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InvestHK and a company that provides industry-leading audit, consulting, tax, and advisory services jointly released a report titled “Unlocking Life and Health Sciences Potential,” offering an in-depth analysis of Hong Kong’s L&HS landscape. The report highlights key business opportunities across the value chain, from research to commercialisation, in pharmaceuticals, medical devices, diagnostics, smart healthcare, and traditional Chinese medicine.
This report is a comprehensive guide, informed by industry experts, researchers, and ecosystem stakeholders. It underscores Hong Kong’s growth opportunities in the tech-driven healthcare sector and showcases the city’s capabilities in research, infrastructure, funding access, business environment, and its role as a gateway to the Greater Bay Area and new international markets.
The head of the Capital Market Services Group, Hong Kong emphasised that Hong Kong’s dynamic and data-centric healthcare system fosters research excellence and enables practical applications, particularly for startups and multinational corporations. The city’s listing rules have transformed it into a premier exchange for biotech IPOs, attracting numerous life sciences and healthcare companies.
In addition to these strengths, Hong Kong benefits from various national, regional, and local policies that support its healthcare and biotech sectors, making it an attractive destination for tech-driven businesses. The city’s competitive tax regime further incentivises companies to establish a presence in Hong Kong.
The Consulting Partner of the company invited researchers, innovators, and investors to leverage Hong Kong’s research resources, commercialisation capabilities, and vibrant tech ecosystem to contribute to global efforts in science, research, data, and digital technologies in the post-COVID era.
The report was launched at the Invest Hong Kong (InvestHK)-organised Innovation Summit which aimed to light on the advancements in Hong Kong’s life and health sciences (L&HS) sector and explore pathways for international tech businesses looking to enter the Hong Kong market.
Over 150 people attended, both online and offline, including industry leaders, investors, medical professionals, financial experts, and service providers. The event served as a platform for networking, creating business prospects, and highlighting the technological strengths of Hong Kong’s L&HS sector in terms of research, investment, and financial capabilities.
The Under Secretary for Innovation, Technology, and Industry emphasised the Hong Kong government’s strong support for research and startups in life and health technology. Hong Kong, with its robust research capabilities and originality, stands as an ideal hub for global collaboration in life and health disciplines.
The Acting Director-General of Investment Promotion at InvestHK highlighted Hong Kong’s unique advantages in biotech development, encompassing academic excellence, top-tier R&D infrastructure, strong intellectual property protection, and government commitment.
The Head of Innovation and Technology at InvestHK pointed out Hong Kong’s efforts to strengthen its position in connecting tech companies across the Greater Bay Area, Mainland China, and overseas markets, offering substantial business opportunities.
Hong Kong has been at the forefront of innovation with groundbreaking developments such as an intranasal COVID-19 vaccine, potential solutions for countering Alzheimer’s disease, and advancements in cancer treatment using CAR-T and gene therapy. The city has also launched the Hong Kong Genome Project to keep up with international trends in genomic medicine and precision health.
OpenGov Asia reported earlier that the Hong Kong Science and Technology Parks Corporation (HKSTP) has collaborated with an organisation that provides a platform of programs and initiatives aimed at creating one global entrepreneurial ecosystem on a mission to facilitate tech innovators’ access to global growth opportunities while extending Hong Kong’s tech innovation ecosystem to the organisation’s network of 200 markets worldwide.
The collaboration between HKSTP and the organisation entails mutual exchange programs and activities aimed at promoting cross-border and cross-sector collaboration, with a specific focus on tech sectors such as Green Tech, Life Sciences, Advanced Manufacturing, SmartCity, Mobility, AI, and Fintech. The organisation’s annual flagship events, including Global Entrepreneurship Week and the Global Entrepreneurship Congress, offer ideal platforms for extending Hong Kong’s I&T ecosystem into new markets.
