LSN Heading to Hong Kong & Singapore: Rising Healthcare and Life Science Hotspots in Asia

By Joey Wong, Investor Research Analyst, Hong Kong BD, LSN

The LSN team will be collaborating with Hong Kong Science and Technology Park (HKSTP) on October 19-20 and Life Science Incubator (Singapore) on October 29 to deliver the LSN Entrepreneurial Education boot camp to fundraising CEOs and scientist-entrepreneurs, aiming to help kick start their fundraising campaign and business developments on a truly global scale, and enhance LSN’s presence in the Asia Pacific region.

In recent years, the global healthcare and life science industries have undergone a remarkable transformation, characterized by increased capital inflow, soaring investment activities and groundbreaking innovations. Asia emerged as the epicenter of this moving landscape and Hong Kong and Singapore have solidified their positions as innovation hubs that offered unique advantages for fostering life science and healthcare innovation ecosystems. Their strategic locations, favorable government policies & promotions, and robust infrastructures make them the preferred destinations for early-stage life science and healthcare innovators who are looking to make an impact in one of the largest and most rapidly evolving life science markets, the Asia Pacific region, estimated to be USD 7.21 billion as of 2023.

Here are some recent highlights on Hong Kong and Singapore’s innovation ecosystems:

Geographic Advantage: Collaboration with China’s GBA

The strategic geographical location of both Hong Kong and Singapore are an invaluable asset for their life science and healthcare innovation ecosystem. Hong Kong, located on the southern coast of Mainland China, is a bridge to the Guangdong-Hong Kong-Macao Great Bay Area (GBA), which comprises several fastest-developed, major cities of Mainland China. Notably, there has been a surge in collaborations aimed at promoting tech and life science innovations between the governments, with a new science park established on the Hong Kong-ShenZhen border. In 2023, special measures were placed for medical devices and drugs that were approved in Hong Kong. This geographic position presents unparalleled opportunities for cross-border collations and access to the vast Chinese market.

R&D Powerhouse and Elite Research Facilities

Both Hong Kong and Singapore have made substantial efforts in fostering a conducive environment for research and development. With over 50 national and international research facilities, state-of-the-art laboratories and top-ranked universities, there is no lack of scientific talent and research capacities in HK and Singapore.

From 2021-2023, both Hong Kong and Singapore have set up partnerships with leading global pharmaceutical companies, such as Johnson & Johnson, Roche and AstraZeneca, to promote healthcare innovations and co-incubate early-stage projects.

Government Supports

In addition to research facilities, the government policies in both regions are designed to promote life science and healthcare innovations. These include grants, tax incentives and various financial support schemes. Prominent government initiatives such as Singapore’s Agency for Science, Technology, and Research (A*STAR) and Hong Kong’s Research Grants Council (RGC) actively support scientific research and innovation.

LSN believes a global ecosystem with strong interconnections and cross border collaborations will benefit both investors and entrepreneurs from around the globe, driving healthcare and life science forward with quality projects being properly funded despite their locations. Below are information and registration links for the two Boot Camps. I hope you can join us and we look forward to meeting healthcare & life science innovators in Hong Kong and Singapore.