Technology Start-up Support Scheme for Universities (TSSSU)
Objective
Launched in 2014, TSSSU provides funding to six universities33 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.
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 deadline34;
- 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 investment35 it has secured during the recognised matching period36 is no less than the amount of funding it intends to apply for (for TSSSU+ applicants only).
Key Features
- 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.
Application
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 –
| University | Weblink |
|---|---|
| City University of Hong Kong | https://www.cityu.edu.hk/kto/cityuhkers/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/funding-support-incubation-program/tsssu,-tsssu-cuhk |
| The Hong Kong Polytechnic University | https://www.polyu.edu.hk/kteo/entrepreneurship/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 | https://tec.hku.hk/hkutsssu |
Assessment
Applications assessed and recommended by the selection panel of each university will be forwarded to the Innovation and Technology Commission for agreement.
Others
Some examples of the TSSSU-funded start-ups are available at this weblink. For information on the funded start-ups, please refer to the TSSSU Directory.
