The Innovation Fund supports doctoral and master's students at Huazhong University of Science and Technology. In principle, graduate students who have entered the final academic year of study will not be considered (except for master's students who have been recommended to the university and plan to continue studying for a doctoral degree).

The school’s in-service postgraduate students are not included in the scope of funding, but in-service postgraduate students who have passed the examination and are teaching at China University of Technology can apply for this fund as applicants.

Research and development projects should set up a project team, which generally consists of 3 to 5 people. A project team leader must be appointed when applying for the fund, as the direct bearer of the rights and obligations of the project in the process of cooperation with the Innovation Fund.