Background and Aim
As we see the booming trend in innovation and technology, HKPC has initiated a small scale survey on the sector. The survey aimed to understand the current difficulties faced, support needed and productivity situation of companies in Innovation and Technology Sector.
The definition of the survey respondent was that the company should be in the Innovation and Technology Sector, ie. have an aim of researching or developing innovation and technology-based products or services. In this first round of survey conducted from Aug to Oct 2016, there were 70 participants successfully interviewed through online and written survey.
The respondents came from 6 different business nature in innovation and technology, namely biomedical technology, electronics, green technology, information communications technology, material and precision engineering, and professional service. The average number of employee in HK was 79. 43% of respondents were established within 5 years ago.
Findings from the survey
1. The respondents faced challenges in shortage of talent in innovation and technology. The respondents mentioned the key difficulties faced by the sector. Top choices were selected as below:
- Hard to recruit industry related talents (61% of respondents)
- Lack of product and services promotion channel (46% of respondents)
2. The respondents hoped to obtain government sponsorship in business promotion, as well as talent training. The respondents mentioned the key support needed by the sector. Top choices were selected as below:
- Provide more selling platform, eg. local or overseas exhibition (49% of respondents)
- Sponsor companies to join business events (47% of respondents)
- Enhance the training of industry related talent (46% of respondents)
3. The respondents expected productivity of the innovation and technology sector to gradually increase in next year. The majority of respondents measured by company as revenue over expenditure. The higher percentage of revenue over expenditure, the more profitable and productive the company is.
- The respondents on average mentioned that the percentage of revenue over expenditure at 62.3% in FY 2015.
- The respondents on average expected the percentage to increase to 90.6% in FY 2016.
Building index in the future