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The Chinese University of Hong Kong (CUHK) Business School today 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 HKSAR 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 HKSAR Government, 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.” 

Please visit https://bit.ly/2QSYh3v to read the press release on the CUHK Business School website.

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About CUHK Business School

CUHK Business School comprises two schools – Accountancy and Hotel and Tourism Management – and four departments – Decision Sciences and Managerial Economics, Finance, Management and Marketing. Established in Hong Kong in 1963, it is the first business school to offer BBA, MBA and Executive MBA programmes in the region. Today, CUHK Business School offers 10 undergraduate programmes and 18 graduate programmes including MBA, EMBA, Master, MSc, MPhil and Ph.D. The School currently has more than 4,800 undergraduate and postgraduate students from 20+ countries/regions.

In the Financial Times Executive MBA ranking 2020, CUHK EMBA is ranked 15^th in the world. In FT‘s 2021 Global MBA Ranking, CUHK MBA is ranked 48^th. CUHK Business School has the largest number of business alumni (40,000+) among universities/business schools in Hong Kong – many of whom are key business leaders.

More information is available at www.bschool.cuhk.edu.hk or by connecting with CUHK Business School on:

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About CUHK APIB

The Asia-Pacific Institute of Business (APIB) is the executive education arm of CUHK Business School. For the past three decades, APIB has been providing the Hong Kong and Asian business communities with unique learning programmes. Such programmes have been designed for senior executives who will benefit from the School’s cutting edge research and pragmatic applications.

With over 100 full-time staff in its faculty, CUHK Business School’s research efforts have made it a leader in knowledge creation in many critical areas of current interest to the business. Committed to educate and serve, APIB applies important business theory to management practices in the Asian context.

To complement its capability for knowledge transfer, APIB proudly counts on its resource pool of over 50 management practitioners – current and ex-business leaders – whose insights are based on experience from the business world. This ensures that a good blend of theory and practice characterises all APIB’s offerings.