Enhanced funding arrangements for Technology Voucher Programme (TVP)

1 April 2020

 

Launched by the Innovation and Technology Fund (ITF), TVP aims to subsidise non-listed enterprises and local small and medium enterprises (SMEs) in using technological services and solutions to improve productivity, or upgrade or transform their business processes.

 

Under the Budget 2020-21, the Hong Kong Government announced to enhance the TVP with effect from 1 April 2020.

 

 

Since 1 April 2020

Before 1 April 2020

Funding ratio

3/4 (75%)

2/3 (66.66%)

Funding ceiling

HK$600,000

HK$400,000

Max. no. of approved projects

6

4

 

In order to ensure the project funds have been solely and properly applied to the project and expended in accordance with the approved budget, an audited statement of income and expenditure shall be required and audited by an independent Certified Public Accountant (Practicing).

 

The audited statement of income and expenditure shall be submitted to the Innovation and Technology Commission (ITC) within two months after the completion of the TVP project for the disbursement of the final payment.