TECHNOLOGY START-UP SUPPORT SCHEME FOR UNIVERSITIES
TSSSU 2020/21

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$8 million to each university on a reimbursement basis for expenses incurred by the University recommended technology start-ups during the 2020-21 Government financial year.

TSSSU (2020/21) – 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: 01 February 2020 [1]
  • The team forming the technology start-up may have any mix of the following members of the University –
    • Undergraduates, postgraduates or alumni; and/or
    • professor(s) to serve as consultant(s), providing technical expertise and direction of the R&D.
  • The Technology start-up must be owned at least 10% by the member of the University

               [1] The two-year eligibility requirement does not apply to a technology start-up which has been 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 following criteria:

  • 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 package submission (Annex A and related supporting documents) 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: 08 November 2019


*Note: Applicants for the 2020-21 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.*

IMPORTANT DOCUMENTS

1.    Operation Plan of TSSSU 2020/21
2.    Application Package - Annex A

Applicants should complete the Application Package - Annex A, and submit together with the required documents, on or before the application deadline:
Softcopy totsssu@ust.hk
                                                  
 
 
ENQUIRIES
Mr. Brian SZE, Technology Transfer Center
Email
Telephone
(852) 2358 7913
Fax
(852) 2358 1493

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