Technology Start-up Support Scheme for Universities (TSSSU)
TSSSU provides funding to six universities to support their teams in starting technology businesses and commercialising their research and development (R&D) results.
- Maximum funding support: an annual funding of up to $8 million 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 years.
- 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.
- Intellectual property rights ownership: approved start-up and/or associated university.