Know more about technology voucher

Websites, mobile apps, ERP enterprise resource planning, and POS sales systems are now indispensable for business operations. In order to encourage Hong Kong companies to use technology more, the Hong Kong Government Innovation and Technology Commission established the Technology Voucher Program (TVP) to subsidize companies. The ratio is 2/3 and the cumulative upper limit is 400,000; from April 1, 2020, the subsidy ratio will be increased to 3/4 and the cumulative upper limit is 600,000. The following is a simple example:

Suppose a company applies for project A and then project B, the cost of project A is 360,000 yuan, and the cost of project B is 300,000 yuan

Under the existing plan

  • Project A funding is 360,000 x 2/3 = 240,000, and the remaining 160,000 funding
  • Project B funding is 300,000 x 2/3 = 200,000, because the balance exceeds 160,000, so it can only be funded 160,000
  • A company received a total of 400,000 yuan in funding, with a total actual expenditure of 260,000 yuan and no funding balance

2020year4month1From day to day

  • Project A funding is 360,000 x 3/4 = 270,000, and the remaining funding is 330,000
  • Project B funding is 300,000 x 3/4 = 225,000. Since the balance of project B does not exceed 330,000, it can receive funding of 50,000
  • A company received a total of 50,000 in funding, the total actual expenditure was 165,000, and the funding balance was 105,000

The technology voucher program is already attractive, but it is even more attractive after the upgrade. If a company actually needs to upgrade its technology system, even if there is no technology voucher supplier, can also act as an intermediary consultant for technology voucher to help companies apply for technology voucher and complete the technology voucher project.


Problems faced by Hong Kong companies

  • Work requires a lot of manpower to handle, so that there is no immediate communication between departments, which reduces work efficiency
  • Departments are working independently, fail to integrate information and make business analysis difficult
  • Manual handling is easy to make mistakes, and it is very difficult to find the source of the mistakes
  • Human resource costs cannot be fully quantified, and calculation costs become complicated

The application of information technology is solving the above problems. Through system automation and information integration, it can not only generate real-time information, save manpower, reduce errors, so as to control costs and risks, and improve overall operating efficiency; at the same time, it is easier to use integrated tools to make business analysis. , To discover market demand and create business opportunities.


Technology Voucher Application Eligibility

  1. Hong Kong company (i.e. valid business registration or company registration in Hong Kong)
  2. Have actual business (i.e. MPF certificate has employment and income and expenditure certificates)
  3. Non-listed companies, government funding agencies or their affiliates

Please note that the applicant company must have substantive business, not a shell company, and the submitted application materials must be true and correct; anyone who deliberately submits false information to defraud government funding will be held criminally liable.


Technology Voucher Application Process

It is not complicated to apply for technology voucher, but a little carelessness will cause delay in the approval of the application and affect the progress of the technology voucher project. The following is the application process for TVP-hk technology voucher consultants to assist clients:

  1. Understand the basic information of the company, planned projects and budgets for preliminary evaluation
  2. Sign contracts with customers to provide formal technology voucher advisory services
  3. Assist customers in applying for technology vouchers
  4. The application is approved and the technology voucher project is launched
  5. Submit the final report and audit report after completing the project
  6. The report is accepted and the subsidy is directly deposited into the company’s account

TVP-hk has served more than one hundred companies. As long as the consultants recommend it, the technological system is expected to be upgraded.


Common technology voucher items

  • Enterprise Resource Planning (ERP) System
  • Booking and Queuing System Booking and Queuing System
  • Point-of-Sales (POS) System
  • Customer Relation Management (CRM) System
  • Human Resource Management (HRM) System
  • Website or e-Commerce Online Shop Website or e-Commerce Online Shop
  • Mobile Apps

Since the technology voucher will be increased in April, we expect that there will be a large number of applications submitted by then. To apply successfully and smoothly, we must first ensure that the documents are sufficient and justified to reduce the number of repetitions. At the same time, we must respond quickly to the Innovation and Technology Commission’s questions. TVP-hk Technology Voucher Consulting Company has rich experience, no charge if it fails. To learn more about technology voucher advisory services, please contact TVP-hk (+852 9867 6897)

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