Calendar 2015–16

8 Part 1 • General Information Part 1 the Innovation and Technology Commission (ITC), encourages both faculty members and students to start technology businesses and commercialize R&D results. Since the inauguration of the scheme, the TSSSU has supported 16 startup companies with about HK$7 million. To complement this scheme, CUHK offers mentorship and training workshops, and connects TSSSU companies to resources such as the Science Park, accelerators, and investors. Through TSSSU, the University’s intellectual property is translated into products and services that meet the needs of society. ORKTS has also provided financial support for establishing a CUHK Investor Network to facilitate funding opportunities for projects with high potential. Matching sessions between entrepreneurs and investors are organized periodically. Finance Funding from the Hong Kong SAR government is the main source of income and constitutes 53% of the University’s revenue for capital and recurrent expenses. Income from tuition, programme and other fee, being the next important source of revenue, accounts for about 25% of total income. In addition, the University and its constituent Colleges have endowment funds at their disposal and also receive financial support from private donors for research and other designated purposes. The annual total income for the University is about HK$8 billion. Negotiations between the University and the government are conducted through University Grants Committee, which is the committee advising the government on the financial requirements of the University.