FOR HKUST MEMBER

TSSSU

 

Introduction
Call for Application – TSSSU (2025/26)
2025/26 info Session *Register NOW*
Important Documents
TSSSU Awardees
Enquiries

Introduction

In 2014-15, the Innovation and Technology Commission (“ITC”) set up, under the Innovation and Technology Fund (“ITF”), the Technology Start-up Support Scheme for Universities (“TSSSU”), 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 ("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 start-ups. To further strengthen the support for start-ups, in addition to the original component of the Scheme (which will be termed “TSSSU O” hereafter), an enhancement measure will be introduced with effect from 2023-24 to provide dollar-to-dollar matching funds to those start-ups which have demonstrated good growth potential through securing investment from private sector (which will be termed “TSSSU+” hereafter). In other words, TSSSU will comprise TSSSU O and TSSSU+ starting from 2023-24, the annual funding of up to HK$16 million is provided to the University. An overview is illustrated below for reference.

 

 

[1]  Private investment should come from independent third parties including venture capitalists, angel funds, private companies or individuals in the form of cash contribution received during the reimbursement period in return of shareholding in the start-ups. Please refer to the FAQs for further details on the eligibility and calculation of private investment.

[2]  The recognised matching period refers to the Government financial year immediately before the TSSSU+ reimbursement period. For example, for start-up which would like to have its expenses in 2025-26 be funded under TSSSU+, the recognised matching period for receiving private investment should be the 2024-25 financial year (i.e. 1 April 2024 to 31 March 2025). Start-ups and investors should avoid arranging injections of the private investments at the last minute of the required timeframe, so as to allow greater flexibility and maneuverability in the event of unforeseen circumstances.

[3]  If a funded start-up has made reasonable progress in its R&D and/or business performance, the University may recommend such start-up for continued funding for the second or the third year. The three-year period should count consecutively from the first year that a start-up is approved for TSSSU-O or TSSSU+ funding. If a start-up is first approved for funding in 2024-25 (Year One) and only applies for continued funding in 2026-27 (Year Three), it will not be eligible for seeking further funding in 2027-28 (Year Four). 

 

Call for Application - TSSSU (2025/26)

1.    Eligibility:

  • The applicant technology start-up must be a company, regardless of size, registered under the Companies Ordinance. Details of the eligibility under TSSSU-O and TSSSU+ are as follows –

 

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: 5:00 pm (Hong Kong Time) of 7 November 2024 (Thursday)

*Note: Applicants for the 2025-26 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.*

Information Session

Interested applicants are highly recommended to sign up for the information session to understand more about TSSSU 2025/26, details are as follows.

Date: 3 October 2024 (Thurs)

Time: 2:00-3:00pm

Venue: 1/F The Base, Academic Building (lift 29-30)

Registration Link: Click HERE

Important Documents

1.    Operation Plan of TSSSU 2025/26
2.    Application Package - Annex A
3.    CV Template - Annex A(i)
4.    Business Model Canvas - Annex A (iii)

5.    Midterm/ Annual Report - Annex H
6.    Frequently asked questions
 

Applicants should complete the Application Package - Annex A, and submit together with the required documents, on or before the application deadline: Applicants should complete the Application Package - Annex A, CV Template - Annex A (ii), Business Model Canvas - Annex A (iii), and submit together with the required documents, on or before the application deadline.

 

Softcopy to: tsssu@ust.hk

TSSSU Awardees

Please click HERE.

 

Enquiries

Please send your questions to:

Office of Knowledge Transfer

The Hong Kong University of Science and Technology

email: tsssu@ust.hk