XN000022-1993-07-06 — Page 6

TUESDAY, JULY 6, 1993

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10 APPLICATIONS RECEIVED FOR RESEARCH FUNDING

A TOTAL OF 10 APPLICATIONS HAVE BEEN RECEIVED UNDER THE $200 MILLION APPLIED RESEARCH AND DEVELOPMENT SCHEME SINCE IT WAS LAUNCHED BY THE INDUSTRY DEPARTMENT EARLY THIS YEAR, THE DIRECTOR-GENERAL OF INDUSTRY, MISS DENISE YUE, SAID TODAY (TUESDAY).

MISS YUE SAID THE APPLICATIONS FELL WITHIN TECHNOLOGY AREAS AS COMPUTER SOFTWARE, TELECOMMUNICATIONS, HEALTH CARE AND ENVIRONMENTAL PRODUCTS.

SUCH

THE AMOUNT OF FUNDS APPLIED FOR RANGES FROM BELOW A MILLION to A FEW MILLION DOLLARS.

"NINE OF

THE APPLICATIONS ARE BEING PROCESSED FOR CONSIDERATION BY THE HONG KONG APPLIED R&D FUND COMPANY, SET UP TO ADMINISTER THE SCHEME, WHILE ONE HAS BEEN REJECTED, SHE SAID.

MISS YUE SAID THE SCHEME WAS AN IMPORTANT INITIATIVE OF THE INDUSTRY AND TECHNOLOGY DEVELOPMENT COUNCIL (ITDC), THE GOVERNMENT'S PRINCIPAL ADVISORY BODY ON INDUSTRIAL AND TECHNOLGY MATTERS.

"THE OBJECTIVE OF THE SCHEME APPLIED R&D ACTIVITY IN HONG KONG A CATALYST.

BY

IS то INCREASE THE VOLUME OF

PROVIDING FUNDING SUPPORT

AS

"IT IS HOPED THAT THIS IN TURN WILL ENHANCE THE TECHNOLOGICAL CAPABILITY AND THE COMPETITIVENESS OF OUR LOCAL INDUSTRIES, SHE SAID.

+

MISS YUE SAID ALL COMPANIES INCORPORATED UNDER THE COMPANIES ORDINANCE OR STATUTORY BODIES SET UP UNDER THE LAWS OF HONG KONG WHICH UNDERTOOK R&D LOCALLY WERE ELIGIBLE FOR THE SCHEME.

"IN ASSESSING PROPOSALS, THE HONG KONG APPLIED R&D FUND COMPANY LIMITED WILL CONSIDER THEIR VIABILITY, TECHNICAL FEASIBILITY AND COMMERCIAL POTENTIAL.

"APPROVED FUNDS MAY MEET UP TO HALF OF THE PROJECT COST AND

THE WILL BE DISBURSED TO

SUCCESSFUL APPLICANTS BY INSTALMENTS AT AGREED INTERVALS," SHE SAID.

APPLICATION FORMS FOR THE SCHEME CAN BE OBTAINED FROM THE HONG KONG APPLIED R&D FUND COMPANY LIMITED AT ROOM 1445, 14TH FLOOR, OCEAN CENTRE, 5 CANTON ROAD, KOWLOON.

COMPLETED FORMS CAN BE RETURNED BY POST OR BY HAND ΤΟ THE COMPANY. ENQUIRIES CAN BE MADE BY TEL 737 2206.

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