Hong Kong University of Science and Technology seeks funding for new HK$500m innovation centre
New building will house five centres dealing with issues such as robotics, big data and public policy
The University of Science and Technology is planning to raise funds for a new HK$500 million innovation building, senior university administrators said on Wednesday.
The building is part of the university’s plan to expand into five areas: sustainable development, robotics, big data, design and entrepreneurship, and public policy.
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The administrators called on the government to offer a new round of matching grants, whereby tertiary institutions will get a matching amount of government money for the amount of private funds they raise.
“The matching grant scheme is very important and necessary for university development,” said university vice-president Dr Eden Woon Yi-teng. “Many private donors would like to see their contributions strengthened by the matching scheme.”
Woon said the innovation building would cost between HK$300 million and HK$500 million, and the fundraising process would start soon. He said it was difficult for any single donor to cover all or most of the cost so government funding support would be important.
University president Professor Tony Chan Fan-cheong said each of the five development areas would have its own research institute and at least five professors. He said the new building would provide space for the five institutes, serve as a base for students’ innovation projects and provide offices for businesses that would be willing to cooperate with university students and staff on research and development.