HKIC invests in Ninenovo, Emaldo, GeneSense to expand Hong Kong’s strategic portfolio

Hong Kong Investment Corporation (HKIC) has identified three projects in biotechnology, sustainable energy and health for investments, as the HK$62 billion (US$8 billion) strategic fund manager expands its portfolio to fulfil its mission to enhance the city’s long-term competitiveness.

HKIC is working with the gene-sequencing company GeneSense, home power station maker Emaldo and the wearable device developer Ninenovo to develop the three start-ups in Hong Kong, said the government-owned investor’s CEO Clara Chan, during the inaugural Hong Kong Start-up Investment and Development Summit on Friday.

“Hong Kong’s scientific and technological innovation capabilities are very strong, so we will play to this advantage fully,” said Ninenovo’s co-founder and CEO Tony Wu, adding that the start-up has established an office in the city.

The company, which produces a US$279 smart ring in Guangong for recording, analysing and storing sleep data, moved into the Hong Kong Science Park last month. The company’s team is working with the department of obstetrics and gynaecology at the Chinese University of Hong Kong to conduct research on the management of pregnancy.

Ninenovo is also hoping to tap on Hong Kong’s status as an international medical centre and apply for a series of accreditations, said Wu.