Objectives of the Technology Voucher Programme
The Technology Voucher Programme aims to subsidize local enterprises/institutions (regardless of size and operating period) to use technology services and solutions to enhance productivity, or upgrade and transform business processes, thereby enhancing their long-term competitiveness. After a pilot phase of about two years from November 2016, the Technology Voucher Programme has been included as the next recurring funding scheme under the Innovation and Technology Fund to increase government support for companies/institutions to adopt technology.
From 1 April, 2020: Increase the funding ratio and funding ceiling.
From 14 August 2020: Related institutions are no longer regarded as the same institution for calculating the total cumulative funding under the "Technology Voucher".
Enterprises/institutions applying for funding under the Technology Voucher Programme must meet the following requirements
1. Registered in Hong Kong under the Business Registration Ordinance (Cap. 310); or a company incorporated in Hong Kong under the Companies Ordinance (Cap. 622); or a statutory body established in Hong Kong under the relevant ordinance;
2. It is not a listed company in Hong Kong, nor is it a government-funded institution or a subsidiary of any government-funded institution;
3. Have substantial business operations in Hong Kong at the time of submitting the application, and the business must be related to the application project. A "shell company" will not be regarded as having substantial business operations in Hong Kong.
Funding Amount and Project Duration
1. The Technology Voucher Programme will provide a maximum of HK$600,000 to each eligible enterprise/institution in a 3:1 matching mode. Applicants must invest no less than one quarter of the total cost of the approved project in cash. In other words, the programme will provide funding to applicants no more than three-quarters of the actual project cost. This programme does not accept applicants' in-kind contributions as project costs. After the applicant has signed a funding agreement with the government and provided documents to prove that the applicant has deposited the corresponding share of the capital contribution into the designated bank account, and the relevant documents are verified, the Secretariat will deposit the first installment of no more than 25% of the approved funding amount of the project into the same bank account. Final funding will be released to applicants after the project is completed and the final report of the project is accepted by the Secretariat. Expenditure items (including the applicant and the government-funded part) under the approved Technology Voucher Programme project shall not be funded by other local public funding sources;
2. Up to six projects can be approved for each applicant, and the cumulative funding ceiling is HK$600,000. To ensure focused implementation of the project, each enterprise/institution shall not undertake more than one Technology Voucher Programme project at the same time. Each enterprise/institution can submit a new application only after completing the project approved earlier and submitting the final report of the project;
3. Each project should generally be completed within 12 months. Unless otherwise provided in the funding agreement, no waiver, cancellation, variation or modification of any funding agreement will be deemed effective unless made in writing and signed by the parties to the funding agreement. However, this is not the case for early completion of the project or postponement of the project completion date by no more than six months. The applicant must submit a written notice to the Secretariat in advance of the early or late project completion date, and record the relevant amendments in the project final report. Applications to defer project completion dates by more than six months without an increase in approved funding will be considered on a case-by-case basis. Applicants should provide sufficient justification for the Secretariat to assess the reasonableness of an application for a postponement of the project completion date. The Secretariat reserves the right to suspend the disbursement of any part of the funding to the applicant and/or withdraw all or part of the funding granted to the applicant if the applicant delays the project completion date by more than six months without prior approval.
Funding Scope and Amount
1. Amount of funding
①Amount of funding ≤ the total cost of the approved project x ⅔ or ¾;
②The first phase of funding (no more than 25% of the approved funding for the project; applicable to applications received from December 1, 2019);
③ The applicant has signed a funding agreement and has deposited its corresponding share of capital contribution into a designated bank account;
④Final funding: The final report of the project will be issued after being accepted by the Innovation and Technology Commission.
2. Projects available for funding
①Science and technology consulting services (selective appointment);
②Customized equipment/hardware, software and technology services or solutions (a necessary part of the project);
③ Ready-made equipment/hardware, software and technology services or solutions (a necessary part of the project; ≤ 50% of the total project cost);
④ Project audit (approved funding > $50,000; cost cap: $3,000).
3. Scope of funding
① Detailed budget;
②The cost incurred directly during the project period for the implementation of the project;
③ Service or program in the form of subscription;
④ The expenditure items of the approved technology vouchers shall not be accepted;
⑤ Funded by local public funding sources.
4. General operating costs will not be subsidized, such as:
① Building rent, staff salaries and related expenses;
②General office equipment required for daily operation;
③ Non-technology-related professional service fees;
④ Maintenance, warranty and insurance of existing and newly purchased equipment;
⑤Market and brand promotion (advertising), financing expenses;
⑥Transportation, accommodation and administrative expenses.
5. Information required to apply for the Technology Voucher Programme
① Substantial business operation certification documents;
② Business Registration Office Form or Companies Registry Annual Return (Form NAR1);
③ The Hong Kong identity card or passport of the person who signed the application form;
④The quotation submitted by the bidder and the signed letter of honesty and non-collusion quotation/bidding confirmation.
