Hong Kong’s status as the world’s second-largest biotech funding hub was highlighted during an investment briefing in Washington DC on Friday.

Elania Luk, director of the Hong Kong Economic and Trade Office (HKETO) in Washington, DC, said Hong Kong is the world’s second biggest biotech fundraising center, after New York.

She said the special administrative region is home to five of the world's top 100 universities with a world-class research landscape supported by the Hong Kong Science Park and the Hetao Shenzhen-Hong Kong Science and Technology Innovation Co-operation Zone.

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The HKETO in Washington hosted the event to provide details on the latest opportunities in Hong Kong's life and health sciences industry and on leveraging its strength as a "super connector" as well as a global hub for converging talent, AI innovation and translational research.

Luk said during the briefing that city expects stronger growth in the life and science sector with the holistic support from the SAR government, a strong business and start-up presence, and its prominent status as international center for global finance and innovation and technology.

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Hong Kong is making significant strides in developing life and health technology across all stages of innovation, Luk said.

At the research and development level, efforts are being driven by the Life and Health Technology Research Institute and several R&D centers within the InnoHK research clusters, she said.

For transforming research into practical outcomes, the Research, Academic, and Industry Sectors One-plus Scheme has backed 15 projects. On the industry front, three major innovation and technology parks are home to nearly 500 related enterprises and organizations, fostering a dynamic and thriving ecosystem, she added.

Xie Yi, head of Business and Talent Attraction and Investment Promotion at Invest Hong Kong’s New York office, explained how their office offers tailored services to US companies looking to establish or grow their operations in Hong Kong and tap into regional markets.

She also shared success stories of life and health sciences companies that have used Hong Kong as a launchpad for their business development and expansion.

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The event, jointly organized by Invest Hong Kong (InvestHK) and the Hong Kong Trade Development Council (HKTDC) New York Office, was attended by members of the Washington Intergovernmental Professional Group and locals from various sectors, including life and health science professionals, federal and local government representatives of the United States, think tanks, businesses, and other private sector entities.

Contact the writer at irismuk@chinadailyhk.com