Technology Start-up Support Scheme for Universities (TSSSU)

TSSSU provides funding to six universities to support their teams in starting technology businesses and commercialising their research and development (R&D) results. In addition to the original component of the Scheme (TSSSU-O), an enhancement measure (TSSSU+) will be introduced with effect from 2023-24 to provide dollar-to-dollar matching funds to those start-ups which have demonstrated good growth potential through securing investment from private sector.

Key Features

• Maximum funding support: an annual funding of up to 16 million (i.e. $8 million each for TSSSU-O and TSSSU+) is provided to each of the six universities. Each funded technology start-up may receive up to $1.5 million each year for no more than three years.
• Scope of funding: essential items for setting up and operating the start-ups (e.g. furniture and equipment, legal and accounting services, rental of necessary and suitable premises, manpower, etc.), expenditure on R&D, promotion activities and marketing of their R&D deliverables, products or services.
• Provision of funding: funding is provided to the universities on a reimbursement basis after the close of each Government financial year. However, individual universities may, having regard to their needs, request advance payment of up to 50% of the approved funding amount.
• Intellectual property rights ownership: approved start-up and/or associated university.

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