A wealth of applications for research grants resulted this year in funds being allocated to 693 projects at a cost of HK$403 million. Altogether, the Research Grants Council received 1,630 applications in its annual Competitive Earmarked Research Grant exercise for 2001-2002 which culminated in late June. "If not for the limited funding available, the RGC would have funded another 441 proposals which merit funding support," said the Council's chairman, Prof Kenneth Young. "I'm pleased to note that the overall quality of research proposals received has continued to improve," he added. The number of projects approved represents a success rate of 43 per cent of the total, 4 per cent higher than last year. Total funding was 9 per cent more than last year. Supported projects cover all disciplines including 62 in computer science and information technology, 30 in biotechnology, 21 related to environmental and ecological studies, 43 in materials science, 49 in international finance, economics and enterprise management, and 36 examining Hong Kong's cultural and social issues.