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What are the funding opportunities for researchers in self-financing degree awarding sector?

In January 2012, an additional injection of $5 billion into the Research Endowment Fund was approved. The investment income from $3 billion of the injection will fund the local self-financing degree sector on a competitive basis to enhance the academic and research development. The Education Bureau invited the Research Grants Council (RGC) to oversee the new resources, including formulation of new funding schemes and implementation and monitoring of the schemes. The RGC has formed a working group to take forward the matter. The working group conducted a series of visits and meetings with the stakeholders to understand the research needs of the sector. RGC has finalized three new funding schemes, including the Faculty Development Scheme, Institutional Development Scheme, and Inter-Institutional Development Scheme which are launched in December 2013.