PHILADELPHIA -- The Hong Kong University of Science and Technology School of Engineering and the University of Pennsylvania School of Engineering and Applied Science will collaborate in their technology-management master programs.

A newly signed agreement provides for student and faculty exchanges.

"As the fastest growing economy in the world, China offers enormous opportunities and challenges for U.S. technology managers. Hong Kong plays an important role in China's economic development, and this alliance opens the door for Penn students with aspirations in China," said Lyle Ungar, director of Penn Engineering Executive Master in Technology Management Program, which is co-sponsored by Penn Wharton School.

"Our program and HKUST's will educate technology managers who can turn innovation into commercial success in the global marketplace," Eduardo Glandt, Penn Engineering dean, said.

"In curriculum and networking, the partnership with Penn will be an asset to HKUST technology-management education program," said Helen Shen, director of HKUST Master in Technology Management Program.

The MTM at HKUST and Penn's EMTM are firsts in Hong Kong and the U.S. Combining the study of emerging technologies with management principles, the programs are designed for technology professionals who are or will be in management positions requiring an understanding of business and technology.