CUHK
News Centre
CUHK Business School announces 2024 Corporate Innovation Index
The Asia-Pacific Institute of Business (APIB) at The Chinese University of Hong Kong (CUHK) announced the results of the Corporate Innovation Index (CII) 2024 (see attachment) at the Awards Presentation Ceremony and Forum today (9 December) at the University’s Cheng Yu Tung Building. The event celebrated the achievements of top performers in the second CII. The CII findings highlight the significance of cultivating an innovation-driven culture and accelerating digital transformation to enhance competitiveness and strengthen Hong Kong’s position as a leading regional innovation hub.
The CII is a project funded by the Innovation and Technology Commission of the Hong Kong Government and developed by APIB, the executive education arm of CUHK Business School. This year’s index recognised the achievements of Hong Kong enterprises in innovation leadership, business performance and business model enhancement. As far as sectors are concerned, financial services and fintech, healthcare and biotech, and information technology led the way. Despite economic challenges, top-performing companies demonstrated resilience in sustaining their innovation efforts. Evaluated separately for the first time, SMEs showed significant potential.
Professor Rocky S. Tuan, Vice-Chancellor and President of CUHK, said: “The CII reflects CUHK’s unwavering commitment to nurturing innovation across all sectors, particularly among SMEs, which play a vital role in Hong Kong’s rapidly evolving digital landscape. By recognising and honouring top-ranked companies, we aim to foster a culture of creativity and progress, while providing valuable insights to policymakers about the challenges and opportunities faced by businesses in our city.”
The Under Secretary for Innovation, Technology and Industry, Ms Lillian Cheong, said: “Innovation and technology (I&T) are pivotal drivers of Hong Kong’s high-quality economic development. The government’s commitment to further enhancing the I&T ecosystem and promoting new industrialisation efforts remains steadfast. The CII plays a crucial role in fostering business innovation across various sectors. It has established an exceptional platform for individuals and organisations seeking to lead innovation and transformation. This initiative facilitates a unique environment for exchange, fostering creativity, cultivating expertise in the application of technology and recognising the achievements of enterprises in their pursuit of excellence and innovation.”
Mr Patrick Yeung Wai-tim, Chief Executive Officer of the Hong Kong General Chamber of Commerce, said: “Innovation is the lifeblood of business success. The CII is not merely a metric of performance but a catalyst for growth, enhancing our business competitiveness and bolstering Hong Kong’s economy. More importantly, this initiative is about cultivating a vibrant culture of innovation among start-ups and SMEs in Hong Kong.”
Hon Duncan Chiu, Legislative Council Member (Technology and Innovation Constituency), said: “Since its launch in 2022 as Hong Kong’s first comprehensive corporate innovation management and assessment project, the CII has provided guidance for large enterprises while supporting SMEs in navigating the digital era. It has become a vital platform for industry-academia-research collaboration and technology adoption.”
Professor Hon William Wong Kam-fai, Legislative Council Member (Election Committee Constituency) and Associate Dean (External Affairs) of Faculty of Engineering at CUHK, said: “The CII quantifies companies’ innovative potential, reveals future opportunities and drives momentum for sustainable development, propelling Hong Kong’s competitiveness to new heights.”
Professor Cheung Waiman, Associate Dean (Graduate Studies) of CUHK Business School and Executive Director of APIB, said: “The second CII highlights how vital innovation is for Hong Kong’s economic transformation. Our research provides valuable insights that help improve innovation rankings and drive economic development.”
During the event, Professor Toa Charm Ka-ieong and Professor Dominic Chan Chi-bong from CUHK Business School led in-depth panel discussions on innovation trends, challenges and best practice with representatives from enterprises of various sizes. This provided valuable insights for the participants.
To support companies and enterprises in driving innovation, the CII has provided practical guidance and resources through initiatives such as training programmes, partnerships with academic experts and collaboration among industry, academia and the government. As Hong Kong’s first comprehensive corporate innovation index, the CII has established itself as an influential platform promoting corporate innovation management and assessment in the city, guiding and driving innovation development in the local business community.
Hon Professor William Wong Kam-fai, Legislative Council Member (Election Committee Constituency) and Associate Dean (External Affairs), Faculty of Engineering, CUHK, delivers a congratulatory speech.
Mr Patrick Yeung Wai-tim, Chief Executive Officer of the Hong Kong General Chamber of Commerce, delivers the opening remarks.
Professor Cheung Waiman, Associate Dean (Graduate Studies) of CUHK Business School and Executive Director of APIB, delivers a keynote speech.
Guests of honour, including Mr Lau Wai-ming (3rd from right), Assistant Commissioner for Innovation and Technology (Quality Services), Mr Patrick Yeung (4th from right), CEO of the Hong Kong General Chamber of Commerce and the Hon Professor William Wong Kam-fai(4th from left), Legislative Council Member (Election Committee Constituency) and Associate Dean (External Affairs), Faculty of Engineering, CUHK, joined by Professor Cheung Waiman (5th from left), Associate Dean and Executive Director of APIB, CUHK Business School and project sponsors, officiated at the CII Awards Presentation Ceremony.
