*Note: As ITC will seek the legislature’ support for continuing TSSSU in December 2016/early 2017, applicants for the 2017-18 financial year should note that the final funding requirements and related arrangements would be subjected to the final arrangement to be announced by ITC in due course.*
- The applicant technology start-up must be a company, regardless of size, registered under the Companies Ordinance for not more than two years as of the cut-off date: 28 February 2017 
- The team forming the technology start-up may have any mix of the following members of the University:
- professor(s) to serve as consultant(s), providing technical expertise and direction of the R&D work; and/or
- business savvy university alumni, giving business and management advice, etc.
- The Technology start-up must be owned at least 10% by a member of the University
 The two-year eligibility requirement does not apply to a technology start-up which is recommended for the TSSSU funding for the second or the third year.
2. Assessment Criteria:
In assessing an application, the selection panel will take into account, including but not limited to, the followings:
- Innovation and Technology Content of the Business
- Capability of the Technology Start-up and its Team Composition to Undertake the R&D Work and Manage the Company
- Commercial Viability and the Business and Technology Barrier
- Social and/or Community Impact of the Technology Start-up’s Business and R&D Work
- Business Plan Write-up / Completeness
3. Selection Process:
- Application submission on or before the deadline
Upon receiving the complete applications, the University will verify compliance with the eligibility requirements and shortlist the start-ups for selection panel interview
The shortlisted technology start-ups will be invited to give a presentation on their business plan, include their plan on the deployment of the funding if awarded, to the selection panel
Recommendations for start-ups will be made to ITC for final approval
Upon receiving ITC approval, the successfully recommended technology start-ups will be notified of the amount of funding support and the reimbursable period
A letter of agreement will be signed between the University designated unit and the approved technology start-ups after ITC notifies HKUST for the funding support.