Although Hong Kong is one of the world’s most competitive economies, it needs to enhance its innovation capability to catch up with global peers. Our Hong Kong Foundation believes that science and technology innovation is a critical growth engine for Hong Kong’s economy in the future as well as an essential element to uphold its leading position in the world. Therefore, we have launched a new research report, titled “Unleash the Potential in Science and Technology Innovation: Develop Hong Kong into an International R&D Powerhouse”.

To unleash its full potential in science and technology innovation, Hong Kong needs to strengthen interdisciplinary and cross-institutional collaboration. As scientific developments and challenges are increasingly complex and multi-faced, tackling these emerging issues requires multilateral collaboration. To that end, this report puts forward the recommendation of establishing interdisciplinary and cross-institutional mega research institutes to attract top-notch international scientists to conduct large-scale, collaborative scientific research. Mega research institutes also provide local researchers with a promising career pathway, thereby promoting the development of the entire science and technology innovation ecosystem in Hong Kong. With a view to create the optimal conditions for mega research institutes to flourish, the report addresses three fundamental areas: funding, talent and collaboration. The recommendations aim to provide higher-level strategies, build the R&D talent pipeline and promote interdisciplinary and cross-institutional collaboration. We hope our report will complement the Government’s recent initiatives to accelerate Hong Kong’s science and technology innovation and develop Hong Kong into an international R&D powerhouse. With further enhancement in the local science and technology innovation ecosystem, Hong Kong definitely stands a strong chance to scale new heights and become a world’s leading innovative economy.