Biotech is where the future of humanity is (almost literally) being made, and Hong Kong’s handful of researchers and entrepreneurs are starting to get global attention for their work. As the government prepares to double R&D expenditure, could a homegrown biotech business be on Hong Kong’s horizon?
Bankers, lawyers and doctors – these are the holy trinity of professions approved by Hong Kong’s Tiger Moms for their children. But they have something else in common. All are undergoing dramatic changes because of the expanding role of technology.
The city’s bankers might be wondering where their careers stand as fintech takes a firmer hold in their profession, and lawyers must be asking themselves what legal-tech will do to their chosen path.
For Hong Kong’s pool of students and researchers in the life sciences and medicine, however, the growth of a local biotechnology industry is very good news. Our cover personalities in this issue are all doctors with an interest in biotechnology, and all agree that the past five years has seen an uptick in interest among investors and businesspeople in the prospects for Hong Kong’s biotech sector.
The biotechnology business covers a wide spectrum of activity – from pharmaceuticals, radical stem cell therapies and diagnostic tools, to use of genomic data and medical devices. In Europe and the US, the key markets for biotechnology, overall revenues for listed companies rose from US$130 billion (HK $1.14 trillion) to $140 billion between 2015 and 2016, a growth of 7 percent, according to a 2017 report by consultancy EY. The report characterised this as disappointing, considering the double-digit growth of previous years. Employment among biotech companies climbed from 178,690 to 203,210, while expenditure on research and development rose 12 percent.
In the US, key cluster areas for biotechnology and innovation such as the San Francisco Bay Area, New England and San Diego, all far exceed China in terms of money raised, according to EY. That said, China is leading the charge for Asia in terms of developing home-grown biotechnologies that are the source of investment opportunities.
Denne historien er fra November 2017-utgaven av The PEAK Hong Kong.
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Denne historien er fra November 2017-utgaven av The PEAK Hong Kong.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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Supercar Condos
This new property project is set to be the perfect spot for elite supercar owners to store and show off their rides.
New Gear
Lamborghini unveils an upgraded supercar that boasts breathtaking performance with open-air driving thrills.
Aquatic Timekeeper
As a nod to the futuristic glass bathysphere from The Abyss, this timepiece raises the bar for horological aesthetics by marrying abstract visual concepts with mechanical wonders.
A New Way To Do Business
Attracting and retaining a creative workforce is a perpetual challenge. The answer may lie in B Corps, a certification process that’s focused on the societal impact a company has.
Circular Opportunities
Why Hong Kong companies should start turning their waste into a supply source.
The Game Changer
After years spent residing in Spain, Paris and the US, Northacre CEO Niccolò Barattieri di San Pietro now has his eyes set on London. The forward-thinking property giant is aiming to restore the former glory back into historical developments in the British capital.
The Quiet Giant
Dr Jonathan Choi wears a lot of hats and sobriquets as he heads up low profile conglomerate Sunwah Group. But with a rising tide of interest in ASEAN and a pending free trade deal, the quiet days may get a little noiser.
The Boutique Experience in Mexico City
When it comes to Latin America, Mexico is Hong Kong’s second-largest trading partner and the biggest buyer of Hong Kong exports.
Discovering the Dark Side
Following a growth in the number of protected 'dark sky places' and stargazing travel destinations, all of which offer visitors increasingly luxurious ways to gaze in awe at the night sky, there has never been a more exciting time for astrotourism.
The Sparkle Makeover
From cars to yachts, here's what one pioneering outfitter is doing to add bling to big ticket items.
