The Technology Voucher Programme was established by the Innovation and Technology Fund to fund local non-listed companies and organizations to use technology services and solutions to increase productivity or upgrade their business processes.
If your company or organization needs to develop an APP or system, you can apply for the Technology Voucher Programme. The fund will provide a maximum of HKD$600,000 or 3/4 of the total project expenditure, whichever is lower as the final subsidy amount. For small and medium enterprises, it is a very good opportunity.
Case 1
ABC company is operating a hotel. In order to target Chinese customers, it hopes to develop a WeChat mini program for online booking. ABC company found a supplier and quoted it at HK$250,000. In the absence of a Technology Voucher Programme, ABC company needs to pay the supplier HKD$250,000. Now with the Technology Voucher Programme, ABC company can obtain government funding of HK$187,500 through the programme after spending HKD$ 250,000, while ABC company actually only needs to pay HKD$62,500.
Case 2
XYZ company is a high-tech company. In order to make their office more intelligent, they hope to change all electronic devices into smart devices, which can be controlled through APP. In addition to normal control, they also hope to achieve the following functions:
a) When there is no one in the office, all non-essential equipment can be automatically turned off
b) The air conditioner does not require human control, and the temperature is automatically adjusted through the temperature sensor and system
c) The lighting can automatically reduce the brightness during the day
d) During a meeting, system can automatically turn on equipment such as air conditioners, lights and projectors
XYZ company found a supplier for the quotation. In addition to the system and APP, the project also needs smart modules and sensors, so the supplier’s quotation is relatively high, about HKD$800,000-900,000. XYZ company's budget is only HKD$500,000. After obtaining the supplier's suggestion, it decided to apply for the Technology Voucher Programme. After a successful application, XYZ company can obtain a government subsidy of HKD$600,000. In the end, XYZ company needs to spend only HKD$200,000-300,000, which is only about half of the original budget.
Eligibility
Local entities fulfilling the following requirements are eligible to apply for funding under the TVP:
(a)(i) Registered in Hong Kong under the Business Registration Ordinance (Cap. 310); or
(a)(ii) Incorporated and registered in Hong Kong under the Companies Ordinance (Cap. 622); or
(a)(iii) Established in Hong Kong by relevant ordinances as statutory bodies;
AND
(b) Not a listed company in Hong Kong, and not a government subvented organisation3 or subsidiary of any government subvented organisation3;
AND
(c) With substantive business operation in Hong Kong which is related to the project under application at the time of application.
Most Hong Kong SMEs are eligible to apply for technology voucher. If you need to find mobile app development in Hong Kong or more relevant information, you can visit the official website of ITC
https://www.itf.gov.hk/tc/funding-programmes/facilitating-technology/tvp/ or contact Teamotto immediately.
