Supporting Tech Start-ups – Technology Start-up Support Scheme for Universities

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Funding

  1. Each of six universities may receive up to HK$16 million a yearHK$8 million under the original scheme and HK$8 million under the extended scheme. Under each scheme a start-up may be funded for up to three years, at up to HK$1.5 million a year.
  1. Funding covers the essential costs of setting up and running a technology start-upitems such as furniture and equipment, legal and accounting services, rental of suitable premises and staff, plus R&D spending, publicity, and marketing of the R&D results, products or services.
  1. Grants are paid back after each government financial year endsThe grant is paid to the university. A university may ask the Innovation and Technology Commission to release up to 50% of the approved amount early.
  1. Intellectual property is owned by the funded start-up and/or the related university

Eligibility

Technology start-ups that meet the following may apply:

  1. A company incorporated in Hong Kong under the Companies Ordinance that, on the application deadline, is no more than two years old for the original scheme, or no more than seven years old for the extended scheme.
  1. A team setting up a technology start-up may be freely formed from the following people at the university:   

    a) undergraduates, postgraduates or alumni; and/or

    b) a professor or other staff member who advises, as a consultant, on technical knowledge and R&D direction; and

  1. Private investment received during the designated matching period is at least the grant applied for. This applies only to the extended scheme.

Application deadline

See each university’s website for details