The Hong Kong Jockey Club Music and Dance Fund was set up in 1980 with a donation of $10 million from the Hong Kong Jockey Club for the promotion and development of music and dance. It is a non-statutory trust fund, administered by a board of trustees. In 1994, the Jockey Club injected a further $22 million into the fund to meet the increasing demand for support.

The fund awards scholarships to enable young people to pursue an integrated programme of post-diploma/post-graduate studies or professional training in music or dance at leading institutions or undertake less formal studies, projects or creative work outside Hong Kong.

During the year, the fund awarded six scholarships worth about $3 million.