TECHNOLOGY START-UP SUPPORT SCHEME FOR UNIVERSITIES (TSSSU)
In 2014/15, a new Technology Start-up Support Scheme for Universities (TSSSU), under the Innovation and Technology Fund (ITF) was launched by the Innovation and Technology Commission (ITC), with the below objectives:
  • to encourage our students and faculties to start up technology businesses and commercialise their research and development (R&D) results
  • to provide better support for technology start-ups to translate new ideas into business opportunities
ITC will provide an annual funding of up to HK$4 million to each university on a reimbursement basis for expenses incurred by the University recommended technology start-ups during the 2017-18 Government financial year.
 
*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.*
 
TSSSU (2017/18) – CALL FOR APPLICATION
 
1.    Eligibility:
  • 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 [1]
  • The team forming the technology start-up may have any mix of the following members of the University:
    • undergraduates/graduates/postgraduates;
    • 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

               [1] 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. 
 
APPLICATION DEADLINE: 30 December 2016
 
IMPORTANT DOCUMENTS:

1.    Operation Plan of TSSSU 2017/18
2.    Application Package - Annex A
3.    Application Package - Annex A(i)
4.    Reimbursement Request - Annex B
5.    Notes for Auditors - Annex C
6.    Specimen Auditors Report amd Statement of Expenditure - Annex C(i)
7.    Assessment of Technology Start-up - Annex D(ii)
8.    Request for Material Modifications to TSSSU Budget - Annex E
9.    Half-yearly/ Annual Report - Annex F
10.  TSSSU Application and Reimbursement Guidelines

Applicants should complete the Application Package - Annex A and Annex A(i), and submit together with the required documents, on or before the application deadline:
Softcopy totsssu@ust.hk; and
Signed Hardcopy to: Room 3628, 3/F, Lifts 29-30, Technology Transfer Center
                                                  
 
*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.*
 
ENQUIRIES
Mr. Brian SZE, Technology Transfer Center
Email
Telephone
(852) 2358 7913
Fax
(852) 2358 1493

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