1. Background
The University is proactive in introducing new funding channels to facilitate technology transfer from university research to industries. The Proof-of-Concept Fund (PCF) is established to enhance technology transfer process with the support of the Knowledge Transfer (KT) Fund from the Hong Kong Government.
PCF aims at facilitating university researchers to demonstrate the industrial potentials of their inventions / technologies, as well as undergoing proper IP management for effective knowledge transfer to local and regional industries.
The funding process will be operated in complement with the current Invention Disclosure process at the University to assist identified inventions / technologies towards commercialization. Candidates for the PCF will be shortlisted from patent protected inventions / technologies at the University.
PCF aims to assist technology development projects with commercial potentials. The funding provided may be used for the following purposes:
- prototype design and development
- full lab-scale demonstration
- specialist testing, verifying applications and conducting field studies.
Candidates for the PCF are patent protected inventions / technologies at the University that demonstrate industrial potentials, and would likely be adopted by the industries. Project applications will be reviewed by the PCF Review Committee.
3. Focus Areas
PCF will focus on technological areas that are of key economic benefits to the society and in line with the high impact areas as defined in the HKUST Strategic Plan 2005-2020.
Applicants must be faculty members of the HKUST. PCF is complementary to the current Invention Disclosure process at the University. Candidates for the PCF will be shortlisted from patent protected inventions / technologies at the University. Invitations to submit project applications will be sent to inventors for the shortlisted inventions / technologies.
5. Selection Mechanism & Review Process
Candidates will be shortlisted from patent protected inventions / technologies at the University that demonstrate industrial potentials, and would likely be adopted by the industries. Inventor for each shortlisted invention / technology will be invited to submit a project application.
A PCF Review Committee will be established with the VPRG as the Chairman. Members will include senior KT staffs and faculty members. The functions of the Committee are to lay down the policy, regulations and guidelines on running the PCF Scheme; assess, review and approve the proposals submitted to the Committee; and to monitor and evaluate the progress of the funded projects.
Each applicant will be invited to attend the PCF Review Meeting to present the application and answer questions from the PCF Review Committee.
6. Funding Support
The annual budget for the PCF is HK$1,000,000. HK$500,000 is allocated through the Knowledge Transfer Fund from the Hong Kong Government, with the matching fund of additional HK$500,000 from other sources. Up to 5 projects will be granted each year. Each approved project will typlically receive a maximum funding support of HK$200,000. In the case of a project application involves collaboration between faculty members, the PCF committee may consider an increase in funding support accordingly.
Project will typically last no more than twelve (12) months.
Please download “Guidelines for Proof-of-Concept Fund” and “PCF Application Form”. Applicants are required to submit the PCF Application Form to the TTC. PCF application is open throughout the year. Up to a maximum of 5 projects will be granted each year.
A typical application will take approximately 1-2 months to process and the result will be announced once available.
For any enquiries, please contact Miss Vivian Li at 2358 7909 or email to ttvivian@ust.hk
