A total of 393 applications for funding support had been received under the 2005 Hong Kong/ Guangdong Technology Cooperation Funding Scheme when applications closed last Friday, according to a government press release on Monday.

Under the scheme this year, the Guangdong Provincial Department of Science and Technology and the Hong Kong Innovation and Technology Commission will provide funding support to universities, research institutions and private enterprises to conduct applied research and development (R&D) in six technology areas.

They include information and communications technologies, critical precision manufacturing equipment, medical biotechnology and medical device, new materials, agricultural product processing and food safety, and environmental technology and green manufacturing.

The funding scheme, launched by the Hong Kong/Guangdong Expert Group on Cooperation in Innovation and Technology last September, encourages collaboration between R&D institutions and industry and upgrading of the industry in the Greater Pearl River Delta region.

"During the application period from June 13 to Aug. 12, 2005, the Hong Kong side received 87 applications while the Guangdong side received 306 applications," a spokesman for Hong Kong Innovation and Technology Commission said on Monday.

"The applications received by both sides will be considered separately by assessment panels drawn up by each side, with the participation of experts from the other side," the spokesman said.

A combined total of 520 million HK dollars (66.66 million US dollars) had been earmarked by the two sides to support projects approved under the scheme this year," he said.

Source: Xinhua