Technology Start-up Support Scheme for Universities (TSSSU)
Launched in 2014, TSSSU provides funding to six universities8 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+) 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.
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 deadline9;
- the team forming the start-up may have any mix of the following members of the relevant universities –
- undergraduates, postgraduates or alumni; and/or
- professor(s) or other faculty members serving as consultant(s) providing technical expertise and direction of the R&D; and
- the amount of private investment20 it has secured during the recognized matching period21 is no less than the amount of funding it intends to apply for (for TSSSU+ applicants only).
- 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 years22 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.
Technology start-ups interested in TSSSU should submit their applications to the knowledge transfer office/technology transfer office/entrepreneurial centre of their associated universities. The six universities have prescribed their respective application forms and guidelines on the handling of TSSSU applications. For details, please refer to their websites –
|City University of Hong Kong||https://www.cityu.edu.hk/kto/cityuers/funding/technology-start-support-scheme-universities-tsssu|
|Hong Kong Baptist University||http://kto.hkbu.edu.hk/eng/tsssu|
|The Chinese University of Hong Kong||https://www.orkts.cuhk.edu.hk/en/knowledge-transfer/tsssu-fund|
|The Hong Kong Polytechnic University||https://www.polyu.edu.hk/kteo/polyventures/funding_investment/polyventures-angel-fund-scheme/|
|The Hong Kong University of Science and Technology||https://okt.hkust.edu.hk/tsssu|
|The University of Hong Kong||http://www.tto.hku.hk/public/tsssu/index.html|
Applications assessed and recommended by the selection panel of each university will be forwarded to the Innovation and Technology Commission for agreement.