Innovation for Hong Kong's Upward Social Mobility

59 Figure 6.5 Distribution Method of University Matching Fund 6.4.11 The financial income derived from knowledge transfer mentioned here shall not only include the income from the transfer of intellectual property rights such as patents, but also the income of all contract research and consulting projects. In addition, in order to encourage universities to lean towards local companies in Hong Kong, the income from technology transfer to local companies can be multiplied in matching. For example, by transferring one HKD to a general enterprise, one HKD can be matched; by transferring one HKD to a local enterprise, three HKD can be matched. 6.4.12 We believe that the reformed matching fund will inevitably mobilize universities, especially those with a shorter history, to promote technology transfer and strengthen the enthusiasm of cooperation with the industry. In addition, angel funds will promote the enthusiasm of scholars and college students to innovate and start businesses. Among them, the better projects will be invested in by venture capital funds and become the new force of Hong Kong’s Type I technology and innovation industries. With this positive interaction, the ecological environment of Hong Kong’s technology and innovation will be greatly improved. More importantly, the government does not need to spend a penny more to well leverage the whole. 50% 50% 50% 50% Matching Fund Angel funding Match by funds obtained from knowledge transfer Promote the successful commercialization of technologies Match according to donations raised by universities 6 Develop Technology and Innovation Industries and Foster Upward Social Mobility