TVP Funding is a program launched by the Hong Kong government which was launched to support enterprises or organizations in using technological services and solutions to increase productivity or upgrade the business proceedings.
The TVP Funding Programme aims at supporting the local businesses to use the latest technological services and solutions to improve productivity and upgrade their business to maintain constant competitiveness among the companies throughout the long run.
According to the eligibility criteria set by the government, businesses which want to apply for the TVP funding program must fulfill the following requirements:
Registered in Hong Kong under the Business Registration Ordinance (Cap.310) (“BRO”); or
Incorporated and registered in Hong Kong under the Companies Ordinance (Cap. 622); or
Established in Hong Kong by relevant ordinance as statutory bodies: and
Other than these requirements, your business has to fulfill one more category. That one is your company can’t be a listed company in Hong Kong and also it can’t be a government subvented organization or a subsidiary of any government subvented organization. This means that if your company is one of those companies that receive subvention from the Hong Kong government on a recurrent basis, you are not eligible to apply for the program.
Also, your business must be related to the substantive business operation in Hong Kong, which is related to the project under application at the time of application. A company holding a “shell” business registration will not be regarded as having a substantive business operation in Hong Kong.
If you want your company to be eligible for the program, you have to meet all the above requirements. Once you become eligible for the program, you will be getting funding up to HK$600,000. Each of the projects should be completed within 12 months, as per the rules.