Innovation for Hong Kong's Upward Social Mobility

57 135 6.4.4 There is no doubt that if the Lok Ma Chau Loop can successfully attract R&D centers of large multinational companies to relocate, it will certainly promote the transfer of science and technology from major universities in Hong Kong. 6.4.5 Another aspect of promoting knowledge transfer in Hong Kong’s universities is to create a culture of knowledge transfer. The government’s matching fund may play an important role in this aspect. 6.4.6 At present, the Hong Kong government matches university self-raised funding. Depending on the amount of donated funding raised by the university, the government will match the same amount of funding. The purpose of matching fund is to promote a donation culture that supports education in society. This program has indeed played an important role in the past. A matching fund of hundreds of millions of HKD is allocated every year, which has greatly promoted the trend of donations from society to universities. 6.4.7 However, if we take a closer look at the direction of the matching fund, we will find that most of the funds have gone to the two universities with the longest history and the most alumni; and those universities with short history and insufficient alumni network cannot benefit similarly. To certain extent, the matching fund becomes a reward for history, rather than a reward for the university’s current contribution to the society. 6.4.8 Figure 6.4 shows the matching fund situation of Hong Kong’s tertiary institutions in 2005/06, 2006/07 and 2007/08. Figure 6.4 The Fund Matching Situation of Hong Kong’s Tertiary Institutions in 2005/06 to 2007/08 (HK$ million) 135 300 250 200 150 100 50 0 2005/06 2006/07 2007/09 Chinese University of Hong Kong City University of Hong Kong Hong Kong Baptist University Lingnan University of Hong Kong Hong Kong Institute of Education Hong Kong Polytechnic University Hong Kong University of Science and Technology University of Hong Kong 6 Develop Technology and Innovation Industries and Foster Upward Social Mobility