XN000022-1994-08-04 — Page 9

THURSDAY, AUGUST 4, 1994

COMPANIES URGED TO APPLY FOR RESEARCH FUNDS

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ASSISTANT DIRECTOR-GENERAL OF INDUSTRY MR RAYMOND YOUNG TODAY (THURSDAY) URGED COMPANIES WITH BRIGHT IDEAS FOR APPLIED RESEARCH AND DEVELOPMENT (R AND D) TO LOSE NO TIME TO APPLY FOR FUNDING SUPPORT UNDER THE APPLIED R AND D SCHEME.

SPEAKING AT THE LUNCHEON MEETING OF THE ROTARY CLUB OF KINGSPARK, MR YOUNG SAID THE SCHEME, SET UP BY THE GOVERNMENT IN 1993, WAS AIMED TO INCREASE THE LIMITED VOLUME OF APPLIED R AND D ACTIVITY IN HONG KONG.

CAPABILITY

"THE ULTIMATE GOAL IS TO IMPROVE THE TECHNOLOGICAL AND HENCE THE COMPETITIVENESS OF LOCAL INDUSTRY, THEREBY HELPING ΤΟ SUSTAIN HONG KONG'S ECONOMIC DEVELOPMENT,' HE SAID.

HE NOTED THAT SO FAR 28 APPLICATIONS HAD BEEN RECEIVED BY THE HONG KONG APPLIED R AND D COMPANY LIMITED WHICH ADMINISTERED THE $200 MILLION SCHEME.

FROM

THE NATURE OF THE APPLICATIONS RANGES

TELECOMMUNICATIONS, SOFTWARE DEVELOPMENT TO BIOTECHNOLOGY AND ENVIRONMENTAL PRODUCTS,

MACHINERY, TECHNOLOGY,

ELECTRONICS,

INFORMATION

"THREE PROJECTS HAVE ALREADY BEEN APPROVED. THEY ARE THE DEVELOPMENT OF AN X-CAD COMPUTER AIDED DESIGN SOFTWARE PACKAGE, AN ENVIRONMENTAL FRIENDLY AND DEGRADABLE PACKAGING MATERIAL (CL-P) AND SPREAD SPECTRUM INTEGRATED CIRCUITS FOR LONG RANGE CORDLESS PHONES.

"OF THESE, THE X-CAD PROJECT HAS SUCCESSFULLY DEVELOPED ITS FIRST VERSION, WHICH WAS LAUNCHED IN THE UNITED STATES IN JUNE THIS YEAR, MR YOUNG SAID.

..

HE SAID FOUR OTHER PROJECTS WERE IN THE FINAL STAGE OF NEGOTIATIONS AND THE TERMS AND CONDITIONS FOR FUNDING SUPPORT WERE EXPECTED TO BE FINALISED IN THE NEXT TWO TO THREE MONTHS.

THESE PROJECTS INCLUDE THE DEVELOPMENT OF A SECURITY SYSTEM, A SOFTWARE ON ENVIRONMENTAL RISK ASSESSMENT, AN EDUCATIONAL SYSTEM USING CD-ROM AND MULTI-MEDIA TEACHING AND AN AUTOMATED TESTING EQUIPMENT FOR ELECTRONICS

PRODUCTS.

MR YOUNG POINTED OUT THAT ALL COMPANIES INCORPORATED UNDER THE COMPANIES ORDINANCE OR STATUTORY BODIES SET UP UNDER THE LAWS OF HONG KONG WHICH UNDERTOOK RESEARCH AND DEVELOPMENT LOCALLY WERE ELIGIBLE FOR THE SCHEME,

ASSESSED

PROJECT PROPOSALS SUBMITTED BY THE COMPANIES WOULD BE IN TERMS OF THEIR TECHNOLOGICAL MERIT AND POTENTIAL FOR COMMERCIAL EXPLOITATION, HE SAID.

APPROVED RESEARCH AND DEVELOPMENT PROJECTS MIGHT BE FUNDED TO HALF OF THE PROJECT COSTS IN THE FORM OF EQUITY PARTICIPATION LOAN PROVISION, HE ADDED.

UP

OR

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

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

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