1. 1 Postgraduate Research Expo 2002 – New Research Era Importance and Position of Research in Hong Kong December 4, 2002 Stephen Y. L. Cheung Faculty of Business City University of Hong Kong

2. 2 Sustainable Economic Development Investment Right People

3. 3 Sustainable Economic Development Investment ( 財 ) Right People ( 才 )

4. 4 International Evidence on R&D Expenditure Total R&D Expenditure Source: OECD, MSTI.

5. 5 Government Expenditure Source: OECD, MSTI. International Evidence on R&D Expenditure

6. 6 Private Expenditure Source: OECD, MSTI. International Evidence on R&D Expenditure

7. 7 What are Universities Looking for? Cooperation with private sector Private sector as free-rider What we learn from it? Financial implication

8. 8 What are Private Companies Looking for? Cheaper cost Increasing capacity

9. 9 How to Work Together? Socialize graduate students to the corporate world Establish trust between University and Industry Intellectual property issue Mediation devices

10. 10 Policy Options Tax incentives Protection of intellectual property right A happy marriage between universities and private companies China?