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

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

- **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.