XN000022-1995-10-18 — Page 6

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Funding support under research and development schemes

Since the implementation of the Co-operative Applied Research and Development Scheme (CARDS) in June this year, four applications have been received and of these, three projects have been granted funding support of $16 million.

This was stated by the Assistant Director-General of Industry, Mr Raymond Young, at a briefing organised by the Applied Research Council (ARC) today (Wednesday).

"In addition to the Applied Research and Development (Applied R & D) Scheme, CARDS was introduced to enable local companies to leverage on the research expertise in Hong Kong and China in undertaking applied research projects. Under both schemes, the maximum level of funding is set at 75 per cent of fundable expenses," said Mr Young, who is also the Secretary of ARC.

The briefing was organised by the Applied Research Council Co Ltd in view of the keen interest expressed by the public on the Applied R & D Scheme and CARDS.

It was attended by some 350 participants from the manufacturing sector, tertiary institutions and research institutes as well as industry-support bodies.

Participants have shown great interest in the two funding schemes which aim to provide funding support to worthwhile applied research and product development projects undertaken by the local manufacturing sector.

Mr Young said the funding criteria of CARDS were comparable to those of the Applied R & D Scheme, but under CARDS, applicants needed to assemble a research team with researchers from both Hong Kong and China.

He hoped that through the implementation of CARDS, local manufacturers would be more proactive in tapping the vast pool of research expertise in tertiary institutions and research bodies in China of Hong Kong.

"Through this process, technological collaboration between Hong Kong and China would be enhanced to the benefit of the industrial and technological development of Hong Kong in the long run," he added.

End/Wednesday, October 18, 1995