“BUD Fund - Enterprise Support Programme” Latest Update - “ESP Easy” Extends Support to Mobile Apps and Advertising Project

The Enterprise Support Programme of the Dedicated Fund on Branding, Upgrading and Domestic Sales (the BUD Fund) launched the additional “ESP Easy – Simplified Application Track” (“ESP Easy”) in August last year. Up to 30 June 2016, it has processed a total of 186 applications, among which around 89% (166 applications) were approved.

To strengthen support to enterprises, since July, “ESP Easy” has expanded the funding scope to include the development or improvement of mobile applications, and placement of advertisements directly related to the projects in the Mainland, while the matching funding ceiling for each “ESP Easy” project has also been raised from $170,000 to $200,000.

Overall, the Enterprise Support Programme has processed a total of 1,397 applications up to end of June this year, among which 640 applications were approved/granted conditional approval (around 46%). The total amount of funding approved is about $240 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; information technology; logistics; creative industries and professional services.

For example, in the plastics industries, the Programme has until now committed funding support to projects of very diversified nature. Notable examples include the development of more environmental-friendly plastic products and the adoption of related technologies such as the use of degradable or recyclable materials; and the hiring of product design staff, and creating original branded designs to achieve the business transformation from original equipment manufacturing (OEM) to original brand manufacturing (OBM) mode of operation.

To enable more local plastics companies to benefit from “ESP Easy”, the Programme will organize two seminars on August 19 and September 20 with the Hong Kong Plastic Machinery Association. Free on-site advisory services will be available to support companies in lodging “ESP Easy” 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 30 September.

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 Chloe Chau of HKPC’s Corporate Communication and Marketing Division at tel.: (852) 2788 6158 or email: chloechau@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

9 August 2016