The Hong Kong Investment Cooperation (HKIC) signed here Monday a strategic cooperation agreement with BioMap, a company that offers AI models for the life sciences industry.

The agreement was signed at the inaugural International Bio-Computing Innovation Summit which was held on the same day in Hong Kong.

Financial Secretary of the Hong Kong Special Administrative Region government Paul Chan said at the signing ceremony that Hong Kong has solid foundation in artificial intelligence and life science, and he believed that Hong Kong should endeavor to accelerate the development of bio-computing to seize the “first mover advantage.”

Chief Executive Officer of the HKIC Clara Chan said that she looked forward to the cooperation between BioMap and the HKIC in different areas to explore expanding the scope of application of BioMap’s platform technology from medicine and health to green technology, industrial innovation and other fields.

The International Bio-Computing Innovation Summit brought together speakers from around the world to discuss bio-computing and future applications, including accelerating new drug discovery, improving human health, and promoting green technology innovation for global sustainable development.

The establishment of the HKIC was proposed by the HKSAR’s chief executive John Lee in his policy address in 2022, with the aim to further optimize the use of fiscal reserves for promoting the development of industries and the economy.