The Hong Kong Science and Technology Park aims to double the number of start-ups becoming a member of its upgraded incubation programme, with some firms saying the scheme will assist to pace up the commercialisation of their merchandise.
The park on Thursday launched its new life and well being tech-focused incubation programme Incu-Bio, which is designed to provide start-ups help, comparable to help with laboratory analysis, regulatory actions and the development of analysis to a preclinical stage over a four-year interval.
Derek Chim, the park’s head of start-up ecosystem and improvement, mentioned that underneath the programme, enterprises would obtain up to HK$6 million (US$771,000) every in the shape of grants, subsidies and regulatory affairs funding.
The first section of the programme managed to entice greater than 600 candidates, with over 100 start-ups chosen from the diagnostics, medical machine and therapeutics fields.
“We hope to make use of Hong Kong’s advantages to attract mainland [Chinese] life and health tech start-ups, connect them internationally,” Chim mentioned on the revamped scheme’s launch ceremony.
“In terms of quantity, I believe we can at least double the number of companies compared to the first programme.”