TVP aims to subsidize local small and medium enterprises (SMEs) in using technological services and solutions to improve productivity, or upgrade or transform their business processes. The programme will be implemented on a pilot basis for an initial period of three years from November 2016 with HK$500 million from the Innovation and Technology Fund.
Who are eligible to apply?
An enterprise will be eligible to apply if:
- it is registered in Hong Kong under the Business Registration Ordinance (BRO) (Cap. 310);
- it has at least one year of substantive business operation in Hong Kong which is related to the project under application at the time of application; and
- it fulfills the Government’s definition of SMEs, i.e. manufacturing businesses employing fewer than 100 persons in Hong Kong; or non-manufacturing businesses employing fewer than 50 persons in Hong Kong.
What kind of projects will be funded by 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 enterprise. A list of typical technological services and/or solutions covered by TVP is at Annex B of the Guidance Notes for Applications. Applicant enterprises are welcome to propose other technological services and solutions which could achieve the objectives of TVP. For funding support under TVP, prior approval must be obtained before project commencement.
How can I use the funds from TVP?
The approved funding from TVP can be used to cover the following:
- Technology Consultancy – the applicant enterprise may engage a technology consultant to provide external consultancy for conducting the project under application. The consultant must be a local organization/research institution, or a company/organisation registered in Hong Kong under the BRO.
- Purchase, rental or subscription of customised equipment/hardware, software and technological services or solutions that form an essential part of the project.
- Purchase, rental or subscription of off-the-shelf/readily available equipment/hardware, software and technological services or solutions that form an essential part of the project. In general, the costs of such equipment/ hardware/ software/ services or solutions should constitute no more than 50% of the project cost.
- Project auditing for projects with approved funding exceeding $50,000. The maximum audit fee to be counted towards the total project cost is $3,000.
Normal business operating costs will not be funded under TVP.
What is the funding amount?
Funding up to $200,000 for each eligible enterprise will be provided on a 2:1 matching basis. The applicant enterprise must contribute no less than one third of the total approved project cost in cash. Subject to the cumulative funding ceiling of $200,000, up to three projects from an enterprise may be approved. To ensure proper focus on project implementation, an enterprise is not allowed to undertake more than one TVP project at the same time. Expenditure items under an approved TVP project shall not receive funding support from other local public funding sources.
Is there any restriction on the project duration?
Each project should normally be completed within 12 months.
How to apply for funding?
A. Submit application with required documents:
- Register as a user and submit its application through the Technology
- Voucher Programme Funding Administrative System (https://tvp.itf.gov.hk).
- Copy of Business Registration (BR) Certificate, copy of Form 1(a) of BR
- Office or Form NAR1 of Companies Registry
- Evidence of substantive business operation
- Copy of identity proof of signatory on application form
- Copy of BR Certificate of technology consultant
- Copy of quotations for expenditure items
B. Assessment of Application
- Relevance to business of the applicant
- Reasonableness of budget and implementation details
- Adverse record of technology consultant and / or service provider(s)
C. Notification of Result
- Successful application to sign a funding agreement with ITC before project commencement
D. Project Implementation
Project to be completed within 12 months, submit final project report
E. Disbursement of Funding
- Applicant enterprise should submit the following documents within 2
- months after completion of the TVP project:
- A final project report
- Evidence of deliverables
- Original or copy of receipt(s) certified by the applicant enterprise in relation
- to the payment for each expenditure item
i) if the approved funding exceeds $50,000, an audited statement of
expenditure for the project from an independent auditor is required to be
submitted to ITC.
ii) if the approved funding is HK$50,000 or below, applicant enterprises are
required to submit a final statement of expenditure and declare the final
statement of expenditure.
- Funding on no more than two-thirds of the actual cost of a project
EFAITH provided technology solutions
A. Software Development Solution
- Website/Intranet/Online Trading System/Online Shop
- Tailor Made Application and Operation System
- Tailor Made Mobile APPS and Mobile Website
B. IT Audit and Consultancy
- Assurance, Attestation & Readiness Services
- IT Organization & Business Systems Effectiveness
- Business Continuity Management (BCM)
- IT Process Management
IT Security & Privacy Management
EFAITH One-Stop Consulting Service
Throughout the Technology Voucher Programme process, EFAITH is able to provide one-stop service, our professional team of consultants are able to select appropriate solutions and to assist your company in handling the application, and project manager to manage the project process to ensure the completion time within 12 months, for quickly obtaining government grants.
If you are interested in EFAITH SME solution or TVP, please contact our professional during the office hour or fill in the below form, we will reply you as soon as possible.
Service Hotline: +852 2175 0755
Support Hotline WhatsApp： +852 5483 9525
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