A total of 191 applications for funding support, with a total funding request of HK$ 188 million, for Tier 3 projects of the Innovation and Technology Support Programme (ITSP) have been received when the application period closed on 30 April 2008. The technology areas covered by these applications include biotechnology, information technology, foundation industries and electronics, etc.

The Government has adopted a three-tier structure in funding proposals under the ITSP since 2005. Tier 3 refers to proposals for more forward-looking and innovative applied R&D projects. The funding requested for each project proposal should not exceed $1 million and the project duration should not exceed 18 months.

Assessment of the applications is now underway by a panel formed by businessmen, technologists, academics and government officials. Results will be announced in the third quarter of 2008.