By D. Fuller
Hong Kong's laissez-faire culture has crippled makes an attempt to transform it right into a extra knowledge-intensive financial system and it is a lesson with large applicability. Many rising economies face innovation bottlenecks, yet even some more complicated economies face comparable constraints and should enjoy the classes of its unfavourable instance.
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Extra info for Innovation Policy and the Limits of Laissez-faire: Hong Kong's Policy in Comparative Perspective
In the United States, a number of patent aggregators have behaved as “patent trolls,” seeking to develop a position that blocks other firms from pursuing innovations in a given field and litigating aggressively. ”25 Licensing to aggregators may produce near-term income, but could reduce the possibilities for using patent licenses as an instrument to obtain research funding from industry, especially if potential research sponsors view aggregators holding licenses from these universities as a threat to their business operations.
4. Assessment The contrasting evolution of the “entrepreneurship” and technologytransfer policies of these five leading Hong Kong universities is striking. Three of the universities (City University, HKU, and Polytechnic University) have substantially reduced their institutional support for faculty entrepreneurship (including incubators), while HKUST has expanded its efforts in this area and CUHK’s formal institutional support for facultyfounded spin-off firms has been more limited. One reason for reductions in support for faculty-founded firms is the modest success enjoyed by Hong Kong university spin-off firms, only three of which (EcoTek, Tele Eye, and Vertex) have been listed on the Hong Kong Growth Enterprise Market.
This principle should apply irrespective of whether the David C. Mowery 14. 15. 16. 17. 18. 19. 20. hk/eng/Forms/itf-uicp-guide. pdf (pp. 26–27); accessed 30 October 2008). StatTypeId=101& StatId = 516 & StatCaption = Statistics + of + Approved + Projects; accessed 27 October 2008. htm; accessed 25 August 2008. htm; accessed 29 September 2008. As I noted earlier, HKUST administrators reported that industrial sources accounted for 15 percent of the university’s research budget, more than three times the share observed at either Stanford University or UC Berkeley.