As announced in the 2020-21 Budget, the Government will further enhance the Technology Voucher Programme with effect from 1 April 2020 to further assist enterprises in making use of technology to improve their business operation and enhance their competitiveness. The Government’s funding ratio in each approved project will be raised from two-thirds to three-quarters. The funding ceiling will be increased from $400,000 to $600,000 and the maximum number of approved projects per applicant would be increased from four to six.

What is TVP?

TVP supports projects in the form of technological services and solutions which could improve productivity, or upgrade or transform the business processes of the applicant.

The TVP aims to subsidise local Hong Kong companies on the use of technological services and solutions to improve productivity, or upgrade or transform their business processes, in order to enhance their long-term competitiveness.

The program has now been incorporated into the constant funding scheme of the Innovation and Technology Fund, with the amount of funding ceiling per applicant being increased to HK$600,000 and the eligibility of the program expanded to cover all non-listed local enterprises of all sizes instead of just SMEs only.

The purpose of the BUD Fund is to assist Hong Kong enterprises in undertaking projects to develop brands, upgrade and restructure their business operations and promote sales in the Mainland / ASEAN markets. 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, irrespective of whether they belong to the manufacturing or service sector or whether they already have any business operations in the FTA markets and the Mainland China.

Objective

To provide funding support to individual Hong Kong enterprises in undertaking projects to develop brands, upgrade and restructure their business operations and promote sales in the FTA markets and Mainland China market, so as to enhance their competitiveness and facilitate their business development in the FTA markets and Mainland China market.

Objective

To provide funding support for retail enterprises to adopt technologies for manpower demand management purposes and help to enhance productivity.

To facilitate project implementation by grantees, the minimum requirement for written quotations for procurement or lease of equipment, goods or services under ReTAAS projects from over HK$50,000 to HK$300,000 (aggregate value) will be reduced from five quotations to three quotations with effect from 15 November 2017.

What is PRP?

PRP, which merges the University-Industry Collaboration Programme (UICP) and the collaborative stream of Innovation and Technology Support Programme (ITSP), was launched in January 2019. PRP aims to support research and development (R&D) projects undertaken by private companies in collaboration with local universities and public research institutions.

PRP provides matching funding support for approved projects. The maximum project duration is 3 years. Applications for PRP are open all year round.

What is ESS?

• 1) It is a major funding initiative under the Innovation and Technology Fund (ITF), which is designed to encourage the private sector to invest in research and development (R&D).
• 2) Funding support of each approved project is up to HK$10 million and will be provided on a dollar-for-dollar matching basis.
• 3) Project period should generally not be longer than 2 years.
• 4) The funding recipient company will own all intellectual property rights arising from the project.
• 5) Recoupment of Government's contribution is not required.
• Benefit-sharing of commercialised R&D results would be non-mandatory.

The Financial Secretary proposed to set up a HK$1 billion Construction Innovation and Technology Fund (CITF) to boost the capacities of enterprises and practitioners in the construction industry. The Development Bureau of the Hong Kong Special Administrative Region Government (DEVB) commissioned the Construction Industry Council (CIC) to be the implementation partner.

Technology Adoption

The CITF will be used to support technologies (including machinery, equipment and software) with proven effectiveness in boosting productivity, uplifting built quality, improving site safety or enhancing environmental performance, through leveraging automation, industrialization and digitization rather than sheer innovative management practices.

What is Pilot Information Technology Development Matching Fund Scheme?

• Promote the adoption of information technology among SME-sized travel agents for upgrading their productivity and service quality, as well as strengthening their competitiveness in the local or overseas market. Applicable for small and medium sized travel agents (employing fewer than 50 persons in Hong Kong) holding a valid travel agent’s licence under the Travel Agents Ordinance (Cap. 218) with substantive travel agent business in Hong Kong

Innovation and Technology Fund for Application in Elderly and Rehabilitation Care

• The “Innovation and Technology Fund for Application in Elderly and Rehabilitation Care” (I&T Fund) has been set up in December 2018 to subsidise elderly and rehabilitation service units to procure, rent and trial use technology products, so as to improve the quality of life of service users as well as reduce the burden and pressure of care staff and carers.

Innovation and Technology Fund for Better Living

• The Innovation and Technology Fund for Better Living ("FBL") is a scheme for funding innovation and technology ("I&T") projects which will make people's daily living more convenient, comfortable and safer, or address the needs of specific community groups. The FBL with a funding size of HK$500 million is expected to operate for 5 years with effect from 2017-18.

What is PSTS?

PSTS provides funding support for production of prototypes/samples and conducting of trial schemes in the public sector to facilitate and promote the realisation and commercialisation of R&D results under ITF projects.

The prototypes/samples and the trial schemes should aim to facilitate the development of new products not already available in the market currently, and employing the R&D results/deliverables of the completed ITF projects.

The maximum ITF grant would be $1,000,000 for each application.

What is D-Biz?

As affected by the epidemic, which is having an impact on everyone worldwide from businesses to students. However, there are risk and opportunities and with e-commerce and technology, this could be a game changer for any businesses. Innovative technology is not only used for epidemic prevention and anti-epidemic, but also the key to helping businesses to create new ways to survive the epidemic.

The second round of anti-epidemic and anti-epidemic funds, launched a six-month, 500 million HKD "Distance Business Programme" (D-Biz), through express approval, to help companies use innovation and technology during this period, in order to develop remote business, create new value, new capabilities, and new opportunities, turning crisis into opportunity.

For example, for any retail store which is suffering from the epidemic, can use this scheme to develop e-commerce; The catering industry has been hit hard can use this subsidies to develop online takeaway catering services; The education center can open online courses; The clinic can be set up for online consultation. As long as it is a technology application that helps business to survive the epidemic remotely, whether it is to set up online stores, conduct e-marketing, strengthen cybersecurity, or facilitate remote file management at home or for remote document management, remote team management, virtual meeting, etc., these projects will fully subsidize the cost of purchasing and adopting technology solutions and all related training. Each program, together with training expenses, can be funded up to 100,000HKD, and each company (except listed companies, statutory institutions and non-governmental organizations that receive public funds) can receive a maximum of 300,000HKD in total funding.

The Productivity Council will act as the secretariat of this scheme and adopted a quick approval method. After the application materials and required documents are available, the application results can be notified in about 10 working days. The plan will start accepting applications in May.