The funding results of the third round of the University Grants Committee's Areas of Excellence scheme has been announced.

On the advice of the Areas of Excellence Sub-Committee, the following two proposals will be funded a total of $95 million over five years:

* Developmental Genomics & Skeletal Research at the Science & Technology, Polytechnic and HK Universities - $50 million earmarked; and,

* Centre for Marine Environmental Research & Innovative Technology, run by the City, Science & Technology, Chinese, Baptist, Polytechnic and HK Universities - $45 million earmarked.

Announcing the results, Committee Chairman Dr Alice Lam said she was particularly glad to see the two projects involve extensive collaboration across many institutions.

In the face of budget stringency, the committee sees it imperative to further develop and bolster collaboration across the whole sector in the interests of creating critical mass to achieve international excellence.

The committee received 41 initial proposals from its eight funded institutions in the third round. Evaluation was undertaken by review panels composed of predominantly overseas experts from relevant fields.