Good news: TVP enhancement
The Financial Secretary suggests to enhance the Technology Voucher Programme (TVP) in his Budget 2020/21. From April 1st 2020, the cumulative fund ceiling will increase to $600,000, the Government funding ratio will increase to 75% and the maximum number of application will be 6.
What is TVP?
The Technology Voucher Programme was launched by the Innovation and Technology Commission (ITC) in 2016 as a pivot basis and became regular in February 2019. The maximum funding for each eligible enterprise is HK$400,000. In general, the ITC will reimburse the subsidy after the project completed. From 1st Dec, 2019, successful applicants will get 25% of the subsidy and they should fund the same amount to kick off the TVP project. The ITC will reimburse the remaining 75% to the enterprise once the project completed.
The scope of the TVP
The TVP aims at funding running business to apply IT solution to enhance operation efficiency. Current pnetform projects supported by the TVP fund are:
- Website content management system
- e-Commerce system
- Customer relation management system
- O2O solution
The eligibility of the TVP
- Running non-listed enterprises with business registration; or
- Running organization without government subsidy
The committee of the TVP will consider the following for approval:
- The reasonableness of the budget and the implementation of the project
- Relevance between the project and the business
- Any adverse record of the vendors