[Technology Voucher Program instructions] How to apply for the Technology Voucher Program (TVP)?

[Technology Voucher Program instructions] How to apply for the Technology Voucher Program (TVP)?

The main purpose of the Technology Voucher Programme (TVP) is to provide technology services and technology development solutions for small and medium-sized enterprises in Hong Kong. With technology transformation as the main axis, business processes can be optimized to strengthen the long-term competitiveness of enterprises.

[Technology Voucher Instructions] In April this year, in the face of economic downturn risks and the continued epidemic, the Government Innovation and Technology Agency upgraded the original Technology Voucher Programme (TVP), and the funding ceiling for each approved project is set by ⅔ Increase to 3/4 to encourage local SMEs with limited resources to upgrade their business and improve operational efficiency.

As long as the documents are submitted in full, it will usually be approved within one to three months.

This article will disassemble the difficulties about technology vouchers one by one, so that everyone can easily apply for technology vouchers!

Introduction to the Technology Voucher TVP Programme

Since November 2016, the Innovation and Technology Fund of the Innovation and Technology Commission (ITC) has implemented the Technology Voucher Programme (TVP) in a pilot form, and after 4 years, it has been successfully incorporated into the Fund’s “Recurrent Funding Scheme”, which is accepted throughout the year. Apply.

Eligibility for the Technology Voucher TVP Programme

Generally speaking, as long as the company is registered in Hong Kong under the Business Registration Ordinance (BRO), unlisted companies with actual business operations are eligible to apply.

Furthermore, neither government-affiliated organisations nor any of their affiliated subsidiaries can apply for the Tech Voucher Programme.

Successful applicants will receive up to 600,000

It should be noted that applicants of the Technology Voucher can receive funding for up to 6 projects, and the nature of the project content must also be business-related.

If all 6 projects are successfully applied for, the maximum cumulative funding amount is 600,000.

The funding scheme will provide funding to eligible enterprises on a 3:1 ratio, that is, enterprises need to bear 25% of the transition costs, and the remaining 75% will be funded by the Technology Voucher Programme.

In addition, each technology voucher applicant can only process applications for one project at the same time, and once the technology voucher project funding is successfully approved, the project cannot apply for other public funding.

Funding Scope of TVP Technology Voucher Programme

The scope of funding that can be applied for TVP funds is mainly technology services and solutions, including: technology consulting services, purchasing POS systems, inventory management systems, online sales systems, customer relationship/information management systems, cloud crowdfunding platforms, etc.

TVP Technology Voucher Project Review

Each technology credit application has a set of standard evaluation criteria, which will generally consider the relevance of the technology credit applicant’s corporate business to the project, whether the applicant has a bad record in the past, and whether the budget and plan details are reasonable.

If the evaluation is successful, generally each technology voucher project is expected to be completed and approved within one year, and the Innovation and Technology Commission will notify the applicant of the result in writing at that time.

Technology Voucher Application Form and Required Documents

Enterprises interested in applying for technology vouchers should first register in the fund management system of the scheme, prepare the following documents and submit them to the official website of the technology voucher scheme: https://tvp.itf.gov.hk/

• Technology Voucher Quotation – Project Quotation Form (copy) submitted by bidders for technology services/solutions

• Business Registration Certificate (BR) for technology services/solutions (copy)

• Valid Hong Kong Identity Card or Passport (copy) signed by the business representative

• Business Registration Certificate (BR) or Annual Return of Companies Registry (Form NAR1) of the company (copy)

• Documents proving that the company has actually operated in Hong Kong in the last three months (copy)

• A signed “Integrity and Non-Collusive Quote or Tender Confirmation” (copy)

At a later stage of the application process, applicants may need to attach other relevant documents, including results and reports. For details, please visit the official website of the Technology Voucher Program.

The above information is for reference only.

If in doubt, we welcome your tax enquiries.

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