celebrating an agreement between BioNJ and Taiwan BIO, two prominent life-sciences trade associations.

Governor Phil Murphy, First Lady Tammy Murphy, and the New Jersey Delegation Attend Biotech Event at Hsinchu Biomedical Science Par

Governor Phil Murphy, First Lady Tammy Murphy, and the New Jersey delegation visited Hsinchu Biomedical Science Park in Taiwan to celebrate the signing of a Memorandum of Understanding (MOU) between life sciences trade associations BioNJ and Taiwan BIO. BioNJ represents an association of New Jersey-based pharmaceutical companies while Taiwan BIO represents prominent biotech industry companies in Taiwan. The MOU signing marks the beginning of an open, cooperative relationship between the two leading life sciences associations. The event also welcomed biotechnology and pharmaceutical executives to explore and network in Taiwan’s emerging biotech sector. Chung-hsiun Wu, Chairman of the Board of Taiwan BIO, gave remarks, and Choose New Jersey President and CEO Wesley Mathews spoke at the event on behalf of BioNJ. Governor Murphy and Tim Sullivan, CEO of the New Jersey Economic Development Authority, also spoke at the event.

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Governor Phil Murphy, First Lady Tammy Murphy, and the New Jersey Delegation Participate in the Signing of a Memorandum of Understanding Between New Jersey Institute of Technology and National Tsing Hua University

Governor Murphy, First Lady Tammy Murphy, and the New Jersey delegation celebrated the signing of a Memorandum of Understanding between New Jersey Institute of Technology (NJIT) and National Tsing Hua University (NTHU), a leading comprehensive research university in Hsinchu, Taiwan. NJIT and NTHU have agreed to exchange resources and assets, aiding in joint research projects with their respective faculty, students, and staff. The projects will explore the disciplines of material science and engineering, bioscience and bioengineering, environment and sustainability, artificial intelligence, machine intelligence, advanced manufacturing, data science and management. The site visit to NTHU also allowed Governor Murphy to connect with students through a fireside chat about the role of artificial intelligence in the semiconductor industry. John Kao, President of NTHU, and Teik Lim, President of NJIT gave remarks.

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Governor Phil Murphy, First Lady Tammy Murphy, and the Choose New Jersey Delegation Visit Startup Island Taiwan

Startup Island, the national startup brand of Taiwan, hosted Governor Murphy, First Lady Tammy Murphy, and the New Jersey delegation for a fireside chat alongside Po Chen, CEO and founder of CancerFree Biotech. The Governor also recorded an episode of Startup Island’s podcast, with Wendy Wu and Ko Chi of Meet Startup, and Kathy Naasz from NJII. Startup Island was founded to give Taiwanese startups the necessary resources to establish enterprises in global hi-tech industries. This collaboration between New Jersey and Taiwan signals a shared interest in developing diverse, innovative startup ecosystems, boosting economic and entrepreneurship opportunities for both regions.

Governor Phil Murphy, First Lady Tammy Murphy, and the Choose New Jersey Delegation Attend Invest in New Jersey Reception and Dinner

Governor Murphy, First Lady Tammy Murphy, and the New Jersey delegation attended a dinner hosted by CDIB Capital Group, with select portfolio companies.

“Being able to represent New Jersey's tech community on the Governor's trade mission to Asia has proven tremendously fruitful. From the impressive experience at the LG Science Center to the engineering prowess exemplified at Tsing Hua University in Taipei, I had innumerable discussions about ways we can drive investment from innovative Japanese, South Korean, and Taiwanese companies into New Jersey, as well as ways many of our TechUnited members can leverage the strength of the Asian markets we visited. Additionally, it's rare to have so many influential leading New Jersey organizations in one room. The group was able to form friendly connections that have already birthed new collaborations. From talking about how tech and innovation can continue to give our large organizations like RWJBarnabas Health, PSEG, Johnson and Johnson, Prudential, and more a leg up in the innovation economy, to brainstorming how TechUnited can unify, mentor, and invest in entrepreneurs among Rowan University, Rutgers University, NJIT, Princeton University, Kean University, Stockton University, and Montclair State University, collaboration was a key theme. I'm proud to have represented our incredible tech community, from startups to enterprises, on the trip and equally proud to carry our overall message for why New Jersey is a leading place to do business.” -Aaron Price, President and CEO of TechUnited:NJ

The 9-day, three-country Choose New Jersey Governor-led economic mission to East Asia reinforced the strong economic ties between the New Jersey and East Asia and promises to have a strong economic impact for years to come.

Please visit choosenj.com/EastAsiaMission to learn more and follow coverage of the historic Governor-led economic mission to East Asia.

Members of the media may access photos from the trip here, courtesy of Kevin Sanders at the New Jersey Globe.