Technology Start-up Support Scheme for Universities (TSSSU) INTRODUCTION 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 2022-23 Government financial year. TSSSU (2022/23) – 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 2022 [1] 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 2022. 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) or teaching / research staff 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: 27 October 2021 *Note: Applicants for the 2022-23 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 2022/23 2. Application Package - Annex A 3. CV Template - Annex A(i) Applicants should complete the Application Package - Annex A, and submit together with the required documents, on or before the application deadline: Softcopy to: tsssu@ust.hk ENQUIRIES Mr. Nathan NG, Office of Knowledge Transfer Email ttnathan@ust.hk Telephone (852) 2358 5829 Fax (852) 2358 1493 _ INTRODUCTIONTSSSU (2021/22) – CALL FOR APPLICATIONIMPORTANT DOCUMENTSENQUIRIES