For SMEs wishing to enhance their competitiveness but without the necessary financial capital to do so, government funding schemes are here to help with the Technology Voucher Programme (TVP) the latest offering. Established by the Innovation and Technology Fund in November 2016, TVP aims to subsidise local SMEs in using technological services and solutions to improve productivity, or upgrade or transform their business processes.
What is TVP?
TVP will operate for an initial period of three years with HK$500 million from the Innovation and Technology Fund. Cumulative funding up to HK$200,000 for up to three projects will be provided on a 2:1 matching basis for each eligible SME which, in turn, must contribute no less than one third of the total approved project cost in cash.
Examples of Funding Amounting
Coverage of funding:
- Technology Consultancy;
- 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; and
- Project auditing (The maximum audit fee to be counted towards the total project cost is HK$3,000)
For technological services or solutions covered by TVP, please contact us.