The "1+1+1" joint seed fund pool was officially launched in September. Under the scheme, which will run from 2024 to 2026, each party will contribute annually: The Ministry of Science and Technology with RMB 10 million, and UIC and HKBU with no less than RMB 10 million and HKD 10 million, respectively. The cumulative seed fund over the three years will be approximately RMB 90 million.