Gov’t opens applications for tech scheme

The government allocated $10b for the scheme aiming to commercialise research and development (R&D) outcomes.

The government has opened applications for its Research, Academic & Industry Sectors One-plus Scheme on 18 October.

The scheme aims to promote the “1 to N” transformation of R&D outcomes and industry development.

Under the scheme, the government will fund at least 100 research teams in eight universities funded by the University Grants Committee.

The government will provide funding support from $10m  to $100m for each approved project.

Each project proposal will be subject to assessment. Assessment criteria include the innovation and technology component of the project, commercial viability of project outcomes, technical and management capability of the team, relevance of the project with government policies or in the project's overall interest to the community, as well as the financial considerations of the project.

The government expects to announce the first batch of application results in 1Q24.

Applications are open until 30 November. Eligible universities are welcome to apply.