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Government Funding Schemes Application
We are a comprehensive IT consulting team. We can assist you in applying for Hong Kong government funding programs. We help SMEs to apply for various government funding programs, including TVP Technology Voucher Program and BUD Special Fund Application.
Let Elufa help you navigate the government funding application landscape and simplify the workflow for you.
Contact UsLet Elufa help you navigate the government funding application landscape and simplify the workflow for you.
The Technology Voucher Scheme was launched by the Hong Kong Government's Innovation and Technology Commission in November 2016. The main purpose of the government funding is to support Hong Kong SME to adopt technological services and solutions to meet the needs of digital transformation, increase, upgrade and transform their business processes and improve productivity, thereby maintaining the overall long-term competitiveness of SMEs in Hong Kong.
As of the end of February 2021, the TVP program had received a total of 9,562 applications in about three years. Among the reviewed TVP applications, 94% of the eligible projects were successfully approved.
As of the end of February 2021, the TVP program had received a total of 9,562 applications in about three years. Among the reviewed TVP applications, 94% of the eligible projects were successfully approved.
Key Features
Provide funding for projects on a 3 (Government): 1 (enterprise/organization) matching basis.
- Cumulative funding ceiling per organization (From April 2020): HK$600,000
- Up to 6 projects per enterprise/organization
- The implementation period of the application project is up to 12 months
- Cumulative funding ceiling per organization (From April 2020): HK$600,000
- Up to 6 projects per enterprise/organization
- The implementation period of the application project is up to 12 months
Eligibility
Local entities (except listed companies) that meet the following conditions are eligible for TVP government program for SME development:
- (a)(i) Registered in Hong Kong under the Business Registration Ordinance (Chapter 310); or
- (a)(ii) A company incorporated and registered in Hong Kong under the Companies Ordinance (Chapter 622); or
- (a)(iii) Established in Hong Kong by relevant ordinances as a statutory body; AND
- (b) Not a government-funded agency* or an affiliate of any government-funded agency*; AND
- (c ) has substantial business operations in Hong Kong when the TVP application is submitted, and the business must be related to the application project.
TVP Funding Scope
- Technology Consultancy Services - Applicants can engage technology consultants to provide external advisory services for their proposed projects. The consultants must be local organizations, research institutions, or companies/organizations registered under the Business Registration Ordinance in Hong Kong.
- Purchase, Rental, or Subscription of Customized Equipment/Hardware, Software, and Technology Services or Solutions
- Generally, the cost of these equipment/hardware/software/services or solutions should not exceed 50% of the project cost.
- TVP funding is not applicable for daily expenditure
- Project Audit (Applicable to projects approved for funding exceeding HK$50,000): However, the maximum audit fee included in the total project cost is capped at HK$3,000.
Required document for TVP application
- Copy of Business registration certificate
- Certified copy of Form NAR1 of the Company Registry
- Copies of supporting documents of substantive business operation in Hong Kong ((invoices/receipts issued within the last three months before submission of application)
- Copy of Hong Kong identity document of the person applying TVP (signing person)
- Signed a good faith and non-collusion of quotation/tender certificate
- Copy of three different IT company quotation
- Copy of quotations for all expenditure items
- Completed TVP application form
The BUD (Dedicated Fund on Branding, Upgrading and Domestic Sales) is a government initiative introduced in Hong Kong to support local enterprises in their branding, upgrading, and domestic sales efforts. The fund aims to enhance the competitiveness of Hong Kong businesses by providing financial assistance and resources to help them expand their market presence in the Mainland and designated regions with which Hong Kong has signed Free Trade Agreements (FTAs) and Investment Promotion and Protection Agreements (IPPAs). By facilitating brand building, business upgrading, and domestic sales expansion, the BUD fund plays a crucial role in driving the growth and success of enterprises in Hong Kong to improve their product or service offerings and explore new business opportunities locally, as well as in the Mainland, FTA, and IPPA markets.
The BUD Fund requires applicant enterprises to carry out thorough research of the target market, devise feasible projects, and implement the projects by themselves upon approval. The BUD Fund hopes to help SMEs expand in their target markets with their own capabilities, while the majority of other funding schemes allow outsourcing project implementation to third parties.
The BUD Fund requires applicant enterprises to carry out thorough research of the target market, devise feasible projects, and implement the projects by themselves upon approval. The BUD Fund hopes to help SMEs expand in their target markets with their own capabilities, while the majority of other funding schemes allow outsourcing project implementation to third parties.
Key Features
- Funding is provided up to 50% of the cost
- Funding ceiling per project for each approved "Easy BUD" application: HK$100,000
- Funding ceiling per project for each approved general application: HK$1 million
- The cumulative funding ceiling per enterprise under the BUD Fund is HK$ 7 million
- Each funded project of “General Application” should be completed within 24 months
- Each funded project of “Easy BUD” should be completed within 12 months
- Each enterprise is entitled to a maximum of 70 approved projects
- Funding ceiling per project for each approved "Easy BUD" application: HK$100,000
- Funding ceiling per project for each approved general application: HK$1 million
- The cumulative funding ceiling per enterprise under the BUD Fund is HK$ 7 million
- Each funded project of “General Application” should be completed within 24 months
- Each funded project of “Easy BUD” should be completed within 12 months
- Each enterprise is entitled to a maximum of 70 approved projects
Eligibility
All non-listed enterprises registered in Hong Kong under the Business Registration Ordinance (Chapter 310) with substantive business operations in Hong Kong are eligible to apply.
Type of Projects
Any projects falling within the scope of the Programme (i.e. any one or more areas of (i) branding; (ii) upgrading and restructuring; and (iii) promoting sales) that assist individual Hong Kong enterprises in enhancing their competitiveness and facilitating their business development in the Mainland or the FTA and IPPA markets are eligible for applying for funding support under the Programme. There are two types of eligible projects:
Type (i)
Project Applications Develop Holistic Business Plans
Project Applications Develop Holistic Business Plans
Projects that involve the engagement of qualified service providers by the applicants to develop holistic business plans in the areas of branding, upgrading and restructuring, and/or promoting sales for the applicants to enhance their competitiveness and facilitate their business development in the Mainland and the FTA and IPPA markets.
Type (ii)
Project Applications Implementation of Specific Measures
Project Applications Implementation of Specific Measures
Projects that involve the implementation of specific measures in the areas of branding, upgrading and restructuring and/or promoting sales by the applicants themselves to enhance their competitiveness and facilitate their business development in the Mainland and in the FTA and IPPA markets.
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