(A) The Exercise

1.	Number of applications received	10
2.	Number of eligible full proposals	5
3.	Number of proposals recommended for funding	2
4.	Success rate (over the number of eligible applications):	20.0%
5.	Total approved budget of the funded projects:	$156.337 million1
6.	Total funding amount from the RGC:	$132.162 million1

¹ Inclusive of indirect costs / on-costs
 
(B) Selection Panel's Comments for Applicants' Reference

1. Quality of applications (i.e. strengths, weaknesses and gaps of proposals):

• Most proposals were strong and the ideas were novel, while some had translational potential. The project teams were highly qualified and performed well during the interviews. Panel members were impressed by the technical abilities of the project teams.
• Some applicants had difficulty in making a case to the Selection Panel that the project deserved an AoE title even though it had outstanding research outputs. One proposal was too narrow in scope and the Selection Panel had no sufficient enthusiasm to consider it worthy of funding.

2. Other comments:

• There were concerns about the high percentage of collaborative funding allocated to the Project Coordinator and / or coordinating university which in some cases could present some potential risks.
• One full proposal did not meet the page limit requirement and was returned without review. Applicants should be mindful of strict compliance of application rules and requirements.