Policy

"Not all the smart people work for you," writes Harry Chesbrough in an article on Open Innovation - namely, using external ideas and knowledge sources to advance a system, an organization or a process. Since the publishing of his book in 2003, it was only natural for Open Innovation to be adopted by most companies worldwide.

More than 30,000 venture firms were registered in South Korea in 2015, with $1.8 billion invested - these record numbers are not a mere coincidence, but a result of "Creative Economy" - a government policy implemented for the past four years and aiming to foster venture and startups at the Republic of Korea.

Entrepreneurs endowed with different skill levels decide on the execution of projects while internalizing the reputational effect that their decision may have. When deciding on the execution of a project, entrepreneurs evaluate the trade-off between the positive expected return from the currently available project, and the impact such an execution may have on the financing of future projects. The results of this research show that the benefits of supporting lower-risk/lower-gain projects extend beyond their direct contribution.

On April 22, 2016, "South China Morning Post", Hong-Kong's leading daily newspaper, has published an op-ed by Yesha Sivan, CIV Executive Director, discussing the paths Hong-Kong shall follow to transform yet again and remain a leading global city in the 21-st century. In his piece titled "Let's Design HK 3.0", Yesha discusses the importance of design and leadership in shaping the future of Hong-Kong.

China's institutional funds and government enterprises are leading recent investment rounds with multibillion investments. After years of relying on traditional and heavy manufacturing,  the Chinese government paved the way to entrepreneurship, establishing more than 1,500 accelerators and investing a staggering $339 billion in venture capital.