23 22 HKU ANNUAL REPORT 2023 ADDING VALUE HKU was once again the top performer among local institutions in competitive funding exercises in 2023–24 (see page 23). We are also investing in research internally through the Large Research Equipment Fund, launched in 2022 with a pool of HK$1 billion to upgrade research infrastructure and purchase shared new equipment, and the Lasting Impact Fund to give scholars pursuing blue-sky research the time needed to develop their ideas. The latter includes HK$1 million per proposal for up to four years, plus up to HK$3 million for experimental expenses and equipment. To support research translation into innovation, the HK$400 million Entrepreneurship Engine Fund was announced at the DreamOn event in June 2023. It provides ‘patient capital’ to seed early-stage deep-tech ventures that need more time to develop before seeking private investments, as well as funds to accelerate promising start-ups. HKU has also increased our academics’ profit share of their inventions to 80%, from 33.3% previously. The University also disperses funds from the government’s Technology Start-up Support Scheme for Universities (TSSSU) among campus inventors. In 2023–24, HK$16 million was shared among 25 teams and another seven teams benefitted from TSSSU+, which offers matching funds up to HK$1.5 million for start-ups with private investment. HKU teams are also preparing to apply to the government’s coming Research, Academic and Industry Sectors One-plus Scheme (RAISe+), which will provide up to HK$100 million per project involving university-industry collaboration. Institution-level partnerships are a central part of HKU’s impact strategy. In 2023, the HKU-Qianhai Institute of Intelligent Transport was inaugurated in Shenzhen to focus on developing smart city and smart transportation applications. The HKU Musketeers Foundation Institute of Data Science signed a collaboration agreement with the Shanghai Artificial Intelligence Laboratory to jointly invest in research and talent recruitment in AI and data science. And HKU and the Beijing Institute of Collaborative Innovation formed the HKU Collaborative Innovation Center to admit graduate students who want to pursue translational research projects with entrepreneurship training. Internationally, HKU signed a Memorandum of Understanding with Fudan University and the University of Sydney in June 2023 on advancing research and education to promote sustainable development. INVESTING IN FUTURE IMPACT FUNDING SUCCESS NEW COLLABORATIONS HKU and the Beijing Institute of Collaborative Innovation held a Plaque Unveiling Ceremony to mark the establishment of the HKU Collaborative Innovative Center. The University has taken a significant step towards addressing global environmental challenges by signing a Memorandum of Understanding with Fudan University and the University of Sydney, aiming to advance research and educational programmes promoting sustainability development. + 571.7 HK$ MILLION 789.5 HK$ MILLION HIGHEST OF ALL HONG KONG TERTIARY INSTITUTIONS 32.4 MILLION HK$ EARLY CAREER SCHEME 2023–24 40 PROJECTS EXCELLENT YOUNG SCIENTISTS FUND 2023 (HONG KONG AND MACAU) 8 AWARDS GIVEN TO HKU SCIENTISTS BY THE NATIONAL NATURAL SCIENCE FOUNDATION OF CHINA HKU SECURED THE MOST AWARDS FOR 5CONSECUTIVE YEARS HIGHEST OF ALL HONG KONG TERTIARY INSTITUTIONS 243.8 MILLION HK$ GENERAL RESEARCH FUND 2023–24 244 PROJECTS 54 PROJECTS 54.7 FOR RMB FUNDED BY MAINLAND CHINA SOURCES IN 2022–23 MILLION FUNDING FROM UGC AND RGC FUNDING FROM OTHER SOURCES FOR NEW RESEARCH PROJECTS IN 2022–23 130 LED BY HKU, WITH OUR SCHOLARS ALSO MEMBERS OF ANOTHER SIX PROJECTS INCLUDING ON-COSTS MILLION THEME-BASED RESEARCH SCHEME 2023–24 HK$ 2 OUT OF 9 PROJECTS 41.1 LED BY HKU, WITH OUR SCHOLARS ALSO MEMBERS OF ANOTHER TWO PROJECTS HK$ STRATEGIC TOPICS GRANT 2023–24 2 OUT OF 6 PROJECTS EXCLUDING ON-COSTS MILLION
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