The Hong Kong Technology Voucher Programme (or TVP in abbreviation) is a fund which is provided by the HK’s Innovation and Technology Commission (ITC) and was launched in the end of year 2016. The purpose of the programme is to provide financial support to all local small and medium businesses who may be eligible. The small/medium businesses would use the fund to enhance their technologies (or technical solutions) to better support their business growth in an ever competitive environment.
The fund (of TVP) is made available to local businesses. But businesses who need the funding must go through the formal application and get approved for the funding. To be eligible to the funding, the business must be a registered company in HK under the Business Registration Ordinance, or incorporated under the Companies Ordinance. A firm that is actually a subvented organization of the government, or a subsidiary company that is under the subvented organization of the government is not allowed to apply. The applicant company must also fulfill this active business thing: It must have substantive business operation locally in HK and this operation must be highly related to the project (that was applied) in the application.
For example, the funding from the Technology Voucher Programme may be spent on projects such as:
- Purchasing, subscribing, or renting of IT hardware and/or software which are key to enhance business process, including HR systems, payroll system, customer database management, or more.
- Tech development of IT software, tools, or systems that can be used to grow the business in terms of growing customer base, increasing revenue, and more.
- Hiring an external technology consultant: The business may engage with an expert consultant who would conduct the project which was applied through the TVP.
The applied project must aimed to be completed within a twelve month time period. The Innovation and Technology Commission would conduct an initial screening to check the eligibility of the application.
Prism Consultancy who is specialized in Hong Kong company incorporation and accounting/tax services, can provide the necessary consultation to local businesses who want to apply for the Technology Voucher Programme. Other services that are available include:
- Registration of limited company, representative office, branch office, sole proprietorship, etc
- Company secretary, registered address, bank account opening, company deregistration, etc
- Serviced office, virtual office, office rental, coworking spaces, etc
- Auditing, payroll, account software training courses, etc