What is "Competitive Research Funding for the Local Self-financing Degree Sector"?
- In Policy Address 2011, the then Chief
Executive proposed a new injection of
$5 billion into the Research Endowment
Fund (REF). Out of that, $3 billion was
designated to support the academic and
research development of local self-financing
degree-awarding sector on a competitive
basis. Funding was approved by the Legislative
Council in January 2012. Assuming a rate
of 5% of interest income, there will be
about $150 million available per year.
The Education Bureau (EDB) invited the University Grants Committee (UGC) / Research Grants Council (RGC) to oversee the new resources for local self-financing degree-awarding institutions including the formulation of the framework of proposed funding schemes and monitoring the implementation of the new schemes.
There are three Funding Schemes for the local self-financing degree sector:
- Faculty
Development Scheme (FDS): To develop
the research capability of individual
academics;
-
Institutional Development Scheme
(IDS): To build up the research capacity
of the institutions in their strategic
areas; and
-
Inter-Institutional Development Scheme
(IIDS): To enhance academics' research
capability in the institutions and
keep them abreast of new developments
and challenging research topics in
relevant fields.
- Faculty
Development Scheme (FDS): To develop
the research capability of individual
academics;