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echnology Start-up Support Scheme for Universities (TSSSU) 2018/19

Technology Start-up Support Scheme for Universities (TSSSU) 2018/19

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 2018-19 Government financial year.

TSSSU (2018/19) – 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 2018 [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 a 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 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: 8 December 2017

 

IMPORTANT DOCUMENTS:

  1. Operation Plan of TSSSU 2018/19
  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 (Midterm) - Annex D(ii)
  8. Assessment of Technology Start-up (Annual) - Annex D(ii)
  9. Request for Material Modifications to TSSSU Budget - Annex E
  10. Half-yearly/ Annual Report - Annex F

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

 

*NEW*

THE HKUST ENTREPRENEURSHIP PROGRAM

For any applicants interested in applying an incubation space in HKUST, welcome to join the HKUST Entrepreneurship Program. Please indicate your interests in the Application Package Annex A(i). For details of the HKUST Entrepreneurship Program, please visit: http://rdc.ust.hk/ep.html

 

Enquiries

Mr. Brian SZE, Technology Transfer Center
tsssu@ust.hk
Telephone (852) 2358 7913
Fax            (852) 2358 1493

 

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