The funding schemes under the Innovation & Technology Fund have been expanded to cover the private sector in a bid to create more job opportunities for research and development staff and interns.

Commissioner for Innovation & Technology Eddy Chan said today local universities, R&D centres or private-sector companies can hire up to two interns to assist in each project funded by the fund.

Each intern will get a monthly allowance of $10,000 for first-degree graduates and $12,000 for those with Master or higher degrees. The maximum internship period is 24 months.

"We have reserved about $90 million this year to engage 600 interns for existing and new Innovation & Technology Fund projects. If necessary, we will provide additional resources to meet the demand for interns," he said.

SERAP support doubles to $4m per project

He said the maximum funding support under the Small Entrepreneur Research Assistance Support Programme will be raised to $4 million from $2 million per project.

The Commission will conduct three rounds of project-proposal solicitation under the Innovation & Technology Support Programme this year, to encourage local universities and research institutes to undertake more projects which will create more jobs.

Project proposals should be submitted by March 20. Click here for details of the technology themes and application guides and procedures.