Hong Kong has committed more than HK$3 billion (US$382.8 million), to 73 projects under the RAISe+ scheme, Secretary for Innovation, Technology and Industry Sun Dong said at the Hong Kong University of Science and Technology’s annual Unicorn Day event.

The Hong Kong University of Science and Technology secured funding for 19 projects, the most among local institutions, according to Sun and HKUST president Nancy Ip.

Launched in October 2023 under the Innovation and Technology Fund, the RAISe+ scheme gives university teams up to five years to commercialise their research and development outcomes.

Each team can receive as much as HK$100 million (US$12.7 million).

The program is part of Hong Kong’s push to become an innovation and technology center, backed by higher government spending, new data centers for AI computing, and the Northern Metropolis development near the city’s border with mainland China.

🔗 Source: South China Morning Post

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