Funding Support of up to HK$6 million for Biomedical Startups

Business | 24 Feb 2021 8:00 am

In hopes to Lead “Made in HK” Oncology Innovation

Assistance during the growth of a startup is of paramount importance. AstraZeneca and the Hong Kong Science and Technology Parks Corporation (HKSTP) have launched co-incubation programme (Incu-Bio) with an unprecedented two-year, oncology-related collaboration project to attract local and overseas startups to embed themselves in the Science Park and develop comprehensive oncology diagnosis and treatment solutions. Successful applicants of the programme will be eligible to support including the funding of up to HK$6 million, as well as business matching opportunities with strategic partners and potential investors from Mainland China and global markets.

Cancer has been an escalating threat to human being. Today’s cancer treatment solutions, physical checkups, diagnosis, treatment, follow-up, and rehabilitation are all interrelated. Improvements in any aspect of the patient journey will create huge opportunities to drive better treatment outcomes. To foster Hong Kong’s biomedical technologies, AstraZeneca and the HKSTP have launched the captioned programme.

Funding Support of up to HK$6 million

Successful applicants of the programme will be eligible to a series of professional support from HKSTP, including the funding support of up to HK$6 million, working space and advanced laboratory facilities, as well as leverage HKSTP’s value-added services platform which provides business matching opportunities with strategic partners and potential investors, and talent support. Albert Wong, CEO of HKSTP, said: “Biomedical technology is a key strategic focus for HKSTP. This partnership between HKSTP and AstraZeneca marks a key milestone in HKSTP’s mission to continually drive Hong Kong’s biomedical technology development. With the professional knowledge, rich industry experience and global cooperation network from AstraZeneca, together with our world-class infrastructure and support, we will be able to attract high potential startups to land in Hong Kong, accelerate their growth, bring widespread benefit to cancer patients, and establish Hong Kong as a global leader in biomedical innovation.”

 R&D boost for biomedical startups

Gwenael Meneux, General Manager of AstraZeneca Hong Kong & Macau, said: “We look forward to our first collaboration with HKSTP, which hopefully will create a vibrant medical ecosystem. Incu-Bio startups, together with a medium-sized medical innovation technology company that already have a certain scale, will be able to make full use of Hong Kong’s professional talents and innovative technologies to promote local medical innovation, helping patients with early treatment, enhancing the effectiveness of treatment and maintaining patients’ quality of life.”

AstraZeneca is a sizeable biopharmaceutical company the coordinate R&D worldwide, with networks in Mainland China and overseas including the Wuxi International Life Science Innovation Campus (I·Campus) co-built with local Government, Emerging Markets Health Innovation Hubs, SLUSH and Cambridge Network. It is hoped that these networks can be fully utilized to create opportunities for HK biomedical startups, and eventually benefiting local and even global cancer patients.

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