Macao's Science and Technology Development Fund has provided a total funding of 20.8 million patacas (2.6 million USD) for 23 approved projects this year, the Macao Post Daily reported on Thursday (Oct 29).

Only those projects with innovative ideas, scientific goal, reasonable budget and a capable project team will be approved for funding, the daily quoted Tong Chi Kin, president of the government-run fund, as saying.

He also said that there were less research projects on traditional Chinese medicine this year than the previous two years, and most of the projects supported by the Fund were being carried out by local universities.

As part of the government's effort to enhance the level of local education and research of science and technology, the Fund was founded in May 2004, which was directly overseen by the chief executive of Macao Special Administrative Region (SAR).

According to Tong, a total of 177 million patacas (22 million USD) in funding have been provided for 146 projects since the fund's establishment.

Editor: Miranda