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Business
Hong Kong School Offers Sweet Deal
University makes "pay one, get 10" offer to nanotech research firms
by Jean-François Tremblay
January 19, 2006
The Hong Kong University of Science & Technology is hoping to turn Hong Kong into a world-class center for nanotechnology research with a unique offer to industry.
With the help of funds from the Hong Kong government, the university will provide $9.00 of additional research money for every $1.00 supplied by private companies. “We welcome companies from all over the world. Send them here,” Ka Ming Ng, project coordinator for the Nano Technology & Advanced Materials Consortium, told participants at an information session.
The consortium has secured $34 million from the government. It expects that a typical project will last three years. The “pay one, get 10” offer applies only to the initial stage of a research project. By the time the project nears completion, companies will have to fund half of the research expenditures.
The intellectual property generated will belong to the consortium, which will be operated as a company owned by the university.
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