Innovation for Hong Kong's Upward Social Mobility

49 6.1 The Goal and Path of Hong Kong’s Development of Technology and Innovation 6.1.1 Since the handover of Hong Kong in 1997, the society has been paying attention to the development of technology and innovation. However, both the government and the industry have consistently adhered to “Input Thinking”. The focus of their attention is mainly on the input of resources, and it is not very clear what goals should be achieved in the development of technology and innovation industries. 6.1.2 This “Input Thinking” means that when promoting the development of innovation and technologies, attention is only paid to the input of financial resources, while the goals and effects of these financial resources is ignored. The dominant idea of this kind of thinking is that the more input, the more output, but practice has proved that this idea is not necessarily correct 123. 6.1.3 The social movement in Hong Kong in 2019 have drawn people’s attention to the young generation in Hong Kong, and whether the society has provided enough development space for the young generation has become a thought-provoking issue. In fact, the analysis on global millennials in Chapter 4 of this report shows that “youthquakes” and even quarter-life crisis are common challenges faced by young people in many countries and regions in the world, while Chapter 5 points out that the development of technology and innovation industries is one of the effective ways to solve the upward social mobility. Therefore, this report uses “Output Thinking” as the framework and sets the creation of development space and the promotion of upward social mobility for Hong Kong’s young people as the goal of developing technology and innovation industries, and then retroactively infers and reviews the corresponding technological industry development strategy on the basis of clear goals. 6 Develop Technology and Innovation Industries and Foster Upward Social Mobility 123 Xu, Y., and Yu, C. (2009) Innovated by Hong Kong, HKUST Business School: Hong Kong.