TVP is a funding scheme offered by the Hong Kong Government to support small and medium-sized enterprises (SMEs) in technology development. The following are the key requirements for TVP application:
- Funding amount: Each company can receive a maximum funding amount of HK$600,000 per project. The government will subsidize 75% of the project costs, and the remaining 25% will be borne by the enterprises themselves.
- Eligibility:
– Not a listed company in Hong Kong and a government subvented organisation or its subsidiaries.
– Have a substantive business operation in Hong Kong that is relevant to the project under application.
– The company is registered in Hong Kong under the Business Registration Ordinance, or incorporated in Hong Kong under the Companies Ordinance, or incorporated in Hong Kong under the relevant statutory bodies ordinance.
- Examples of technology applications: TVP is applicable to various industries, and here are some examples of popular projects:
– Online store/APP/e-commerce platform
– CRM customer relationship management system
– ERP Enterprise Resource Management System
– POS retail sales system
– HRM Human Resource Management System
– Chatbots
– Cloud-based technology
– Database management
– Inventory management system, etc
- Application time and approval time: TVP accepts applications throughout the year and the actual processing time will depend on the number of applications received, the complexity and the completeness of the information submitted. Applicants may need additional information or clarification, and must submit documents within one month of receipt of the request. The disbursement of the grant will take place within two months after the completion of the project.
- Number of supplier quotations: Applicants need to provide supplier quotations in different amount ranges, and the requirements are as follows:
– For projects up to HK$50,000: Quotation from at least 2 suppliers.
– Projects exceeding HK$50,000 but not exceeding HK$300,000: Quotation from at least 3 suppliers.
– Projects exceeding HK$300,000 but not exceeding HK$1,400,000: Quotation from at least 5 suppliers.
Innovation and Technology Commission
The Government has decided to stop accepting new applications for TVP after December 31 this year
