Research projects get $56m backing

PUBLISHED : Friday, 22 December, 1995, 12:00am
UPDATED : Friday, 22 December, 1995, 12:00am

THE Government has provided through its funding schemes more than $56 million for 15 projects to promote technological upgrading in the manufacturing sector.

Since the introduction of the Applied Research and Development Scheme and Co-operative Applied R & D Scheme in recent years, the Government has funded projects covering areas such as electronics, computer software, telecommunications and biotechnology.

The $200 million Applied R & D Scheme aims to provide direct funding support to individual firms.

The $50 million Co-operativeApplied R & D Scheme is to fund R & D projects using research bodies in Hong Kong and China.

The Industrial Support Fund has also been launched to provide funding support for industrial projects on a yearly basis.

Since its launch, the Government has approved more than $390 million for more than 130 projects.