Do you want to get the TVP funding for your business? Well, you must know that you aren’t the only one who wants the funding. Just like you, many entrepreneurs want it to improve their IT infrastructure too. So, how can you get the funding?
The actual purpose of the TVP funding is for the development of a new company website, an online shop, or an e-commerce platform. However, the businesses with only websites, online stores, or platforms, might not get the TVP funding. This is because these businesses can’t guarantee sales. Therefore, the Innovation and Technology Commission (ITC) has decided to provide the TVP funding only to an experienced consultant. That’s why your business must be an HK company. Moreover, it has been doing business for more than one year.
Start the TVP Funding:
Other than the criterion mentioned earlier, a Hong Kong company needs to go through five main steps of selection.
Step 1: Prepare the needed documents for the application and then submit the application.
Step 2: Provide the relevance and reasoning of your business for the TVP funding.
Step 3: Notify the applicant about the result of the selection process and sign the agreement, if selected.
Step 4: Start your project after receiving the funding. You need to complete the project within twelve months.
Step 5: Make and submit the final project report after completion of the project. Also, you must provide proof of deliverables (of the project). Plus, you need to provide the final statement of the expenditure.
Well, the start-ups can also get the funding. However, these start-ups may get the TVP funding with some common methods, like:
Bootstrapping: Spend your personal saving or money from your pocket.
Friends, families, and relatives
Venture capitalists (VC)