The Innovation and Technology Commission (ITC) of Hong Kong has come up with this unique funding program called the Technology Voucher Programme (TVP). This TVP funding is launched to help the start-ups and entrepreneurs start their businesses successfully.
So, if you are wondering about the assessment criteria for the TVP funding, then this article is for you. You should continue reading to know the details.
The relevance of the proposed project to the applicant’s business: The project must have some good prospects of enhancing its competitiveness through improving productivity, cost reduction or efficiency enhancement, upgrading, improving, or transforming business processes.
Reasonableness of the budget: The applied assessment must have some reference to market prices of the technologies in question as known to the Committee or the ITC committee will be made. The individual items of the expenditure must be important and have some relevance to the implementation of the project.
Reasonableness of the implementation details: The implementation details of the applied project to the TVP funding is also important. The consideration may include whether concrete project deliverables and outcomes have been set. The implementation details should be realistic and consider the account factors like the complexity of the technology and the project duration.
Adverse record of the consultants and/or service provider(s): The adverse record of the consultants and the service provides as known to the Committee and the ITC, if available.
The Committee or ITC will decide whether a project is worth the support or not. The level of funding may be adjusted with reference to the project cost approved by the Committee. If your project fits all the norms of the project of the TVP funding, then you can get the fund.