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HKSTP and Industry Partner to Boost Life Science Innovation

Image Credits: HKSTP, Press Release

HKSTP has entered a strategic partnership with a Swiss multinational pharmaceutical company to position Hong Kong and the Greater Bay Area as a leader in life science innovation and set an example for the region. This is the first collaboration between HKSTP and the life sciences corporation that encompasses technology and data sharing.

The two are committed to promoting life science innovation and healthcare policy. They aim to provide a robust platform and support for start-ups in Hong Kong and mainland China by creating an ecosystem for healthcare start-ups. The goal is to make the Greater Bay Area a leader in life science and healthcare innovation and serve as a model for the rest of China in terms of technology application and registration. Additionally, they hope to establish the GBA as a hub for talent and corporates in the Asia Pacific region.

The principal areas of collaboration are:

  • Shaping Policy – A white paper to articulate policy recommendations, organising a public forum and a round-table for an in-depth discussion with government officials;
  • Co-incubation program – providing the start-ups with support and guidance on science, strategy and marketing, and creating a platform for the start-ups and potential partners to network and exchange; and,
  • Data collaboration – Fostering a conducive data-sharing environment in the STP Platform and among stakeholders; exploring synthetic data generation tools; promoting the “data collaboration” concept to the community.

The Secretary for Innovation, Technology and Industry was one of the witnesses to the Collaboration Agreement Signing Ceremony, he stated that the partnership aligns with the Hong Kong Innovation and Technology Development Blueprint recently released.

With the strong support from the Central Government and the government’s commitment to I&T development, as well as Hong Kong’s unique advantages, the partnership will greatly contribute to the development of a world-class biomedical ecosystem in Hong Kong.

The CEO of HKSTP stated that the partnering firm is a global pharmaceutical leader with strong connections to business leaders, scientists, marketers, and investors globally. It is believed that the partnership will foster the development of more health talents and significantly speed up growth in our medical research, drug development, and clinical trial processes.

The Head of the firm’s China-based innovation centre stated that the company is so glad to see this collaboration happen. It is hoped that the partnership can bridge HK and other cities in China for more opportunities to exchange, collaborate and empower start-ups; accelerate conversion and commercialisation; and to bringing hope to patients in China.

The APAC Sub Region 3 Head of the firm’s diagnostics arm noted that Hong Kong has a great foundation of scientific research. The firm looks forward to this collaboration in advancing high-quality research work, building a platform for innovation and benefiting the Asian population as well as the rest of the world.

The launch ceremony was attended by various dignitaries including the Under Secretary for Innovation, Technology and Industry; the Commissioner for Innovation and Technology, the Head of APAC Area at the firm, the Head of the firm’s accelerator (CICoR), the General Manager, Hong Kong and Macau and Mr Ronald Lo, General Manager, at the firm’s Hong Kong and Macau diagnostics arms.

Recent research has found that the global life science analytics market size was valued at US$ 8.3 billion in 2021, and is expected to grow at a compound annual growth rate (CAGR) of 7.7% from 2022 to 2030. This growth is driven by the increasing adoption of analytics by the life science industry, which uses descriptive and reporting analysis for building databases and prescriptive and predictive analysis for predicting future trends and results.

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