Business
HKIC Boosts Hong Kong’s Competitive Edge: Invests in Biotech, Sustainable Energy, and Health Start-ups Ninenovo, Emaldo, and GeneSense
HKIC has made investments in Ninenovo, Emaldo, and GeneSense as part of an effort to broaden Hong Kong's strategic portfolio. These three start-ups have established their offices in Hong Kong, taking advantage of the city's skilled workforce and research capabilities.
The Hong Kong Investment Corporation (HKIC) has pinpointed three sectors – biotechnology, renewable energy, and healthcare – for its forthcoming investments. This decision comes as the strategic fund manager, with a capital of HK$62 billion (US$8 billion), aims to broaden its portfolio and uphold its commitment to boosting the city's enduring economic competitiveness.
The CEO of government-owned investor HKIC, Clara Chan, announced at the first-ever Hong Kong Start-up Investment and Development Summit on Friday that they are collaborating with GeneSense, a gene-sequencing firm, Emaldo, a home power station producer, and Ninenovo, a wearable device creator, to grow these three start-ups in Hong Kong.
"Hong Kong possesses robust capabilities in the realm of scientific and technological innovation, which we intend to utilize completely," stated Ninenovo's co-founder and chief executive, Tony Wu. He further noted that the start-up has set up a branch in the city.
The firm that manufactures a $279 intelligent ring in Guangong for capturing, examining, and preserving sleep information, relocated to the Hong Kong Science Park in the previous month. The organization's staff is collaborating with the department of obstetrics and gynaecology at the Chinese University of Hong Kong to undertake studies on pregnancy management.
Wu mentioned that Ninenovo is planning to leverage Hong Kong's reputation as a global medical hub and seek a range of certifications.
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