Kazakhstan, Hong Kong ‘can build biotech unicorns by linking talent and capital’

Kazakhstan and Hong Kong could collaborate to create biotech unicorns by combining Kazakhstan's skilled tech workforce with Hong Kong's global financial network, according to Huck-Hui Ng, dean of medicine at Nazarbayev University in Kazakhstan. Ng highlighted the country's growing biotech sector, which has already produced start-ups in AI and digital health.

Ng emphasized the potential for building a substantial ecosystem with appropriate policies and government backing. Ng stressed the importance of connecting entrepreneurs with capital, ideas, and government support across the two regions. Kazakhstan is striving to become a regional healthcare hub, having recently earned WHO certification for meeting global drug standards.

The country has also attracted foreign pharmaceutical investments and is implementing AI tools for improved diagnostics. The Kazakhstani tech sector already boasts Higgsfield AI, a valued US$1.3 billion AI video generation company. Hong Kong's experience in developing its biotech sector, which underscores the significance of university-level support, could serve as a model for Kazakhstan.

Fariza Zhorabek, a panellist and research scientist, emphasized the role of research funding, intellectual property management, and incubation programs in nurturing biotech start-ups. She also pointed out the potential for Kazakh companies to benefit from Hong Kong's "patient capital," experienced investors who understand the sector's long-term and high-risk nature.

The Hong Kong-Shenzhen Innovation and Technology Park in Lok Ma Chau Loop is fostering connections between Kazakhstani and Hong Kong technology firms, providing resources for product development and manufacturing. Chinese drug companies such as Sinopharm, Sinovac, and Kangtai Biological Technology have already invested in Kazakhstan, signifying a commitment to enhancing local drug production.