You need to be always conscious of the amount you are investing in your business. However, sometimes you need to invest to see the growth and development. Investments are needed for many purposes. It can be to build a good website, develop e-commerce solutions, or mobile apps. However, you can some funding support through the Technology Voucher Programme.
Technology Voucher Programme:
Do you know about the funding program, Technology Voucher Programme? The Innovation and Technology Commission (ITC) of the Hong Kong government offers funds to support businesses. This program offers funding to local small and medium enterprises. Businesses that use technological services and solutions to improve productivity will get funding. The program provides funding for a period of three years with HKD500 million.
If you think whether you are eligible for the Technology Voucher Programme, here are the basic application requirements:
Your business must be registered under the Business Registration Ordinance (BRO) (Cap. 310)
You must be running your business in Hong Kong viably for at least a year. Plus, your application must be relevant to your business activities during the time of application.
Only small and medium enterprises are eligible to apply. In other words, you must be employing less than 100 people, if you have a manufacturing business. Or, you must be employing less than 50 people, if you have a non-manufacturing business.
Before you apply for the Technology Voucher Programme, you must be aware of your contribution. The funding is offered on a 2:1 basis. In other words, the applicant must contribute one-third of the approved project in cash. The funding can be up to a maximum sum of HKD 200,000.00 in a single TVP project. Moreover, you can get funding for up to three projects if the cumulative funding dies not to exceed HKD 200,000.00 in total. Therefore, know about your role before applying to the funding program.