Front row from left: Mary C. Boyce, Dean of Engineering at The Fu Foundation School of Engineering and Applied Science at Columbia University; John H. Coatsworth, Provost of Columbia University; and Xiang Bing, Founding Dean of CKGSB; pose for photo after signing the Memorandum of Understanding to establish a partnership. PROVIDED TO CHINA DAILY

The growing role of technology and innovation in economic growth is bringing engineering and business ever closer together.

A renowned business school in Beijing and an Ivy League engineering school in New York have joined hands with the goal of educating a new type of talent that knows the latest technologies and business operations and can penetrate the world's two largest economies.

The deans of the Cheung Kong Graduate School of Business (CKGSB) and the Columbia University School of Engineering and Applied Science announced the launch of the Cheung Kong Innovation Institute on Wednesday at Columbia University in New York.

Both institutions said the partnership will contribute to their diversity.

"We want to look at how do we forge a more global perspective, and how do we bring technology and innovation together with management and catapult new businesses," said Mary Boyce, dean of engineering at The Fu Foundation School of Engineering and Applied Science.

"From day one, we wanted to be a true innovator. Today, there are so many technology disruptions, and I think as a business school, we need to be more holistic," said Dr. Xiang Bing, founding dean and a professor of China business and globalization at CKGSB.

The deans said they were talking about creating a dual-degree program in which a student will split study between the US and China, between business and engineering, and graduate with two degrees from the two schools.

David Yao, professor of industrial engineering and operations research at Columbia, first came up with the idea because many entrepreneurs and venture capitalists, who are potential employers of the school's future graduates, told him that they were looking for a new kind of talent.

"A talent not to found new startup companies, but rather to help them run new startups and make their startups successful," Yao said.

"The new talent needs skill sets different from traditional MBAs. I see a need to have a combination between an engineering school and business school. It also allows business schools to think in a very disruptive way to examine their traditional curriculum," he said.

The new institute will also create a platform for research collaboration between the two countries.

Xiang pointed out that China has grown from "imitation" to "innovation", and some of the newest technologies are now in China.

"We think this program will attract both American students and Chinese students," Boyce said.

"And global ones," added Xiang.

hezijiang@chinadailyusa.com