Technology Voucher Programme (TVP)
Know more about technology vouchers
Starting from June 1, 2020, the implementation requirements of the Technology Voucher Program will be relaxed. Enterprises can start the Technology Voucher Program on the next day after submitting the application, and must submit a declaration and a letter of commitment to the Innovation and Technology Commission within 5 working days after the launch. Businesses that have already submitted applications can also benefit.
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What is the Technology Voucher Programme TVP?
The Innovation and Technology Fund established the Technology Voucher Programme (TVP) in November 2016, which was implemented in a pilot form at that time, aiming to subsidize SMEs to use technology services and solutions to improve productivity or upgrade and transform. In a 3:1 matching mode, the Technology Voucher provides up to HK$600,000 (HK$400,000 for applications before April 1, 2020) to eligible companies. The enterprises concerned are required to invest one-fourth of the total cost of the approved project. After the project is completed, the government will issue the approved funding to the applicant enterprise
What is the Technology Voucher Programme TVP?
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Petition form
1. Enterprises and institutions (except listed companies) that meet the following conditions can apply:
(a)(i) registered in Hong Kong under the Business Registration Ordinance (Cap 310); or
(a)(ii) a company incorporated in Hong Kong under the Companies Ordinance (Cap. 622); or
(a)(iii) a statutory body established in Hong Kong under the relevant Ordinance;
(b) is not a subsidiary of a government-funded body* or any government-funded body*;
(c) have substantive business operations in Hong Kong at the time of submitting the application, and the business must be related to the application.
*Government-funded institutions refer to institutions that receive regular government funding. The subsidy is used to cover the operating expenses of these organisations in providing services to the public. Recurrent funding may constitute a significant portion of the organisation’s revenue, or only a small contribution/sponsorship, which may constitute a small percentage of the organisation’s total revenue
Source: Innovation and Technology Commission – Innovation and Technology Fund (https://www.itf.gov.hk/l-tc/TVP.asp)
Required Documents for Technology Voucher Application
- business registration
- Certified copy of the Companies Registry Annual Return (Form NAR1) of the applicant company
- Copies of documents proving substantive business operations
- Certified copy of quotation
- A copy of the valid identity card of the person who signed the application form
- Integrity Clause and Non-Collusion Clause in Invitation for Quotation/Invitation to Tender
- Completed Technology Voucher Application Form
Submit application
- Register as a user in the dedicated system of the Technology Voucher Programme (no physical application form)
- Prepare the required documents, generally including but not limited to copies of business registrations, proof of substantial business, expense quotations, etc.
- Information on Technology Consultants
Assessment of Technology Voucher Applications
- Whether the project is relevant and proportionate to the business of the applicant SME
- Reasonableness of various budgets and implementation details
- Track Records of Technology Consultants and Technology Voucher Providers
Implementation of the Technology Voucher Project
- 【New Measures】Projects can be started the next day after submitting the application
- Successful application and signing of funding agreement
- Execute approved projects and complete within 12 months
grant funding
- Project Completion Report and Evidence of Effectiveness
- Technology Voucher Audit Report
- Disburse grants up to three-quarters of the total approved project cost
Purpose of Technology Voucher Funding
- Purchase, lease or order components, technology service solutions, software or hardware that are necessary for the project, but they must be "made to order" according to the customer's requirements
- If necessary components, technology service solutions, software or hardware are to be purchased, leased or ordered within the project, but they are "off the shelf", then they cannot cost more than 50% of the project.
- If the approved project exceeds $50,000, the project audit fee of the Technology Voucher can also be funded using the Technology Voucher, up to a cap of $2,000
- Technology Voucher funds are subsidized on a project-by-project basis, and daily operating expenses are not covered by the Technology Voucher Fund.
Purpose of Technology Voucher Funding
E-commerce system
E-commerce system includes online store content management system (CMS), customer and management Apps, online payment, online marketing system, inventory management and automatic data collection system to facilitate customer consumption and improve customer loyalty
Point of sale management system POS
Handling a variety of store sales situations, including cross-store management, member consumption records and management, online and offline links (O2O) and other retail business needs to improve operational efficiency
Customer Relationship Management SolutionCRM
Customer Relationship Management (CRM) allows companies to centrally process all customer details, understand the needs of existing and potential customers, and provide data for marketing and analysis to increase sales
Electronic reservation system
Regardless of venue management, equipment rental, business centers, clinics, etc., the reservation system can help users make proper arrangements in one-stop, and provide reports for analysis to improve the overall operation.
Big data and cloud analysis solutions
Putting traditional systems on cloud systems such as Amazon Web Services (AWS) can help the overall sustainability of IT systems, reduce costs and risks, and conduct real-time big data collection and analysis
Information sharing platform
Through the information sharing platform, customers and users can exchange information, reduce information and communication costs, and promote transactions and volumes
Useful Links for Tech Vouchers
Application Guidelines
Detailed guidance documents are provided to assist applicants in filling in the application form. The guidance details the basic information of the project, application eligibility, funding amount, application and approval procedures, project supervision, repayment of funds, enquiries and other information related to the TVP documents.
Technology Voucher Quote Invitation Template
Good faith clause and non-collusion clause
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