!
Paul!YS!Cheung!
Associate!Vice4President!(Research)!
The!University!of!Hong!Kong!
introducing
TSSSU@HKU
19!January!2015
TSSSU@HKU!2015!
•  Technology!Startup!Support!Scheme!for!
UniversiJes!at!HKU!4!$4M!per!year!from!ITC!
•  Scheme!approved!by!LegCo,!iniJally!for!3!years,!
starJng!from!2014415!government!ﬁnancial!year!
•  Purpose!–!to!encourage!technology!start4up,!
especially!among!young!people!
•  Based!on!Guidelines!of!InnovaJon!and!Technology!
Commission!(ITC)!
2!
Focus!and!PrioriJes!
(a)  Start4up!using!invenJons!and!technologies!developed!by!
HKU.!!
!
(b)  Start4up!using!invenJons!and!technologies!developed!
jointly!between!HKU!and!its!collaborators.!!
!
(c)  Start4up!based!on!technology!developed!by!students!or!
alumni!(within!3!years!of!graduaJon)!during!their!course!
of!study!at!the!University!as!part!of!their!curriculum!(e.g.!
Final!Year!projects,!research!projects).!!The!applicaJon!
team!must!have!the!right!to!commercialize!the!relevant!
technology.!
(d)  Technology!innovaJons!by!staﬀ!or!students!resulJng!
from!employment!or!studies!at!HKU,!with!a!signiﬁcant!
‘knowledge’!and!‘technology’!component.!
!
3!
Funding!Scope!&!DuraJon!(1)!
1.  EssenJal!items!for!secng!up!and!operaJng!the!technology!
start4ups!(e.g.!furniture!and!equipment,!legal!and!
accounJng!services,!rental!of!necessary!and!suitable!
premises,!manpower!etc.).!
2.  R&D!expenditure!(e.g.!manpower,!equipment,!other!direct!
costs,!etc.).!
3.  !PromoJon!of!the!technology!start4ups!and!markeJng!of!
their!project!deliverables.!
4.  License!fee!for!IP!essenJal!to!the!project.!
5.  50%!can!be!spent!outside!Hong!Kong.!
6.  Maximum!duraJon!–!3!years!(but!….)!
!
4!
Funding!Scope!&!DuraJon!(2)!
6.  HKU!will!not!take!any!equity!unless!otherwise!
agreed.!
7.  Awardee!must!be!a!start4up!(within!2!years)!
company!by!Eligible'Applicant.!
8.  Manpower!remuneraJon!limits!(max):!
HK$10,000/month!–!non4degree!
HK$15,000/month!–!Bachelor!
HK$20,000/month!–!Master!or!above!
9.  Award!MUST!be!spent!within!each!ﬁnancial!yr!
10. ConJnued!funding!for!the!2nd!or!the!3rd!year!
requires!applicaJon!again!each!year!!
5!
Eligibility!
An!Eligible'Applicant'must!be!from!one!of!the!following:!
a) 
b) 
c) 
current!full4Jme!professoriate!staﬀ!of!HKU;!
current!full4Jme!or!part4Jme!students!of!HKU;!
graduate!of!HKU!for!no!more!than!3!years!as!of!the!announced!Cut0oﬀ'Date!
of!each!applicaJon!year!(15!March!2015).!
The!applicaJon!for!TSSSU@HKU!must!be!made!by!a!team'(“the'Team”)!
(i.e.!more!than!one!person),!comprising!at!least!one!Eligible'Applicant.!!
The!Team!forming!the!technology!start4up!may!have!any!mix!of!the!
following!members!of!the!University!–!
a) 
b) 
c) 
undergraduate!/!graduate!/!postgraduate!students;!
professor(s)!to!serve!as!consultant(s),!providing!technical!experJse!and!
direcJon!of!the!R&D!work;!and/or!
business!savvy!university!alumni,!giving!business!and!management!advice,!
etc.!
!
The!Team!should!collecJvely!hold!more!than!50%!of!the!shares!in!the!
company.!!For!the!avoidance!of!doubt,!any!person!not!associated!with!
HKU!cannot!be!part!of!the!Team!(but!of!course!can!be!shareholders,!
investors!or!even!founders!of!the!company).!
!
6!
Person4in4Charge!
The!Team!required!a!member!as!the!person0in0
charge!
4who!should!preferably!be!an!Eligible'Applicant'
4  signiﬁcantly!engaged!in!the!technology!start4up’s!
business!and!be!responsible!for:!!
a)  overseeing!the!operaJons!of!the!technology!start4up;!!
b)  liaising!with!HKU!on!maners!relaJng!to!the!funding!
support!under!TSSSU@HKU.!
7!
ApplicaJon!Procedures!
1.  Complete!ApplicaJon!Form!(available!from!
www.no.hku.hk)!with!supporJng!documents!and!
business!plan!for!assessment.!
2.  Make!sure!appropriate!IP!licenses!are!available!(if!
not,!negoJate!quickly).!
3.  Make!sure!you!have!clear!budget,!and!if!addiJonal!
funding!available,!this!will!be!an!advantage.!
4.  Submit!proposal/applicaJon!to!TTO!by!6!February!
2015!5:00!pm!HKT).!
5.  Register!the!company!before!6!February!2015.!
8!
Assessment!and!SelecJon!
A!SelecJon!Panel!from!HKU!will!be!set!up!to!assess!
the!applicaJons!using!the!following!criteria:!
a) 
b) 
c) 
d) 
the!quality!of!the!business-plan-(10%);!
the!innovaJon!and!technology!content!(20%);!
the!commercial-viability!of!the!business!(25%);!
the!capability!of!the!technology!start4up!and!its!team!
to!undertake!the!R&D!work!and!manage!the!company!
(20%);!
e)  the!social!and/or!community!impact!of!the!
technology!start4up’s!business!and!R&D!work!(10%);!!
f)  the!potenJal!of!a4rac5ng-addi5onal-investment-to!
develop!the!technology!and!the!company!(10%),!and!
g)  other!consideraJons!on!the!overall!applicaJon!(5%).!
!
!
9!
Disbursement,!Reimbursement!and!Audit!
1.  As!TSSSU@HKU!award!is!reimbursement!by!
Government,!the!award!is!a!cash!“Advancement”!
to!Awardees.!
2.  The!Advancement!is!considered!fully!paid!by!
government!once!we!obtain!the!reimbursement.!
3.  Awardees!have!to!agree!with!the!terms!of!the!
Government,!provide!the!necessary!half4yearly!
report,!and!conduct!the!audit!according!to!the!
requirements!of!the!Government.!
10!
Monitoring!and!Review!
1.  The!University!is!required!to!provide!mentorship!
and!monitoring!of!all!TSSSU@HKU!Awardees!(we!
need!to!provide!comments!on!the!report).!
2.  Half4year!progress!report,!and!annual!report!
would!be!needed.!
3.  The!University!is!required!to!comment!on!
whether!the!milestones!are!reached!as!part!of!
the!review.!
11!
Change!in!Business!Plan!
SubstanJal!change!in!business!plan!(change!in!key!
members,!deliverables,!major!milestones,!major!
change!in!budget!spending!etc)!require!prior!wrinen!
approval!(otherwise!you!would!have!problems!
during!audit).!
12!
Timeline!!
Call!for!ApplicaJons!TSSSU@HKU
!6!Jan!2015!
Closing!(internal!–!5:00!pm)!
!6!Feb!2015!
Recommended!List!to!ITC!(cut4oﬀ!date) !15!Mar!2015!
Announcement!of!Results
!~!1!Apr!2015!
Spending!Period!
!1!Apr!2015!–!31!Mar!2016!
Annual!Report
!31!May!2016!
Audit!Report
!30!Jun!2016!
!
! !!
!
13!
Q-&-A14!