Incu-Bio is a 4-year program operated by HKSTP to nurture biomedical startups in Hong Kong Science Park. It is managed by the Biomedical Technology Cluster (BMT). Besides offering support on preparing business plans and connection with stakeholders including investments and regulatory agencies (such as those for pharmaceutical products) and fund-raising, the program offers financial support as well as provides communal equipment and co-working environment to incubatees.
- Financial Aid Package
- Co-working Environment
- Lab Support & Services
Financial Aid Package
HKSTP offers each company newly admitted into the Incu-Bio Program funding subsidy to a maximum of HK$4 million in total, upon achieving all mutually agreed milestones. Each admitted company can also apply for extra funding to support its regulatory-related activities.
Incubatees will be offered a co-working space at Hong Kong Science Park with preferential rental arrangements.
Our Co-working office
Lab Support & Services
We offer R&D equipment and software. Lab equipment can be rented on a project or hourly basis. The labs are staffed by professional scientists that are here to support you.
In addition to our in-house expertise, we also partner with leading tech industry giants to serve your R&D needs. (Click here to download Technology Support Centre Service Terms and Conditions)
Click here to take a look at what the Biomedical Technology Supporting Centre offers.
Mandatory criteria for applicants
- An applicant must be a Hong Kong registered biomedical technology startup company established within no more than 2 years on or before the date of application.
- The applicant must focus on diagnostic, therapeutic, medical device or other biomedical tech-related areas.
- There must be at least 2 full-time staff members in the company and all staff must be able to work in Hong Kong legally.
- At least 50% of the full-time staff must be engaged in R&D work and based in Hong Kong Science Park (HKSP).
- The founders of the startup company must hold at least 33% of the company shares at the time and during the application admission. The founders must be individual shareholders or non-operating holding companies. A full disclosure of the shareholders’ identities and holdings in the applying startup should be included in the application (up to the top level of the applying entity). Corporate shareholders should not be involved in R&D of the same or similar products/services.
- The applicant should own the intellectual property (IP) of the innovation. If the applicant were utilising IP from sources independent of the applicant in their product/service development for commercialisation purposes, the applicant should obtain a valid license from the appropriate IP owner for freedom to operate.
- The methodology/product/services to be developed by the applicant should not duplicate similar technology and applications. Otherwise, a clear list of improvements and explanation on why it would be necessary to be conducted again in the premises of Hong Kong Science Park should be provided for assessment.
- The applicant must be willing to comply with the following requirements throughout the incubation period once admitted into the Incu-Bio program:
i. No sales, marketing and retail activities are allowed within the space under the Incu-Bio license.
ii. The applicant’s co-working office and work bench setup at the co-working centre must be environmentally friendly (i.e. must not create smell, noise or other elements which may disturb others), should not handle hazardous materials (except in wet labs of Biotech SME Centre adhering to the HKSTP published safety standard and guidelines), and must be able to operate in an office building.
Qualitative Assessment Criteria for applicants
- Idea Novelty & Disruptiveness of Technology
- R&D Plan and Nature of the Work
- Developmental Stage
- Business Model Viability
- Team/Personnel Competence
- Financial Status
Applicants are required to provide the following materials and email to firstname.lastname@example.org
- The curriculum vitae of the R&D leader for the operation in Hong Kong Science Park
- Organisational chart for the operation in Hong Kong Science Park
- Business plan (including R&D and fundraising plan)
- A non-confidential presentation deck about the R&D plan
- Milestones for the coming 4 years (Click here to download the template)
- Supplementary information about technology competency, if any
iii. published scientific paper(s)
- The License Agreement for relevant patent(s) (If any patent of the technology to be used by the applicant is owned by any university or company, the applicant must obtain a relevant license agreement for that technology)
- Material handling and storage arrangement (Click here to download template)
- Emergency response plan (Click here to download the template)
- The latest copy of Business Registration Certificate
- The latest copy of Certificate of Incorporation
- The latest copy of Memorandum and Articles of Association
- Annual audited accounts/Bank account statement, if any
- Employment letters of your full-time staff (if founders are not the two full-time staff members) and MPF proof (if any)
- All application materials will be reviewed by the Incu-Bio and BMT team with relevant domain experts of HKSTP.
- If appropriate, the founding members and the CEO of the applying company will be invited to an admission panel meeting (APM). The admission panel, consisting of external reviewers and internal domain experts, will assess the application based on its business viability, technology, team competence, intellectual property (IP) ownership and/or licensing agreement and other relevant criteria.
The founding members and CEO of overseas applicants who would require a visa to enter Hong Kong may select to present to the APM through tele-conference or video-conference.
- The Admission Panel has the right to approve or reject applications and prescribe conditions for admission.
Milestone assessments are conducted at the end of the 3rd month after admission and every 6 months thereafter during the 4-year Incu-Bio Program. They will be mainly focused on the following areas but are not limited to:
- Technical progress
- Business progress
- Hiring and appointment
- Investment and funding
- Intellectual property (IP)
Incubatees are expected to pass every milestone assessments in order to stay in the program and continue to enjoy all program benefits.