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“BUD Fund - Enterprise Support Programme” Quarterly Update (October 2015)

The Enterprise Support Programme of the Dedicated Fund on Branding, Upgrading and Domestic Sales (the BUD Fund) has processed a total of 1,011 applications up to 13 October 2015, amongst which 349 applications were approved/granted conditional approval (around 35%). The total amount of funding approved is about $157 million.

The grantees come from various industries including watches and clocks, and jewellery; electronics; electrical appliances; textiles and clothing; plastics; toys; metal products; machinery; food and beverages; wine; cosmetics; IT; logistics; creative industries and professional services.

For example, in the electronics industries, the Programme has until now committed funding support to 24 enterprises amounting to over $11.5 million. The approved projects are very diversified in nature. They include R&D of hi-tech products such as mobile app-controlled home LED lighting system, cloud-compatible networked security system for building management, tracking system, and wireless charger; recruitment of technical/product design staff and purchase of automation systems and testing equipment for new product development; and hiring of experts for Mainland shop design, rebranding and setting up an online store.

Since August 2015, the Enterprise Support Programme launched the additional “ESP Easy – Simplified Application Track” (“ESP Easy”). Enterprises can make use of “ESP Easy” to apply for funding to implement specified measures which could effectively assist them in enhancing their competitiveness in the Mainland and developing the Mainland market. In just about a month’s time, up to the end of September 2015, “ESP Easy” has received a total of 29 applications.

To help Hong Kong enterprises develop the Mainland market, the HKSAR Government introduced in June 2012 the $1 billion BUD Fund. It aims to assist enterprises in enhancing their competitiveness and furthering business development in the Mainland through developing brands, upgrading and restructuring operations and promoting domestic sales.

The BUD Fund comprises two programmes, “Enterprise Support Programme” and “Organisation Support Programme”, providing funding support to eligible enterprises and non-profit distributing organisations respectively. The Hong Kong Productivity Council (HKPC) is the Secretariat of the Enterprise Support Programme.

Applications for the Programme are accepted all year round with vetting being held every three months. The next cut-off time for applications will be December 31, 2015.

For more information, please visit the programme website: www.bud.hkpc.org; or contact the Secretariat at tel.: (852) 2788 6088 or email: bud_sec@hkpc.org. For other media enquiries, please contact Felix Chan of HKPC’s Corporate Communication and Marketing Division at tel.: (852) 2788 5036 or email: felixchan@hkpc.org.

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Mr Jonathan Ho
General Manager
Corporate Communication and Marketing
Tel: (852) 2788 6390
Fax: (852) 2788 5056
Email: jonathanho@hkpc.org
Website: www.hkpc.org

14 October 2015

“BUD Fund - Enterprise Support Programme” Quarterly Update (October 2015)