Science parks are high-tech clusters intended to boost industrial competitiveness and promote economic development.

To narrow the gap in development of biotechnology, the Executive Yuan approved the "Hsinchu Biomedical Science Park Implementation Principles" on June 1, 2001 and officially approved the "Hsinchu Biomedical Science Park" plan on March 28, 2003. The Hsinchu Biomedical Science Park has been established in accordance with the "Hsinchu Biomedical Science Park Implementation Principles" and developed and managed by the Science and Industrial Park Administration.

The Hsinchu Biomedical Science Park aims to attract businesses that are engaged in the research, development and manufacturing of pharmaceutical products  and medical apparatus . The Park will integrate the advantages of Taiwan's high-tech industry, including such technologies as electronics, information and optronics, as well as corporate management mechanisms as part of a strategy for industrial incubation and to strengthen the funding supply chain to enable formation of an industrial cluster within a short period of time.

To promote research and development in the Park, the Park will reinforce the interactive/cooperative relationships between medical centers/clinical research centers and the park, play an active role in communicating with venture capitalists and plan an industrial investment platform to enable development of competitive and unique pharmaceutical and medical equipment industries. The Park will also plan a biomedical information application coop network and enable technology transfers, cooperation or alliances through the Incubation Center to promote dissemination of research achievements and attract appropriate investment to maximize profits. The Incubation Center will provide professional support with facilities and services and construct an information exchange platform to provide total solutions for businesses from startup to commercialization and maximize the likelihood of success.

The government offers businesses in the Park -various incentives and privileges through a One-stop Service to provide the finest investment environment in an aim to drive technological advancement of the biotech industry and make the Hsinchu Biomedical Science Park one of Asia's pioneer developers of biomedical research in the 21st century.