16/10/2026
HKUST has launched a HK$100 million RAISe+ Project Fund to support HKUST projects under the Government’s Research, Academic and Industry Sectors One-plus Scheme (RAISe+). Capitalized through the University’s equity holdings in earlier HKUST start-ups, the Fund will help turn promising research into practical applications.
Speaking at the launch ceremony today October 16, Prof. SUN D**g, Secretary for Innovation, Technology and Industry of the HKSAR Government, commended HKUST’s active participation in RAISe+. He noted that the new Fund complements the Government’s efforts, helping promising projects progress from research and development towards practical applications. He added that this also aligns with the direction set out in Hong Kong’s First Five-Year Plan, which emphasizes strengthening basic scientific research capabilities for original innovation and the role of institutions in attracting and cultivating talent for technological innovation.
Also at the ceremony, Three HKUST Engineering faculty members whose projects have received RAISe+ funding shared how the Scheme strengthens the credibility of their research and supports their commercialization efforts:
Prof. SU Hui
• Chair Professor in Department of Civil & Environmental Engineering
• Co-founder of Stellerus, an AI meteorological technology startup
Prof. SUN Qingping
• Chair Professor in the Department of Mechanical and Aerospace Engineering
• Co-founder of CoolStar, a startup specializes in green elastocaloric cooling and heating technology
Prof. Terence WONG
• Associate Head and Associate Professor in the Department of Chemical and Biological Engineering
• Founder of PhoMedics, a medical imaging tech startup
Launched by the Innovation and Technology Commission, the HK$10 billion RAISe+ Scheme supports strategic research and development projects with strong potential for real-world impact. HKUST leads all local universities with 19 funded projects out of the 73 awarded across the Scheme’s first three funding rounds. HKUST School of Engineering alone accounts for 13 of these projects.
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