CityU Knowledge Transfer Office TSSSU_SEEDS Q&A Session

Knowledge Transfer Office (KTO) arranged Q&A Session for TSSSU and SEEDS on 17^th Oct 2019.  TSSSU (Technology Start-up Support Scheme for Universities) is a funding scheme launched by the Innovation and Technology Commission (ITC) to encourage commercialization of R&D results through establishing start-ups. A start-up selected under TSSSU can receive a maximum funding of HK$1.5 million per year on a reimbursement basis.  SEEDS (Student Early Entrepreneurship Development Scheme) provides funding up to HK$200,000 to nurture entrepreneurial ideas. CityU student teams are eligible to apply (staff and alumni are welcome to serve as advisors).  I was the first time to go to the Innovation Commons inside library in CityU. 

Ms Wendy Yau (Executive Officer, KTO) was the speaker to introduce TSSSU and SEEDS schemes to students.  Many students were interested in both funding programmes. 

The TSSSU funding max. is HK$1.5m/year per startup for max. 3 consecutive years.  The funding period is from 1 April 2020 to 31 March 2021.  CityU TSSSU Application deadline is on 18 November 2019 (Monday) before 5:00PM

Each team should appoint a person-in-charge (PIC) who is a CityU undergraduate/postgraduate, a full-time professor or an alumnus who graduated within recent 5 years (graduated on or after 1 Jan 2015). The PIC should hold a senior position in the start-up.  However, team member could be senior alumni without graduation period limit.

The scope of funding basically includes relevant, reasonable and proportionate in Manpower, Equipment and other Direct Cost which mainly in Hong Kong.  However, funding does not include rental expenses that were irrelevant to operation, Gifts for promotion, Investment, Travelling expenses, Entertainment expenses, etc.  However, the funding is based on reimbursement arrangement that start-ups should have enough cash/capital for operation at least 6 to 9 month’s cash flow!

The TSSSU funded project should report the progress quarterly and to submit auditors’ report annually.  The schedule is showed as following table.

The Assessment Criteria were described that included “Innovation and Technology Content”, “Commercial Viability”, “Sustainability”, “Capability of the Start-up”, “Social Impact” and “Use of IP of CityU”. 

The success TSSSU funded projects from 2015/16 to 2019/20 are showed in the following table.

Then the second part was Student Early Entrepreneurship Development Scheme (SEEDS).  The max funding is upto HK$200k per start-up for initial idea and the period from Mar 2020 to 31 Aug 2021.  

Each team should appoint a person-in-charge who is a current CityU student under an academic programme funded by the University Grants Committee. CityU student teams are eligible to apply (staff and alumni are welcome to serve as advisors). 

The scope of funding includes “R&D cost”, “Prototyping Development”, “IP Licensing Fee”, “Legal Fees” and “Marketing Expenses”.  However, it is not funded for staff costs and salaries, office rental, travelling expenses, financial investment, meals & entertainment, and company registration and related expenses.  

The SEEDS funded project should be report progress six times quarterly and one final report.  The criteria of SEEDS is similar to TSSSU.  The following table is compared

Q&A Session

Some questions students were concerned including IP ownership, stakeholder structure and person-in-charge (PIC), team member number, funding coverage, successful rate, etc.

Reference:

CityU Eminence Society - www.cityues.org

KTO - http://www.cityu.edu.hk/kto/

ITC-TSSSU - https://www.itf.gov.hk/l-eng/TSSSU.asp

20190522: CES Work Group meeting with KTO, CityU - https://qualityalchemist.blogspot.com/2019/05/ces-work-group-meeting-with-kto-cityu.html

20151123: CityU Innopreneurship Ecosystem Launch Ceremony 2015 - https://qualityalchemist.blogspot.com/2015/11/cityu-innopreneurship-ecosystem-launch.html