Gulf Countries and Biotechnology: Hong Kong Start-ups at the Future Investment Initiative in Riyadh
Exploring Opportunities in Gulf Countries
This week, the Hong Kong Science and Technology Parks Corporation (HKSTP) is launching its most significant overseas initiative, bringing 25 start-ups to Saudi Arabia for the Future Investment Initiative (FII) in Riyadh. These emerging companies are not mere participants; they are at the forefront of sectors like biotechnology, green technology, and innovative solutions designed to meet local demands.
Key Insights from HKSTP Leadership
According to the CEO, Albert Wong Hak-keung, the Gulf countries present a goldmine for start-ups focusing on green solutions and biotechnology. He emphasized, “The Middle East holds immense potential for innovation, and these Hong Kong start-ups can significantly contribute to Saudi Arabia’s Vision 2030 Initiative, which aims to diversify its economy away from oil.”
Spotlight on Promising Technologies
- AusMed Global showcases a non-invasive medical device aimed at monitoring diabetes by breath analysis.
- Volar Air Mobility aims to introduce electric aviation solutions to fulfill the increasing demand in the region.
Wong indicated that the FII forum is a chance to connect with local partners and attract investors. Notable speakers include Carlson Tong Ka-shing, chairman of HKEX, and several government officials.
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On another note, the event will feature the launch of the Albilad CSOP MSCI Hong Kong China Equity ETF, the first of its kind on the Saudi Stock Exchange, further illustrating the collaboration between Hong Kong and Saudi Arabia in the financial markets.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.