Technology Voucher Application Process and Eligibility
Can I apply for technology voucher?
Both non-listed companies (including limited and unlimited companies) and non-government-funded institutions can apply for technology voucher funding, and have substantial business operations in Hong Kong at the time of submission of the application, and the business must be related to the application project.
How to apply for technology voucher
Submit sufficient documents through the technology voucher website, and answer questions from the Innovation and Technology Commission when needed, and the proposed project must also comply with the approval principles
Do I need a technology voucher consultant?
The assistance of technology voucher consultants can reduce the time cost and the risk of failure, which is the most cost-effective method
How to apply for technology voucher?
TVP-hk.comOf technology voucher consultants are familiar with the application procedures of technology voucher to improve the chances of applying for success and reduce the risks faced by enterprises
01. Submit application documents for technology voucher
- Register as a user in the exclusive system of the Technology Voucher Program
- Prepare required documents, generally including but not limited to a copy of business registration certificate, proof of actual business, expense quotation, etc.
- Related quotations for the proposed project
02. Review of applications by the Innovation and Technology Administration
- Whether the project is relevant and commensurate with the business of the applied SME
- The reasonableness of various budgets and execution details
- Past records of technology consultants and technology voucher providers
03. Promote technology voucher project
- Successful application and signing of funding agreement
- Execute approved projects and complete them within 12 months
04. Issuing technology voucher subsidies
- Project completion report and performance certificate
- Technology Voucher Audit Report
- Grant no more than three-quarters of the total cost of the approved project
Know more about technology voucher
Technology Vouchers were launched in November 2016 in a pilot format to subsidize local small and medium enterprises (hereinafter referred to as “SMEs”) to use technology services and solutions to increase productivity or upgrade and transform. The amount of funding is two-thirds of the cost of the project, with an upper limit of 200,000, which will be implemented for 3 years until November 2019.Starting from February 27, 2019, the technology voucher has become a regular program, and the funding ceiling has doubled to 400,000. As of mid-2019, there have been more than 1,000 successful applications.
From April 1, 2020, the proportion of government funding will be increased to 75%, and the cumulative ceiling will be increased to HK$600,000.
(A) Registered in Hong Kong under the Business Registration Ordinance (Chapter 310); or a company incorporated in Hong Kong under the Companies Ordinance (Chapter 622); or a statutory body established in Hong Kong under the relevant regulations;
(B) Not a subsidiary of a government-funded agency* or any government-funded agency*;
(C) There is a substantial business operation in Hong Kong when the application is submitted, and the business must be related to the application project.
*Government-sponsored institutions refer to institutions that receive regular government funding. Relevant funding is paid for the expansion of the operations of these institutions to provide services to the public. Regular funding may account for a large part of the income of the relevant organization, or it may only be a small contribution/sponsorship, which accounts for a small proportion of the total income of the relevant organization.
Simply put, as long as they are non-listed companies (including limited companies and unlimited companies), institutions that do not receive government funding, and guarantee company organizations are eligible to apply
Purchasing, renting or ordering necessary components of the projectCustomizedEquipment or hardware, software and technology services or programs.
Buying, renting or ordering belongs toProject readyEquipment or hardware, software and technology services or programs.
×Please noteThe cost of equipment/hardware/software/services or solutions,Should not exceed 50% of the project cost。
Project audit (applicable to projects with approved funding exceeding HK$50,000)
×However, the upper limit of the audit fee calculated into the total cost of the project is HK$3,000.
Please note: general operating costswill notThe subsidy of the technology voucher, such as rent, labor and marketing expenses, is not within the scope of the subsidy of technology voucher.
Whether the proposed project is related to the business of the applicant company.
The company needs to explain in detail how the project can help increase productivity, expand the company’s business, reduce costs or increase employee efficiency, or upgrade and transform to enhance competitiveness
Whether the project budget is reasonable-the committee makes an assessment with reference to the market price of the technology it knows.
Whether the implementation details of the project proposed by the technology voucher are reasonable-factors to be considered may include whether specific and quantifiable project results have been set.
Whether the consultant or service provider has bad business records.
The technology voucher will provide a maximum of HK$600,000 in subsidies to each eligible applicant in a 3:1 matching mode. Applicants must invest in cash not less than a quarter of the total cost of the approved project. The technology voucher will provide applicants with funding not more than three-quarters of the actual cost of the project in the form of reimbursement. Each eligible applicant can be approved for up to six projects, but the cumulative funding limit is HK$600,000. To ensure that they can focus on the implementation of the project, applicants must not conduct more than one technology voucher project at the same time. Expenditure under approved technology voucher projects shall not be funded by other local public funding sources.
- Technology advisory services-applicants can appoint technology advisors to provide external advisory services for their application projects. When making an application, the relevant consultant must be a local organization or scientific research institution, or a company/organization that has been registered in Hong Kong under the Business Registration Ordinance.
- Purchase, rent or order customized equipment/hardware, software and technology services or solutions that are an essential part of the project.
- Purchase, rent or order off-the-shelf equipment/hardware, software, and technology services or solutions that are an essential part of the project. Generally speaking, the cost of these equipment/hardware/software/services or solutions should not exceed 50% of the project cost.
- Project audit (applicable to projects with approved funding exceeding HK$50,000), but the audit fee that is included in the total cost of the project is capped at HK$3,000.
General operating costs will not be funded by technology voucher, such as:
- Staff salaries, allowances, general training and development;
- General office equipment/hardware, software and technology services or solutions required for daily operations;
- Professional service fees not related to technology;
- Marketing and brand promotion expenses;
- Transportation and accommodation;
- Financing expenses and administrative expenses.
- Purchase, maintenance, warranty and insurance of existing equipment
- Expenses incurred before the project is approved or outside the project period.
(a) A copy of the applicant’s Business Registration Office Form 1(a)/1(c) or the most recent Companies Registry Annual Return (Form NAR1)
(b) The applicant has a copy of the documentary proof of substantial business operations in Hong Kong when the application is submitted, and the business must be related to the application project. For example, invoices/receipts or commercial contracts issued within the last three months, the latest audited accounts, profits tax returns, and tax assessment notices issued by the Inland Revenue Department
(c) Copy of valid Hong Kong ID card or passport of the person signing the application form on behalf of the applicant
(d) All signed copies of good faith and non-collusion quotations/tender confirmations obtained in accordance with paragraph 12 of this guide
(e) A copy of the quotation submitted by the bidder, showing the bidder’s detailed contact information (including address, phone number and email). Please specify the quotations that the applicant intends to select and how the items on each quotation correspond to the item expenditures in Part B (I) of the application form.
Each project should generally be completed within 12 months.