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Smart Traffic Fund

Smart Traffic Fund

Background

In the 2019 Policy Address Supplement, the Chief Executive announced the setup of the Smart Traffic Fund (“Fund”) to provide funding support to local organisations or enterprises for conducting research and application of innovation and technology with the objectives of enhancing commuting convenience, enhancing efficiency of the road network or road space, and improving driving safety. $1 billion have been earmarked for the Fund, which commences operation in 2020-21.

 

Secretariat

The Transport Department has engaged the Hong Kong Productivity Council as the Implementation Partner to serve as the Secretariat for the Fund. 

 

Management Committee on Smart Traffic Fund

A Management Committee (“MC”) has been set up to vet and approve applications under the Fund and monitor the implementation of the Fund.  Please click here for the membership of the MC.

 

Scope

The Fund aims to provide support for enterprises or organizations to conduct research and application on vehicle-related I&T with at least one of the following objectives:

  • Enhancing convenience of motorists;
  • Enhancing efficiency of the road network or road space; and 
  • Improving driving safety.

The vehicle-related I&T projects to be funded should be in line with the relevant Government’s policies, including the Smart City Blueprint for Hong Kong or Smart Mobility Roadmap for Hong Kong for promoting smart mobility in Hong Kong.

 

Eligibility for Application

The Fund accepts applications from companies, research institutions, professional bodies, trade associations and non-government organisations. Applicants are categorised into public sectors and corporate sectors. Please refer to Guide to Application for details.

 

Subsidy Amount and Duration

The applicants shall contribute a certain percentage of the project cost as follows:

Types of Applicant Applicant's Contribution
(% of project cost)
Fund's Contribution
(% of project cost)
Public Sector at least 10% up to 90%
Corporate Sector at least 50% up to 50%

 

The funding ceiling for the two types of projects are set out below:

Types of Project Funding Ceiling
(per project)
Research and Application Project HK$ 20 million
Pure Research Project HK$ 8 million

 

Projects which are or will be in receipt of other public funding support will not be considered.

The duration of the project should normally not exceed 24 months. 

 

Application Time

Applications can be submitted all year round. Applicants are advised to check thoroughly their submissions and provide all required supporting documents to reduce the application processing time.

 

Assessment Criteria

Applications are assessed according to the following criteria:

  • Relevance to the Scope of the Fund;
  • Innovation and Technology Components; 
  • Technical and Management Capability;
  • Financial Considerations; 
  • Commercial Viability of Project Deliverables in Hong Kong/ Potential Application of Research Results in Hong Kong; and
  • Project Duration/ Programme

Please refer to the Guide to Application for details.

 

Project Monitoring

Once an application is approved, the Secretariat will monitor the project against the agreed project milestones and expenditure schedule.

Project Duration Submission of Interim Report (in standard pro forma) Submission of Progress Report (in details) Submission of Final Report
12 months or below - Progress Report to be submitted after the end of 6th month upon project commencement Final Report to be submitted upon project completion
More than 12 months Interim Report(s) to be submitted after the end of 6th month and 18th month upon project commencement Progress Report(s) to be submitted yearly after the end of the relevant 12-month periods Final Report to be submitted upon project completion

 

The applicant is also required to submit annual audited accounts and a final audited account until project completion.

The Secretariat will carry out on-site checking within the first 6 months upon project commencement on the applicant’s establishment and project progress. Any irregularities or non-compliance will be followed up by the Secretariat. Subsequent on-site checkings might be arranged within the project period, if considered necessary by the Secretariat.

 

Disbursement of Funds

The payment schedule for the Public Sector Research Institutions* is summarised below:

Project Duration Instalment Cumulative Cap
(% of the Fund's contribution)
More than 12 months Initial Payment
1st Interim Payment
2nd Interim Payment
Final Payment
40%
70%
95%
100%
12 months or below Initial Payment
Interim Payment
Final Payment
40%
95%
100%

 

The payment schedule for all applicants except the Public Sector Research Institutions* is summarised below:

Project Duration Instalment Cumulative Cap
(% of the Fund's contribution)
All Initial Payment
Interim Payment(s)
Final Payment
30%
70%
100%

* Public Sector Research Institutions mean Automotive Platforms and Application Systems R&D Centre, Hong Kong Applied Science and Technology Research Institute, Hong Kong Research Institute of Textiles and Apparel, Logistics and Supply Chain MultiTech R&D Centre, Nano and Advanced Materials Institute, and Local Universities funded by University Grants Committee.

 

Suspension or Termination of Funding Support

The MC and the Government reserve the right to suspend or terminate the funding support for an approved project. In case of termination, the applicant may have to return all / part of the funds disbursed by the Fund in respect of the project together with all administrative, legal and other costs and interest.

 

Application Submission

An electronic copy of the completed Application Form together with the required supporting documents as set out in the Guide to Application shall be sent to the Secretariat by email (Email Address: stf_sec@hkpc.org).

 

Frequently Asked Questions ("FAQs")

Please click here for FAQs.

 

Enquiries

Enquiries regarding the Fund can be addressed to the Secretariat of the Fund.
Address: HKPC Building, 78 Tat Chee Avenue, Kowloon, Hong Kong
Telephone: (852) 2788 5536
Fax: (852) 3187 4502
E-mail: stf_sec@hkpc.org

 

Application Form

Application Form

Guide to Application

Fact Sheet