As a guide to its development, HKUST introduced the concept of high impact areas—areas of research and study with either high academic impact, or high social and economic impact, or both. High academic impact means that the work being done at HKUST is at the forefront of global research in the area, whereas areas with high social and economic impact will play a significant role in the development of Hong Kong as a world city with a knowledge-based economy. This concept has served the University well in selecting programs from a broad range of areas for achieving international competitiveness and local leadership, and will continue to guide the institution in the pursuit of excellence in the years ahead. However, the breadth of our success argues against trying to move all of these areas to the "next level" at the same time.

This next level of achievement will focus on a small number of areas capable of achieving genuine influence. This means that they will

• influence, rather than follow, scientific and technological trends;
• influence, rather than merely support, business practices and public policy; and
• train postgraduate students who will become influential members of the community.

These characteristics are all aspects of programs that will be influential, both locally and internationally, in terms of the work they do and the graduates they produce. To achieve this level of influence in the technology-based areas, HKUST will increase its percentage of research students to benchmark levels found in world class research institutions elsewhere. In providing leadership in these areas, HKUST will mobilize the available resources through wide-ranging cooperation and collaboration with industry and with both local and overseas academic institutions.