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Recommendation 1.3B: Create Health/Medical; and Social Innovation/Venture industries
(InvestHK Industries, 2021; StartmeupHK Hong Kong’s Startup
gerontech-specific international
Ecosystem, 2021). However, there remain no dedicated efforts
import & export support structures for gerontech. Similarly, while InvestHK and StartmeupHK have
numerous global partnerships, there are not yet any gerontech-
One of the most persistent challenges within Hong Kong’s specific partners.
gerontech ecosystem is related to overseas product
localisation (Gap 14). Localisation is a challenge not only Yet, there are many gerontech-related international organisations,
because of Hong Kong’s comparatively small market; it is also as illustrated in Figure 13. We therefore recommend GT
because of Hong Kong’s particular cultural needs, such as a Platform to collaborate with InvestHK to create strategic
Cantonese language setting and extremely small living spaces, partnerships with these international organisations.
which make it very costly for overseas companies to localise We further recommend that GT Platform and InvestHK
products for Hong Kong (OHKF, 2017). Despite the Government collaborate to create a gerontech “Regulation & Localisation
having invested significant resources to attract overseas Consultancy”. This consultancy could provide services that help
gerontech suppliers through initiatives such as GIES, the care overseas companies and start-ups understand gerontech-related
food subsidy, and $1 billion I&T Fund, our survey indicated that standards, as well as ageing- and rehabilitation-related culture in
there has been virtually no improvement on this front (score Hong Kong. It could provide local gerontech companies and start-
0.00). More targeted efforts are therefore needed to further ups with referrals to relevant international partner organisations for
improve this area. gerontech standards, as well as ageing- and rehabilitation-related
cultures in other countries.
It is not that the Government does nothing to support foreign
companies and start-ups. InvestHK is the Government
Department of Foreign Direct Investment. Its aim is to attract
and retain foreign direct investment to Hong Kong by providing
free advice to support companies from planning stage to launch
of business in Hong Kong (InvestHK About, 2021). An initiative
within InvestHK is StartmeupHK, which specifically focuses on
helping overseas start-ups to set up or expand in Hong Kong
(StartmeupHK About, 2021). InvestHK and StartmeupHK both
cover industries affiliated to gerontech, such as Innovation &
Technology and Information & Communications Technology;

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