Five project teams led by Faculty of Engineering Professors received funding support from the inaugural Research, Academic and Industry Sectors One-plus Scheme (RAISe+ Scheme) of The Innovation and Technology Commission (ITC) of the Hong Kong government. A signing ceremony was held on 28 May 2024 (Tuesday). The projects cover a diverse range of innovative areas from advanced engineering, biomedical to biotechnology, demonstrating a high level of technology which enables the translation of research outcomes into product developments. Being granted funding for five projects, Faculty of Engineering recevied the highest number of awards among CUHK's research teams. The application threshold for the RAISe+ Scheme is very high, and the research teams are required to raise no less than half of the amount they apply for from commercial sources. The projects selected have to meet the Scheme’s requirements of realising R&D outcomes and launching product prototypes into the market in two phases. Projects participating in the Scheme have proven to be good enough to attract industry investors, demonstrating those investors’ confidence in the prospects of commercialising the results. List of Engineering projects receive funding support from RAISe+ Scheme
About the Research, Academic and Industry Sectors One-plus Scheme (RAISe+ Scheme) Launched in October 2023, the Research, Academic and Industry Sectors One-plus Scheme (RAISe+ Scheme) aims to unleash the potential of local universities in transforming and commercialising R&D outcomes, and facilitate collaboration among the Government, industry, university and research sectors. The RAISe+ Scheme will fund, on a matching basis, research teams in eight universities funded by the University Grants Committee that have the potential to become successful start-ups. Up to HK$100 million in funding support will be provided to each project that is approved.
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