Higher Education Innovations: Hong Kong, China; the Republic of Korea; and Indonesia

Universities and higher education institutions play a critical role not only in human capital development and nation building, but also in innovation systems. With the Fourth Industrial Revolution, there is more pressure on educational institutions to qui

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Higher Education Innovations: Hong Kong, China; the Republic of Korea; and Indonesia Gerard Postiglione

Higher education plays a critical role not only in human capital development and nation building, but also in innovation systems. A lot of countries have recognized the pivotal role of universities and higher education institutions in achieving a knowledge-based economy. Anticipating emerging opportunities brought by globalization and technological advancements, many universities all over the world scramble to produce competitive graduates that will be able to thrive both in the national and the global labor markets.

Issues and Challenges Rapid technological development brought about by the Fourth Industrial Revolution is changing the landscape of skills and employment around the world. This puts more pressure on educational institutions to quickly adapt and formulate innovative strategies to cope with disruptions and possible threats posed by these technological advancements. Further, with the rise of scientific breakthroughs and technological developments, it has been suggested that a country has at least one world-class research university to benefit from these developments.1 However, world-class universities have different emphases and approaches, as well as procedures and mechanisms. There is no universal ideal model or formula 1 ADB. 2014. Innovative Strategies in Higher Education for Accelerated Human Resource Development in South Asia. Asian Development Bank. Manila; Philip G. Altbach and Jamil Salmi. 2011. The Road to Academic Excellence: The Making of World-Class Research Universities. IBRD/World Bank. Washington DC.

G. Postiglione (B) Higher Education, The University of Hong Kong, Pok Fu Lam, Hong Kong, China e-mail: [email protected] © Asian Development Bank 2020 B. Panth and R. Maclean (eds.), Anticipating and Preparing for Emerging Skills and Jobs, Education in the Asia-Pacific Region: Issues, Concerns and Prospects 55, https://doi.org/10.1007/978-981-15-7018-6_19

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to achieve such status, given that successful universities and/or institutions developed under different contexts in which leaders and decision-makers took advantage of emerging opportunities. Simply copying models used in other countries may also be counterproductive and ineffective. Instead, experiences from countries with successful higher education institutions may provide lessons and partial instruction.2

Proposed Solutions To be more competitive and innovation-driven, high-quality universities need (i) competent faculty; (ii) good research, curricula, and pedagogy; (iii) good students; (iv) sufficient funding; and (v) adequate facilities.3 Developing countries particularly need to place high importance on building talent (whether from inside or outside of the country). Recruiting and retaining leading academics is a key catalyst. The internationalization of universities can help attract top-caliber faculty to diversify university capacity and contribute to institutional upgrading and the strengthenin