Calendar 2016–17

8 Part 1 • General Information Part 1 The CUHK Pre-Incubation Centre (Pi Centre), established in early 2014, provides workspace, facilities, development and mentorship support to successful CUHK student applicants from all disciplines. Since its inception, the Pi Centre has admitted 33 student teams, 13 of which have already graduated to advanced incubation programmes outside the campus. Meanwhile, the Technology Start-up Support Scheme for Universities (TSSSU), funded by 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 in late 2014, the TSSSU has supported 25 startup companies with more than HK$11 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 to benefit the society. CUHK’s mentorship service has facilitated discussions between TSSSU startups and investors. Some startups have secured significant funding as a result. Finance Funding from the Hong Kong SAR government is the main source of income and constitutes 55% 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$8.1 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.