Technology Start-up Support Scheme for Universities (TSSSU)

Objective: TSSSU provides funding to six universities to support their teams in starting technology businesses and commercialising their research and development (R&D) results. In addition to the original component of the Scheme (TSSSU-O), an enhancement measure (TSSSU+) has been implemented starting 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.

Funding Details:

• Maximum funding support: an annual funding of up to $16 million (i.e. $8 million each for TSSSU-O and TSSSU+) is provided to each of the six universities. Each funded technology start-up may receive up to $1.5 million each year for no more than three years37 under TSSSU-O or TSSSU+ respectively.
• Scope of funding: essential items for setting up and operating the start-ups (e.g. furniture and equipment, legal and accounting services, rental of necessary and suitable premises, manpower, etc.), expenditure on R&D, promotion activities and marketing of their R&D deliverables, products or services.
• Provision of funding: funding is provided to the universities on a reimbursement basis after the close of each Government financial year. However, individual universities may, having regard to their needs, request advance payment of up to 50% of the approved funding amount.
  Intellectual property rights ownership: approved start-up and/or associated university.

Eligibility:
A technology start-up will be eligible to apply if –

• it is registered in Hong Kong under the Companies Ordinance for not more than two years (for TSSSU-O) or not more than seven years (for TSSSU+) as of the date of the application deadline;
• the team forming the start-up may have any mix of the following members of the relevant universities –

    1.undergraduates, postgraduates or alumni; and/or
    2.professor(s) or other faculty members serving as consultant(s) providing technical           expertise and direction of the R&D; and

• the amount of private investment it has secured during the recognised matching period is no less than the amount of funding it intends to apply for (for TSSSU+ applicants only).

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