Hong Kong proves ideal base in Asia as Rainbow Genomics expands globally accredited medical services

Since Chief Executive John Lee’s 2023 Policy Address, which laid out plans to make Hong Kong an international health and medical innovation hub, the city has been taking steps to attract international medical and pharmaceutical companies to carry out research and development (R&D) and clinical trials.

These measures are already helping to build the sector’s capacity, recognition and status. Such success can be seen in the work of InvestHK – a government agency responsible for attracting foreign direct investment to the city. It offers assistance through free advice and tailor-made services, with broader government commitment to support the healthcare and health tech sectors to meet changing requirements and increasing demand for best-in-class diagnosis and treatment.

Therefore, when Rainbow Genomics was looking for a base in Asia to expand its internationally accredited medical products and services, Hong Kong stood out as the obvious choice.

The city offers numerous attractions and advantages, starting with its existing infrastructure, high business standards, pivotal location, and a talent pool of qualified professionals and researchers.

Hong Kong Trade Development Council figures show the total of new businesses in the city grew by 7 per cent last year, which represents more than 4,200 start-ups creating roughly 16,400 quality jobs. Much of this activity has been in the key areas of biotechnology, life sciences and artificial intelligence (AI), with relevant data showing that the local expenditure on R&D has almost doubled in absolute terms during the past decade.

Hong Kong is also home to notable universities and well-funded scientific research programmes, which can help to further the understanding and development of cutting-edge genome- and protein-based discoveries, leading to new methods for more personalised treatment of an increasing range of diseases.