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entrepreneurs. To have research-driven gerontech innovation, Recommendation 5.2A: Provide
skilled human capital needs to go into gerontech. But this human
better terms and conditions
capital is currently stifled by institutional rules in academia. As
previously pointed out, our survey results found that systemic for researchers seeking
issues with academia, particularly a lack of incentive among
commercialisation
researchers to pursue research with social and economic
impact, is a gap that has worsened overtime (score -0.05).
In the commercialisation process, owning a patent is a form of
intellectual property (IP) protection that gives its owner the right
As detailed in OHKF’s report Building the Technology Bridge
to exclude others from making, using, selling, or importing the
for Scientific Breakthroughs: Developing an Innovation Hub of
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invention or know-how in a particular jurisdiction. The patent
the Future, knowledge transfer remains largely absent among
must then be licensed or sold to an existing company or a spin-off
our universities due to a lack of transforming basic research
company for the patented knowledge to generate an impact in
in universities into innovative products in society (OHKF,
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society. As creating a spin-off company requires the researchers
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2020). Therefore, this section will focus on reviewing policies
to possess entrepreneurial skills, it can serve as a proxy for a
related to the commercialisation of university-based research
university’s ability to promote and nurture entrepreneurial talents
and innovation. Solving such incentive problems is important
(OHKF, 2020). In general, Hong Kong trails behind in providing
to gerontech innovation as flexible policies for researchers
entrepreneurial support. In particular, the terms and conditions
encourages all forms of technology innovation.
offered by universities in Hong Kong for researchers seeking
commercialisation remains very unattractive, therefore
deterring researchers from translating their research into
real-life impact.

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Knowledge transfer is defined as “the systems and processes by which knowledge, including technology, know-how, expertise and skills are transferred between higher education
institutions and society, leading to innovative, profitable or economic or social improvements” and has been recognised as the third mission of universities, after teaching and research
(University Grants Committee (UGC), 2021).
Owning a patent also allows the inventor to further modify the technology when market conditions change.
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62 Licensing is any payment made to an IP holder for the right to use the IP. The distribution of revenue can depend on whether the university or the inventor pays the cost for the patent
filing. Spin-offs are companies that utilise technologies discovered in the university.
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