In Taiwan, the scientific research is conducted mainly by the academic research institutes, whereas the industrial technology development by industrial technology research institutes and enterprises. In this paper, we investigate the correlation between science and industrial technology in Taiwan with the analysis of R&D investments, including the number of Ph. D. level research man power and R&D expenditures, in academic research institutes, industrial technology institutes and enterprises and their associated R&D outputs, such as published papers and issued patents. Results suggest that the government should take measures to reduce the disparity of investments made in science and industrial technology.