Applied Research Fund

The Applied Research Fund (ARF) is a venture capital fund to support technology ventures undertaken by local companies. Key features include:

• The Fund is managed by private-sector venture capital firms. The fund managers would assess the technical and commercial viability of proposed technology ventures. They would also determine the terms of the Fund's investment in a company.
• The company would hold all intellectual property rights arising from the project.

The ARF is a government owned venture capital fund of $750 million set up in 1993 to provide funding support to technology ventures and research and development projects that have commercial potential. The longer term aim is to increase the technology capability and to enhance the competitiveness of local industry, thereby promoting high value added economic development in Hong Kong. The ARF is controlled and administered by the Applied Research Council (ARC), a company wholly owned by the Government and formed specifically for this role.

Starting from November 1998, private sector venture capital firms were engaged to manage the ARF. The fund managers would assess the technical and commercial viability of proposed technology ventures. They would also determine the terms of the Fund's investment in a company. Suitable investment proposal would be brought up to the Board of Directors of ARC for Public Mission Vetting.

• List of Applied Research Council's Board of Directors

  The Applied Research Council Board of Directors

  Chairman
  Mr Wong Chi Kwong, Patrick

  Deputy Chairman
  Ms Koo Chi Sum, Sammy

  Directors
  Miss Wong Wai Kei, Vicky
  Mr Lee Kwok Bun, Ivan, Commissioner for Innovation and Technology*

  Alternate Director*
  Mr Har Mung Fei, Philip, Deputy Commissioner for Innovation and Technology

• Information Paper on the Applied Research Fund
• Annual Report and Financial Statements of the Applied Research Council

• List of investments supported by the Applied Research Fund after the engagement of fund managers in November 1998
• List of investee companies which received funding before November 1998