[Hong Kong, May 28, 2024] – The Government of the HKSAR announced today the first-round review results of the Research, Academic and Industry Sectors One-plus Scheme (RAISe+). More than 20 projects were funded, with each approved project receiving up to HK$100 million in funding, including HKBU’s “Advanced Point-of-care Molecular Systems for Clinical and Non-clinical Applications” led by Professor Terence Lau, under the Health and Medical Sciences category. Being selected for this scheme not only fully affirms the project’s strengths in various aspects such as its I&T component, commercial viability of project outcomes, financial considerations, technical and management capability of the team, but also its relevance with government policies or the overall interest of the community. We are very honoured to be a strategic partner of HKBU in this project, and we look forward to witnessing a new page in HKSAR’s health and medical science industry.
This innovative diagnostic project has successfully integrated biotechnology and engineering expertise through collaborative teamwork. By applying advanced microfluidic technology and unique production techniques, diagnostic test can now be more comprehensive and at a much lower cost. Designed as a platform technology, applications can be further extended to cover many different clinical and non-clinicalfields, including but not limited to various infectious diseases, cancer, food safety, real-time environmental monitoring, and more. It provides solutions to unmet medical needs and can serve as a strategic medical reserve to prepare potential outbreaks in the future. With the support from RAISe+ Scheme, the team is dedicated to developing the second generation of the platform with the goal of further reducing testing time, making the device handier for use, and further unleashing its potential in various applications.
Dr Manson Fok, founder and chairman of EVDL, stated that “We congratulate HKBU and Professor Lau on their achievements and would like to extend our gratitude and appreciation to the Government of the HKSAR for its support for I&T and development of new industry in Hong Kong. We would continue to dedicate ourselves to the development of novel medical technology with the aim to benefit our people.”
To achieve the goals of the project, the company will bring in technical experts in various fields, provide R&D instruments, high-end and high value-added molecular diagnostic production plants and more, in fostering more R&D exchanges, technology transfer, and turning scientific research results into commercially viable products for the community and bringing business returns. We look forward to continuing to achieve excellence in the future, bringing more breakthroughs to the industry and further pushing beyond boundaries.
Research, Academic and Industry Sectors One-plus Scheme (RAISe+)
The “Research, Academic and Industry Sectors One-plus Scheme (RAISe+ Scheme) is part of the “Hong Kong I&T Development Blueprint” launched by the Hong Kong Special Administrative Region Government of the People’s Republic of China in order to lead Hong Kong at full steam towards the vision of being an international I&T centre, to improve the I&T ecosystem, and to realize “re industrialization” in Hong Kong. Launched in October 2023, RAISe+ aims to unleash potential of local universities in transformation and commercialization of R&D outcomes, and facilitate relevant collaboration among the Government, industries, universities, and research sectors. RAISe+ will fund, on a matching basis, at least 100 research teams in universities which have good potential to become start-ups. Each team should complete its project in two stages: the first stage for the transformation and realization of R&D outcomes within three years and the second stage for the commercialization of R&D outcomes within the subsequent two years. The aim is to incentivize collaboration among industry, academic and research sectors to further promote the “1 to N” transformation of R&D outcomes and industry development. Applications submitted by universities will be subject to peer review on their technical aspects, business review on their commercial viability, and vetting by a Steering Committee (SC) comprising members from academic, research and industry sectors. The SC will recommend applications for funding support for approval by the Commissioner for Innovation and Technology.
More about RAISe+ Scheme：https://www.itf.gov.hk/en/raiseplus
Hong Kong Baptist University (HKBU) & The Institute for Innovation, Translation and Policy Research (ITPR)
Founded in 1956 as Hong Kong Baptist College and renamed Hong Kong Baptist University (HKBU) in 1994, our University has maintained an enduring commitment to excellence in teaching and learning, research and scholarship, service and discovery, all built upon the heritage of Christian higher education. We announced our Institutional Strategic Plan 2018-2028 in 2017. In the plan, we would both re-dedicate HKBU to its historic mission and re-imagine the institution for its transformational future. We will offer the best student experience with emphasis on integrity, creativity and communication, and promote research excellence that advances knowledge, scholarship and academic leadership fit for the holistic development of Hong Kong, the nation, the region and the world. ITPR of HKBU is committed to driving innovations, research and development (R&D), technology translation, and applications to enable HKBU to respond to emerging challenges and opportunities globally, nationally, as well as those under the aegis of the Hong Kong SAR Government’s top policy priority on innovation and technology development. We strive to bridge the gap in technology readiness between academic innovation and industry applications. ITPR comprises three sections – Innovation and Entrepreneurship, Technology Translation, and Policy Research – each being instrumental in fostering a vibrant ecosystem at HKBU conducive to technology translation and collaborations. All-round business development, scientific, and policy research support will anchor HKBU’s robust and sustainable development.
Hong Kong Baptist University: https://www.hkbu.edu.hk/en/about.html
The Institute for Innovation, Translation and Policy Research: https://itpr.hkbu.edu.hk/en.html
Emerging Viral Diagnostics (HK) Limited (EVDL)
Founded in 2015, EVDL is a Hong Kong homegrown MedTech company formed by medical doctors, experienced scientists, and professional engineers who share the same vision and passion in providing solutions to unmet medical needs. With a unique integration of expertise ranging from scientific research to manufacturing and commercialisation, and the ability to line up different strategic collaborations, we transform knowledge into innovative, yet practical diagnostic solutions for the community. Our innovative technology, the Avalon Automated Multiplex System, is a fully automated, highly multiplexed, all-in-one point-of-care diagnostics system that spearheads the diagnostic industry through innovations in biochemistry, engineering, and production. As part of the Avalon Biomedical (Management) Limited, a local biotechnology incubator, we aspire to become a world leader in the diagnostic industry and to push Diagnosis beyond Boundaries!
YouTube Channel: www.youtube.com/@evdl
