UGC launches Research Impact Fund
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The University Grants Committee (UGC) today (May 15) announced that a new competitive research funding scheme called the Research Impact Fund would be launched on a pilot basis to encourage local universities to conduct more impactful research and engage in more collaborative efforts with stakeholders outside academia.
The scheme takes forward one of the initiatives announced in the 2017 Policy Address. The Chief Executive stated in the Policy Address that the Government would request universities to conduct more impactful and translational research projects that meet Hong Kong's needs, so as to tie in with the work promoting the development of industries and re-industrialisation. In this regard, the Government requested the UGC to complete the review on the allocation of research grants within one year, and expand the assessment criteria to include research impact as well as effectiveness of knowledge and technology transfer.
The Chairman of the UGC, Mr Carlson Tong, said, "There is an increasing focus on the impact brought about by research projects in our society and economy. We see a need for greater change in the local research culture whereby researchers should be further encouraged to consider actively potential benefits and beneficiaries at the outset and how they will achieve excellence with impact.
"Research impact can be defined broadly. It may include research with academic impact, social and economic impact and research that translates into products and services (e.g. smart city, fintech and robotics technology), as well as research that aligns with important policies and community or social objectives (e.g. dealing with an ageing population and enhancing regional co-operation). Funding applications can be made to the Fund in respect of any research that carries an impact, and there will not be any restrictions or preference with regard to the actual research topic. Academic merit and research impact will be the major assessment criteria.
"We propose allocating an annual sum of $50 million from the UGC's Central Allocation Vote for the implementation of the Fund on a pilot basis. A total of $150 million for the 2016/17-2018/19 triennium would be available in the first call for proposal.
"Implementing the Fund will not only enable Hong Kong to stay competitive in the globalised higher education sector but will also strengthen our research and educational capacity. While the UGC will continue to focus on research excellence, increased emphasis will be placed on realising the impact of our research."
The Fund will be administered by the Research Grants Council. The UGC Secretariat will consult relevant stakeholders, especially universities and front-line researchers, when working out implementation details for the Fund. The first call for proposals is expected to be issued in early 2018.
Ends/Monday, May 15, 2017
Issued at HKT 16:30
Issued at HKT 16:30
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