R&D tracking

When R&D commercialization is accelerated, hastening regional collaboration and overhauling the institutional framework, a comparative database detailing universities' activities in commercialization, industry collaboration, and local development is essential to provide measurable indicators of technology commercialization.

"There should be a comprehensive innovation policy in the first place to include specific kinds of measurement. There must be a portfolio of measurable outcomes, such as investment value, job creation and output generation, instead of just patent filings and academic papers. There should also be flexibility when applying the key performance indicators (KPIs) since different R&D stages require different measurements," Tang tells China Daily.

Lawmaker Chiu says the KPI principle should be based on the whole Greater Bay Area region. "The measurement should track I&T achievement for the whole Greater Bay Area region in a long-term span of five to 10 years. KPIs focusing on short time-spans and confined only to Hong Kong are not a useful framework for measurement," Chui says.

OHKF's Shui recommends that the University Grants Committee in Hong Kong reference the Higher Education Statistics Agency and Knowledge Exchange Framework in the United Kingdom, as well as the QS Stars University Ratings, to fill the gaps of knowledge transfer KPIs in its university accountability agreements signed with UGC-funded universities.

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