The technology voucher plan will increase to 600,000 and 75% from April
The Budget 2020 will strengthen technology voucher funding. Effective April 1, 2020, the ceiling will be increased from 400,000 to 600,000, and the government funding ratio will be increased from two-thirds (66.7%) to three-quarters (75 %), you can apply up to 6 times. Looking back at the earlier appeals of various circles, the most people proposed to increase the funding limit to 600,000, and the surprise is to increase the funding ratio, because the technology voucher has been more subsidized than other funds (such as the BUD Special Fund or the EMF SME Marketing Fund). ) The common one-to-one ratio is high.Technology System SupplierAll welcome the relevant measures.
As applicants from April 1 can benefit from the new calculation method, our technology voucher consultants will teach the way that existing applicant companies should do to get the greatest discount, and predict future market changes accordingly. Existing applicants can be roughly divided into three categories:
- Companies planning to apply for technology voucher
- Companies that have been approved for technology voucher
- Companies waiting for the results of technology voucher applications
Companies planning to apply for technology voucher
The writing date is already in March. As long as you wait for less than one month, companies will be able to obtain a higher funding ratio. I believe that most companies that plan to submit applications in March will choose to apply in April. We also expect There will be a large number of applications in April.
Companies that have been approved for technology voucher
As for the companies whose applications have been approved, I believe they are already implementing the technology voucher project and it is impossible to cancel their applications. Therefore, the strategies of these companies are the same as before the budget announcement.
Companies waiting for the results of technology voucher applications
Whether such enterprises should cancel the applications they have submitted and apply again in April is the subject of our discussion. The technology voucher consultant believes that there are three decisive factors, that is, whether there will be plans to submit an application again in the future, the scale of the project, and the time when the application has been submitted. If you have already planned to apply again in the future and have responded to the questions of the Innovation and Technology Agency, if you cancel the application and re-enter the paper, the project will be delayed by at least 4 months (because the question has been answered, there is only about 2 months left before the successful application. It may take an additional 6 months if you re-enter the paper), and you have to respond to the question again. Since there are plans to apply again after the existing technology voucher program, we do not recommend canceling the application.
Conversely, there are no plans to apply for technology voucher in the future, nor have I received any questions from the Innovation and Technology Administration. The time and administrative cost for re-entering the paper are not high. Assuming that the applicant enterprise has not reached the upper limit of the accumulated subsidy, the government’s contribution has increased by twelve. One (75%-66.7%), for example, a 240,000 technology voucher project will receive an additional 20,000 yuan of funding. This kind of situation is attractive to re-entry.
As for other situations, the analysis should be based on the total additional 6 months required for re-entry and the time difference between the successful application, one-twelfth of the project’s funding and the administrative cost of responding to I&T’s questions to calculate whether the paper should be re-entered. Remember to cancel the application just for the difference in funding for the project. If the technology system can save a lot of costs, even the difference of a few months may not be compensated by the additional funding.
Market response to technology voucher applications
In the short term, we will wait until April to submit the application that was originally intended to be submitted in March to obtain more funding. In the long term, two types of demand will increase. One is companies that can enter the market due to increased capital leverage, and the other is companies that have already used up 400,000 funding. We believe that the Innovation and Technology Commission will increase its manpower to meet long-term needs. However, the speed of processing applications may slow down during the transitional period. In addition, the epidemic has caused many staff in the department to work at home, and the processing of technology voucher applications may be slow for some time. If the application documents are insufficient or need to be explained, it may take 1 to 2 months to process.
Since we have anticipated that short-term applications will take more time, if companies want toApply for Technology Voucher，More professional and experiencedTechnology Voucher AdvisorAssist, reduce the chance of application errors and explanations, and get the technology voucher subsidy in time. TVP-hk Technology Voucher Consultancy has assisted many companies in applying for technology voucher, no fees will be charged if it fails. For enquiries about technology voucher advisory services, please contact TVP-hk (+852 9867 6897)
