HKSTP, AstraZeneca introduce biotech incubator program

HKSTP and AstraZeneca employees at the co-incubation program signing ceremony.

The Hong Kong Science and Technology Parks Corporation (HKSTP) and AstraZeneca have launched a co-incubation program to support biomedical startups as they look to develop integrated oncology solutions to further accelerate innovation in oncology, foster local biomedical technologies and heighten Hong Kong’s status as a biomedical innovation hub.

Successful program applicants will be eligible to a series of professional support from HKSTP, including funding of up to about $774,000 (HK$6 million), working space and advanced laboratory facilities, as well as using HKSTP’s value-added services platform, which provides business matching opportunities with strategic partners and potential investors, along with talent support.

As for AstraZeneca, the big pharma will support startups and help connect them with industry stakeholders and partners, so that they can have a better understanding of industry information and related opportunities. The company will also leverage its existing networks with Mainland China and global markets, including the Wuxi International Life Science Innovation Campus (I·Campus), co-built with local government and Emerging Markets Health Innovation Hubs, SLUSH and Cambridge Network, to provide platforms for exploring opportunities overseas.