The Proof-of-Concept Fund (PCF) was first implemented at HKUST in 2009-2010, with the support of the Knowledge Transfer Fund provided by the University Grants Committee of Hong Kong government and HKUST R and D Corporation Ltd. It aims at providing gap funding to enable pre-commercialization development of promising, cutting-edge technologies emerging from the University’s research on a timely basis.
PCF assists researchers to demonstrate the industrial potential of their inventions through prototype development, laboratory-scale demonstration, specialist testing, application validation, and field studies. It helps to facilitate and foster the exchange of ideas between innovators at the University and industry, and to accelerate the technology transfer of the research outputs from the university to private sectors.
The number of PCF applications has been increasing every year. Being the first funding program of such nature at HKUST, PCF has been recognized by faculty members as an excellent means to enhance the culture of knowledge transfer in the University community and support their endeavors to turn research outputs into something that would truly benefit the society.
For the past six years from 2009 - 2015, 39 projects have received PCF for a total amount of HK$7,318,700. 33 PCF projects have been completed while 6 projects are in progress. Out of the 33 completed projects, 9 projects have led to technologies licenses while 27 projects received further funding for development or undergoing collaborations with external parties. The outputs from 2 projects have become the core technologies of winning business plans of the One Million Dollar Entrepreneurship Competition at HKUST.
For the list of the past PCF funded projects, please click here.
As PCF targets technologies that are likely to be licensed out to the industries, TTC welcome the expression of interests from industrial partners for early engagement in the process of technology commercialization.
PCF 2017 is now Open!