The Technology Voucher Programme (TVP) was established by the Innovation and Technology Fund to subsidize local unlisted companies and institutions to use technology services and solutions to enhance productivity or upgrade and transform their business processes. Launched in a pilot form in November 2016, it was included as the next recurring funding scheme of the Innovation and Technology Fund on 27 February 2019.

From April 1, 2020, the government will further optimize the technology vouchers to help enterprises use technology to improve their business operations and enhance their competitiveness. The government's funding ratio for approved projects will be increased from 3:2 to 4:3, the funding ceiling for each applicant will be increased from $400,000 to $600,000, and the maximum number of approved projects will be increased from four to six.

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Application requirements:

1. An unlisted company registered in Hong Kong under the Business Registration Ordinance (Cap. 310)

2. Substantial business operations in Hong Kong

3. Generally, it refers to less than 100 employees in the manufacturing industry or less than 50 employees in the service industry.

4. Enterprises must invest no less than one quarter of the total cost of the approved project in cash. After the approval of the project is completed, the government will issue the approved subsidy to the applicant enterprise

5. Each funded project must be completed within no more than 12 months

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Purpose of Technology Voucher Grants:

• Purchase, lease or order components, technology service solutions, software or hardware that are necessary in the project, but must be "customized" 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 must not 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 by the Technology Voucher, with a cap of $2,000

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Technology Voucher Audit:

After the application is approved, the enterprise should pay attention to all expenses including: checks, receipts, etc. and the payer must be the same as the name of the applicant enterprise. If the project amount exceeds HK$50,000, the accounts will be audited by a registered independent auditor (Audit report). At the same time, it is also necessary to submit a final implementation report of the project, which clearly lists the results of the project.

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