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Hong Kong had laid a firm foundation for developing biotechnology and nanotechnology in the years to come and the Government would continue its investments in both fostering stronger research and nurturing a thriving industry, Assistant Commissioner for Innovation and Technology, Mr Nicholas Chan said today (June 22).
Speaking at Sino-Italian TechX, an exchange forum between Italy and China on Biotechnology and Nanotechnology, Mr Chan said innovation and technology was among the six economic areas where Hong Kong enjoyed clear advantages for development as identified by Task Force on Economic Challenges.
Mr Chan said, "Hong Kong has built excellent upstream research in biotech and nanotechnology. Our universities count among the very best in Asia-Pacific region in teaching and research achievements. Our world-class achievements include the successful fabrication of the world's smallest single-walled 0.4nm carbon nanotubes. In the International HapMap Project, Hong Kong shares the responsibility with a Mainland team for mapping 2% of the human genome."
In addition to investing through academic channels, Mr Chan said the Hong Kong Government also promoted applied Research and Development (R&D) through funding schemes and a network of infrastructure support. The Innovation and Technology Fund was established in 1999 with an allocation of $5 billion, to support applied R&D projects that would enhance Hong Kong's international competitiveness.
"To date, the fund has supported about 1,400 projects with a total investment of about $4 billion, biotech and nanotech account for more than 12% of the funding. In the biotech area, projects that have been supported include those in bioinformatics, molecular diagnostics, drug and therapeutic discover and development, modernisation of traditional Chinese medicine, and biopharmaceutical manufacturing.
"In the nanotech area, projects that have been supported include those in nanomaterials, nanoelectronics, green nanotech, nanotech for textile and apparel applications, and nanotech for medical and healthcare applications," Mr Chan said.
Turning to infrastructure support, Mr Chan said the Science Park had a dedicated Bio-informatics Centre and two biotechnology laboratory buildings to provide shared facilities for biotechnology companies to facilitate their work. At present, there are more than 20 biotechnology-related tenants in the Science Park.
Mr Chan said it was estimated that Hong Kong had about 300 biotechnology-related companies, comprising mainly healthcare-related companies with businesses in pharmaceuticals, medicinal or healthcare products of traditional Chinese medicine, medical devices and diagnostics. Among them, about 70 companies are listed in the Hong Kong Stock Exchange and Growth Enterprise Market.
Mr Chan said, "We look forward to more joint research projects between Hong Kong, Italy and Mainland China. We also expect that such research opportunities will translate into exciting business opportunities for entrepreneurs to unleash the economic benefits of the research output for the public good."
"Coupled with the excellent infrastructures already built for international business and finance, our long tradition of rule of law, and robust intellectual property protection regime, Hong Kong is an ideal location for biotechnology and nanotechnology research organisations and companies to set up their operations to tap the opportunities in the region, to stay at the technology frontier and to secure their position in the marketplace," he said.
Ends/Monday, June 22, 2009
Issued at HKT 12:46
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