Some 300 university research projects voted as worthy of funding have lost out because of limited resources. But more than 570, including many involving information technology, were approved. The Research Grants Council said yesterday it would allocate $325 million in government funds to academics from seven institutions for 1999-2000. Council chairman Professor Kenneth Young promised to fight for more money for projects. Professor Young, pro-vice-chancellor and professor of physics at Chinese University, said institutions were submitting more projects relevant to information technology. He said even some projects on the humanities touched on the use of hi-tech equipment, but that did not mean the council would neglect other areas of development. The council received 1,496 applications asking for about $1.4 billion this year - a six per cent increase over last year. Of the money granted, more than $121 million would go to engineering, $95 million to biology and medicine, $62 million to social sciences and business studies and $44 million to physical sciences. The University of Hong Kong was awarded $82 million for its 130 projects. Graduates will soon be able to apply for money to develop hi-tech products. The University of Hong Kong, Chinese University and Hong Kong University of Science and Technology have set up a company to help graduates start businesses. The company has already secured about $25 million from the Industry Department and private corporations.