Speech by SITI at Launch Ceremony of HKUST RAISe+ Project Fund
Following is the speech by the Secretary for Innovation, Technology and Industry, Professor Sun Dong, at the Launch Ceremony of the HKUST RAISe+ (Research, Academic and Industry Sectors One-plus) Project Fund today (October 16):
Chairperson Shih (Vice-Chairperson of the University Council of the Hong Kong University of Science and Technology (HKUST), Ms Edith Shih), Professor Cheng (Vice-President for Research and Development of the HKUST, Professor Tim Cheng), distinguished guests, faculty members and researchers,
Good morning. It is my honour to be here today at the Launch Ceremony of the HKUST RASIe+ Project Fund.
Universities play an important role in Hong Kong’s development as an international innovation and technology centre. They advance knowledge, nurture talent, and develop innovative technologies to address real-world challenges. Yet, promising research must be validated to meet market needs before it can be transformed into viable products and services. This requires close collaboration among the Government, industry, academia, and research and investment sectors.
This is why we initiated the Research, Academic and Industry Sectors One-plus (RAISe+) Scheme in 2023. Since then, the $10 billion Scheme has paved the way to connect universities’ R&D (research and development) outcomes with industry capital and real market demand. To date, 73 projects have been approved under the Scheme, with Government funding commitment of over $3 billion.
I am pleased to see the HKUST’s active participation in this Scheme, with 19 projects supported so far. They cover a range of technology areas, including medical applications, artificial intelligence and environmental solutions, demonstrating the potential for university research outcomes to address practical needs across different sectors.
I am delighted that the HKUST has taken one step further to launch the RAISe+ Project Fund that complements the Government’s efforts. By providing additional institutional support for research teams, the Fund helps promising projects progress from research and development towards practical applications. This also aligns with the direction set out in Hong Kong’s First Five-Year Plan announced last month, which emphasises our basic scientific research capabilities in original innovation and the role of institutions in attracting and cultivating talent for technological innovation.
As announced in the 2026 Policy Address, the Government is exploring the establishment of the Innovation and Technology Application Scenario Promotion Centre. By matching excellent innovative technologies with the practical needs of public and private organisations, the Centre aims to provide more opportunities for promising local research outcomes to be tested, validated and finally commercialised. At the same time, the Government will continue to support university knowledge transfer through our annual funding provided to the Technology Transfer Offices of local universities.
Ladies and gentlemen, RAISe+ is meant to be a bridge between Hong Kong’s research excellence and real market needs. The launch of the HKUST’s RAISe+ Project Fund today is an example of how universities can complement the Government’s initiative and contribute to this common objective.
I look forward to seeing more research teams work closely with industry partners to bring promising technologies into practical use, creating value for our economy and society. My congratulations go to the HKUST once again on the launch of the Fund, and I wish the initiative every success. Thank you very much.
Source: AI-found images
Speech by SITI at Launch Ceremony of HKUST RAISe+ Project Fund Source: HKSAR Government Press Releases
Source: AI-found images
