Research, Academic and Industry Sectors One-plus Scheme (RAISe+)

Objective:

• Launched in October 2023 to unlock the potential of local universities in transforming and commercializing R&D outcomes.
• Facilitates collaboration among government, industries, universities, and research sectors.

Target Beneficiaries:

• Eligible applicants are universities funded by the University Grants Committee (UGC) in Hong Kong.

Key Features:

• Maximum funding support: HK$100 million per project.
• Two-stage funding approach:
  • First stage: Transformation and realization of R&D outcomes.
  • Second stage: Initiation of commercialization of R&D outcomes.
• Applicants may join at either stage depending on the maturity of their R&D outcomes.
• Matching funding ratio:
  • First stage: Government up to 2:1 industry and university contribution.
  • Second stage: Government 1:1 industry contribution.
• Project duration:
  • Up to around five years for two stages (3 years for first stage, remainder for second).
  • Projects starting at second stage must complete within 3 years.
• Mandatory industry sponsorship.
• Intellectual property rights: University teams/inventors must receive at least 70% of IP benefits generated during the project.

Application Process:

• Applications accepted twice yearly; next period from 6 September to 31 October 2024.
• Each university can submit up to 15 applications per cycle.
• Applications must be submitted online via the designated portal.
• Required documents include Funding and Administrative Guidelines and Application Form.

Assessment:

• Applications undergo peer review for technical merit and business review for commercial viability.
• A Steering Committee with members from academia, research, and industry vets applications.
• Final funding approval by the Commissioner for Innovation and Technology.

Additional Notes:

• Funding is deposited into the university’s account; universities manage project funds and may charge up to 10% service fee for support services.
• Assessment criteria weighting differs by stage: innovation focus for first stage, commercial viability focus for second stage.

This scheme supports the full cycle from R&D transformation to commercialization, encouraging strong university-industry collaboration and IP benefit sharing to drive innovation in Hong Kong.