Strengths and weaknesses of Hong Kong's technology and innovation industry with reference to the extended open innovation model

Abstract

Purpose – This study aims to provide an analysis of Hong Kong's strengths and weaknesses in developing its technology and innovation industry. Design/methodology/approach – It briefly discussed the “extended open innovation” model on the basis of Chesbrough's “open innovation” model to explicitly highlight the elements associated with different stages throughout the whole spectrum of innovation processes. Findings – The model is then illustrated with Hong Kong's unique experience to gain insights for various stakeholders on how open innovation could be used beyond research and development activities and how Hong Kong could benefit from this paradigm shift. Originality/value – The extended open innovation model can be used as a framework to address the development of the technology and innovation industry.