CE visits biotech start-up
29.7.2021

The Chief Executive, Mrs Carrie Lam, today (July 29) visited a local biotech start-up in Fo Tan to learn more about how the support by the Hong Kong Special Administrative Region Government and the Hong Kong Science and Technology Parks Corporation (HKSTPC) benefitted the advanced manufacturing industry in recent years and promoted the development of re-industrialisation in Hong Kong. Accompanied by the Secretary for Innovation and Technology, Mr Alfred Sit, and the Chairman of the Board of Directors of the HKSTPC, Dr Sunny Chai, Mrs Lam visited the biotech start-up's research and development (R&D) facilities as well as the automated production line at its factory in Fo Tan. She also received a briefing by members of the company on its R&D projects and the progress of product commercialisation. The start-up, one of the partner companies of the HKSTPC, has developed a portable testing instrument which can diagnose specific diseases with a single drop sample on a small chip in just 15 minutes, thus enabling healthcare personnel to conduct rapid testing and make clinical diagnoses early. After setting up an office in Science Park, the start-up worked with a research institute in the park to conduct research and development. The company has received support from the Government in different development stages including subsidies of over $18 million from the Innovation and Technology Fund, of which $12 million is from the Re-industrialisation Funding Scheme launched in the middle of last year on a matching basis. To expand its business, the start-up will move into the Advanced Manufacturing Centre being constructed by the HKSTPC in Tseung Kwan O Industrial Estate to set up more production lines to transform research results into industrial products. The centre is expected to be completed next year. Noting that re-industrialisation in Hong Kong needs to be driven by original R&D and advanced technology, Mrs Lam said that to facilitate such a development direction, the HKSTPC has been committed to providing assistance to scientific technology enterprises and start-ups in recent years and has developed various facilities in industrial estates, including the Precision Manufacturing Centre, the MARS Centre and the Advanced Manufacturing Centre and the Microelectronics Centre, with a total investment of over $9 billion, to assist in fostering smart production. "The current-term Government has been sparing no effort in promoting innovation and technology development in Hong Kong. We have been actively providing support in areas including infrastructure, land, capital, technology, talent, R&D and open data, and have all along been encouraging the development of an advanced manufacturing industry based on new technologies and smart production in Hong Kong. I strongly believe that with Hong Kong's strong R&D capability, as well as the tremendous opportunities brought about by the National 14th Five-Year Plan and the Guangdong-Hong Kong-Macao Greater Bay Area development, re-industrialisation will provide new impetus for economic growth, create quality employment opportunities and enhance the competitiveness of Hong Kong," Mrs Lam said. Ends/Thursday, July 29, 2021 Issued at HKT 21:57 NNNN