Establishment of a Corporate Innovation Index

On 26 April, 2021, The Chinese University of Hong Kong (CUHK) Business School announces the development of a Corporate Innovation Index (CII) that will serve as a management and assessment tool to cultivate an innovation culture and to enhance capabilities and achievements in technology adoption among large corporations and SMEs in Hong Kong.

Funded by Innovation and Technology Commission of the Hong Kong Government under the General Support Programme, CUHK Business School’s Asia-Pacific Institute of Business (APIB) will take charge of the CII project. It plans to establish a conceptual framework of corporate innovation that best fits the Hong Kong business community under the digital age, as well as to develop a set of measurement matrices. CUHK APIB will work together with The Hong Kong General Chamber of Commerce (HKGCC), the project’s strategic partner, to invite around 100 corporations and 200 SMEs from six categories – including trading, manufacturing, distribution, services, franchising and investment – for a survey. Online assessment tools, guidebooks and a series of seminars/workshops will also be available to help companies rev up their technology innovation. Details of the inaugural CII will be announced in the second quarter of 2022.

Dr. David Chung, the Under Secretary for Innovation and Technology of the Government of the Hong Kong SAR, said: “This research project, supported by Innovation and Technology Fund, dovetails well with the Government’s efforts to address the upcoming challenges facing the business community by means of a conceptual framework constructed from literature review, industrial consultations and communication forum. Other than the most commonly used measures of corporate innovation such as R&D expenditure, patent counts, patent citations and new product announcements, I am sure the Corporate Innovation Index will serve as a reliable tool for the public and business sectors to measure the innovation competence in a scientific and data-driven manner. I would like to thank the Chinese University and the Hong Kong General Chamber of Commerce for their devotion in making Hong Kong an innovative city.”

Prof. Waiman Cheung, Associate Dean (Graduate Studies) and Co-Executive Director of APIB at CUHK Business School, added: “In response to the Government’s call for developing Hong Kong into a knowledge-based economy and a regional innovation hub, CII will raise awareness about the applications of advanced technologies and foster an innovative mindset among corporations and SMEs in Hong Kong. Emerging technologies such as artificial intelligence, biomedical science, the Internet of Things (IoT) and 5G are changing the Hong Kong economy at warp speed and scale.”

Mr. George Leung, CEO of HKGCC, said: “Many companies are aware of the importance of innovation, which drives their competitiveness and ultimate success. However, knowing how to upgrade their capabilities or benchmarking their innovation until now has been very challenging. We hope that with the success of the Corporate Innovation Index, not just businesses, but the whole Hong Kong economy and society will be able to benefit and build from this index. This is precisely why we feel it is important to give it our utmost support.”

The Seminar

Many companies understand that innovation plays a crucial role in their growth — even their very survival.  Yet when it comes to implementing an innovation strategy, it is far easier said than done.  Throwing money into R&D and talent does not guarantee success or even recouping your investment.  Yet many start-ups appear to have endless innovation as passionate entrepreneurs develop new business models and technologies that threaten to disrupt traditional ways of doing business.  However, as up to 90% of all startups fail, innovation and passion are not always enough to guarantee success.

Successful business leaders weave their experience with start-ups’ innovation and passion to nurture new ventures and steer them away from potential pitfalls. Two entrepreneurial veterans, Dr. Toa Charm and Mr. Patrick Lee, who have decades of experience in corporate innovation and entrepreneurship, will share their hard-earned experience during this fireside chat on:

1. Why corporate innovation is so challenging?
2. What best practices can companies adopt to increase their chances of success when it comes to corporate innovation?
3. What can corporate leaders learn from tech start-ups and vice versa?

Fireside Chat Speakers

Prof Toa CHARM
Associate Professor of Practice in Management, CUHK Business School
Director of Business Development, The Asia-Pacific Institute of Business, CUHK
Former Senior Executive: Cyberport, HSBC, IBM & Oracle

Mr Patrick LEE
Vice Chairman, Industry & Technology Committee, The Hong Kong General Chamber of Commerce
Former Senior Executive: Inchcape, Intertek

Date & Time : 26 April, 2021 (Mon), 3 – 4:30pm
Venue : Live virtual (Zoom)
Language : English
Fee: Free Registration

Kick-Off Ceremony And Online Seminar Of Energizing The Hong Kong Economy With Innovation In The Digital Age Through The Establishment Of A Corporate Innovation Index

uest of Honour

Dr David CHUNG Wai-keung, JP
Under Secretary for Innovation and Technology, Innovation and Technology Bureau, HKSAR Government

Speakers

Prof Waiman CHEUNG
Associate Dean (Graduate Studies), CUHK Business School
Co-Executive Director, The Asia-Pacific Institute of Business, CUHK

Prof Michael ZHANG
Associate Dean (Innovation and Impact), CUHK Business School
Co-Executive Director, The Asia-Pacific Institute of Business, CUHK

Prof Toa CHARM
Associate Professor of Practice in Management, CUHK Business School
Director of Business Development, The Asia-Pacific Institute of Business, CUHK

Mr Patrick LEE
Vice Chairman, Industry & Technology Committee, The Hong Kong General Chamber of Commerce

Date & Time : 26 April, 2021 (Mon), 3 – 4:30pm
Venue : Live virtual (Zoom)
Language : English
Fee: Free Registration

Rundown