Innovation for Hong Kong's Upward Social Mobility

58 136 Refer to the annual report of each institution 6.4.9 Government matching fund is not available every year. Table 6.3 shows the fundraising situation of universities in 2018 / 19 and 2019 / 20. Due to social unrest and the COVID-19 epidemic over the past two years, the donations received by universities in the two years were averaged. It is not difficult to see that if the government continues to provide matching fund, the situation will be similar to the past. Table 6.3 The Amount of Donations Received by Hong Kong’s Tertiary Institutions in 2018 / 19 and 2019 / 20 136 6.4.10 In this regard, we propose to activate the use of resources through policy adjustments, introduce “output thinking”, and divide the matching fund into two parts. Fifty percent of the funds should follow the current method and be matched according to the donations raised by universities to continue to promote the culture of social donation to education. The other 50% should be matched according to the financial income of universities’ technology transfer to promote the commercialization of scientific and technological achievements. This part of the matching fund should be further divided into two parts: half of which should be used as an angel fund to promote entrepreneurship and innovation activities of scholars and college students, the other half of which should be used by universities autonomously to strengthen incentives for universities to participate in the matching fund scheme. 2018/19 760,000,000 440,000,000 62,000,000 240,000,000 48,370,000 81,280,000 26,000,000 52,070,000 1,308,000,000 1,230,000,000 740,000,000 390,000,000 380,000,000 310,000,000 204,000,000 120,000,000 Average 1,034,000,000 835,000,000 401,000,000 315,000,000 214,185,000 195,640,000 115,000,000 86,035,000 Chinese University of Hong Kong University of Hong Kong Hong Kong University of Science and Technology Hong Kong Polytechnic University City University of Hong Kong Hong Kong Baptist University Lingnan University of Hong Kong Education University of Hong Kong 6 Develop Technology and Innovation Industries and Foster Upward Social Mobility