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 2021-22 Government financial year.
TSSSU (2021/22) – CALL FOR APPLICATION
- 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 2021 
- There is a flexible approach for the teams that not able to register a limited company before the application deadline. The team can submit the application before the application deadline without forming a company. If the application is selected and recommended by HKUST, the team need to form a limited company before HKUST submit the application to ITC in Jan 2021.
- 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
 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: 28 October 2020
*Note: Applicants for the 2021-22 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.*