HK$150m fund to support research that benefits society, economy

Local | 15 May 2017 5:01 pm

A HK$150 million fund will be set up to encourage universities to undertake research such on areas such as fintech and robotics, as well as on the aging population and enhancing regional co-operation, that will have an economic and social impact, the

University Grants Committee, said today.

The Research Impact Fund would be launched on a trial basis.

"There is an increasing focus on the impact brought about by research projects in our society and economy. We see a need for greater change in the local research culture whereby researchers should be further encouraged to consider actively potential benefits and beneficiaries at the outset and how they will achieve excellence with impact,'' UGC chairman Carlson Tong said.

"Research impact can be defined broadly. It may include research with academic impact, social and economic impact and research that translates into products and services (for example, smart city, fintech and robotics technology), as well as research that aligns with important policies and community or social objectives (for example, dealing with an aging population and enhancing regional co-operation).''

But he said there will not be any restrictions or preference with regard to the actual research topic. "Academic merit and research impact will be the major assessment criteria.''

The fund will be administered by the Research Grants Council.

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