Technology Voucher” Eliminates Cumulative Funding Limit

Cancellation of Cumulative Funding Limit for Technology Voucher

The Innovation and Technology Bureau has relaxed restrictions related to relevant institutions under the Technology Voucher program since August 14, 2020. Relevant institutions (i.e., enterprises/organizations established under different legal entities but with 30% or more ownership held separately by the same individuals) will no longer be considered as the same institution for the calculation of cumulative funding under the Technology Voucher. Under the new measures, enterprises with individual shareholders holding 30% or more ownership will have to calculate the funding amount collectively, and the maximum cumulative funding limit of HKD 600,000 is immediately canceled.

In simple terms, under the new measures, the Technology Voucher program can provide HKD 600,000 in funding for each eligible enterprise. We have promptly shared this good news with our Technology Voucher funding program clients and have received inquiries from many business owners looking to apply for Technology Vouchers for their other companies. In fact, technology solutions, from corporate management to digital marketing and automation processes, have become essential in systematic management, especially in the digital business era, and are one of the competitive factors for businesses. With Technology Voucher funding, where the government funds 75% of the project cost and enterprises only need to bear 25%, the investment cost is highly cost-effective.

Upgrading Technology Solutions for Small and Medium Enterprises

To learn more about Technology Vouchers, here is a list of popular technology voucher programs for small and medium enterprises:

For business owners with multiple investments, an increase in Technology Voucher funding is good news. However, the difficulty of applying for Technology Vouchers remains. If the requirements of the program are not met during the application, procurement, and execution of Technology Vouchers, the funding may still seem out of reach.

For example, the Technology Voucher procurement process has standard requirements, including providing sufficient quotations based on project costs. For small and medium-sized enterprises without IT departments, everything from writing quotations to selecting the most suitable suppliers can be challenging. Having Technology Voucher consultants with specialized IT knowledge can help understand the required solutions for their own businesses, effectively utilize the Technology Voucher program, and successfully secure funding for upgrades.

For more information about TVP Technology Vouchers, contact our TVP Technology Voucher consultants at (+852 2129 0104) for a free case assessment.

6 Things You Need to Know Before Hiring a Government Funding Consultant for Your Technology Voucher Application

Technology Voucher Program

The government currently offers various subsidy programs, such as Technology Voucher Program, BUD (Business Development Fund), and SME Market Promotion Fund, to assist small and medium-sized enterprises in promoting their businesses. However, the conditions and subsidy amounts for each program are different. You can choose which subsidy to apply for based on your current business situation and needs. Let us tell you the “Top 6 Things You Need to Know Before Seeking Government Subsidy Consultation.”

1. Understand the subsidies you can apply for

The government currently offers multiple subsidy programs to assist businesses in promoting various activities, especially small and medium-sized enterprises. However, the conditions and subsidy amounts vary for each program. You can choose which subsidy to apply for based on your current business situation and needs.

Here are some popular funding and subsidy programs in Hong Kong:

Government funding programsFunding programs and their contentThe highest cumulative funding amountFunding percentage
TVP – Technology Voucher ProgrammeThe program was launched in November 2016, providing funding to businesses for the purchase of technology services and solutions. Its goal is to assist Hong Kong businesses or organizations in enhancing overall productivity, improving service quality, and undergoing business transformation.HKD$ 600,00075%
BUD Special Fund BUDThe BUD program includes Mainland China initiatives and Free Trade Agreement initiatives. Through funding, it supports projects aimed at developing brands, upgrading and transforming, or expanding into the Mainland China and Free Trade Agreement economies. This is to enhance the competitiveness of Hong Kong’s small and medium-sized enterprises in the Mainland, ASEAN, and Free Trade Agreement markets.HKD$ 6,000,00050%
Retail Industry Human Resource Demand Management Technology Application Support Program (Export Markketing Fund)The “SME Market Promotion Fund” established by the Trade and Industry Department is specifically designed to help small and medium-sized enterprises expand their overseas markets (outside of Hong Kong) and promote their products in other regions. Supported projects include websites, online stores, online advertising, exhibitions, and more.HKD$ 800,00050%
Retail Industry Human Resource Demand Management Technology Application Support Program (ReTAAS)The program is specifically designed for the Hong Kong retail industry, aiming to enhance productivity in the retail sector by subsidizing the application of technology for managing workforce demand. Commonly supported projects include electronic payment systems, the establishment of online stores, POS systems, and more.HKD$ 50,00050%

 

2. The nature of the company’s business

In the Hong Kong market, there are several consulting companies that assist businesses in applying for government funding. Choosing a high-quality and professional consulting company can expedite the application process and ensure that you don’t take the wrong path. Consulting companies can generally be categorized into four types:：

  • Consulting Companies Specializing in Government Funding Applications: These companies primarily assist clients in applying for various types of government funding. Given the diversity of government funding programs, they usually specialize in a few specific funding categories.
    (5-star rating highest)

    Expertise: *****
    Price: ***
    Speed: *****

  • Technology or Marketing Companies Offering “Part-Time” Government Funding Application Services: These companies primarily focus on technology applications or marketing, but they also offer “part-time” services to help clients apply for government funding. For example, a company specializing in ERP systems may also assist clients in applying for technology vouchers, which align with the solutions they provide.
    (5-star rating highest)

    Expertise: *
    Price: ****
    Speed: **

  • Secretarial Firms or Accounting Practices Offering “Part-Time” Government Funding Application Services: Similar in nature to the second category, these companies are also prevalent. They sometimes assist clients in applying for more suitable government funding programs due to their access to clients’ financial information. Among the Big Four accounting firms in Hong Kong, some have dedicated departments for assisting clients in applying for government funding and loans, as part of their “value-added services.”
    (5-star rating highest)

    Expertise: ****
    Price: ***
    Speed: ***

  • Companies Engaging in Fraudulent Government Funding Schemes: You may have received calls like this, claiming, “We can apply for certain government funding for you, and your company doesn’t need to do anything. We’ll settle the accounts after the funding is approved.” These so-called “companies” only require your company’s name to assist you in applying for funding, while secretly preparing all the documents and evidence on your behalf. Remember: There’s no such thing as a free lunch. The government has recently increased efforts to combat false applications for pandemic-related funds. If you fall into the trap of scammers, both the applying business and its owner may face severe consequences.
    (5-star rating highest)

    Expertise: *
    Price: *****
    Speed: *

Therefore, businesses must carefully choose consulting companies and, through conversations, ascertain whether the consulting company has a thorough understanding of government funding. Additionally, businesses should consider reviewing relevant government funding information on the official government website as an initial step.

 

3. Understand the Consultant’s Background and Application Experience:

As mentioned in the previous point, some consultants have primary “day jobs” and are not specialized government funding consultants. Many times, they may be client managers or regular salespeople with no expertise in government funding. On the other hand, some consulting companies that specialize in government funding have team members who have worked in various funding agencies and are relatively familiar with the workings of funding applications. Therefore, businesses must carefully choose the right funding consultant and ascertain from their conversations whether the consultant has a sufficient understanding of government funding. Businesses should also consider reviewing relevant government funding information on the government’s official website or other relevant sources.

 

4. Consulting Company’s Consultation Mode

Many government funding consulting companies in the market can provide preliminary funding consultation services. Typically, consulting companies will first assess the business’s needs and eligibility before providing consultation and a quotation. However, some funding consulting companies may require an initial payment before commencing consultation. Businesses can decide whether to opt for paid consultation. If a funding consultant does not propose a face-to-face consultation, businesses should proactively request one. This allows businesses to better understand the consultant’s background and scale and gain a deeper understanding of various government funding procedures for future applications.

 

5. Consultant Service Content

Government funding consulting companies usually offer services such as preparing application forms and final reports. However, it’s essential to note that if a funding consultant claims to “create” applications for you to obtain more government funding, businesses should be aware of the legal risks. Defrauding government funds is a serious criminal offense, and there have been cases where companies were prosecuted. If any false documents are involved during the application or execution process, the applying business will bear 100% of the legal responsibility, and unscrupulous consulting companies may escape legal consequences.

 

6. Funding Consultant Company’s Fee Structure

  • Fee Based on Funding Percentage: Many funding consultants in the market adopt a “percentage of funding amount” fee structure, with commissions ranging from 8% to 25%. They often advertise as “no success, no fee.” As the name suggests, the benefit of this type of technology voucher consultant service is that if the technology voucher application fails, the applying business does not need to bear any financial costs (though costs related to human resources, time, business opportunities, etc., are unavoidable). Because consultant fees are calculated as a percentage, the higher the funding amount, the higher the consultant’s commission. This fee calculation method can motivate consultants to maximize the scale of technology voucher projects. If applying businesses are not familiar with technology solutions, they may be easily persuaded by consultants to use unnecessary system functionalities. While the short-term upfront fee is not very apparent due to receiving 75% funding from the government, the long-term system maintenance costs need to be paid at the full price, creating a long-term burden for the applying business.
  • Fixed Fee: A fixed fee is entirely uniform, or it may be calculated based on the workload of the application project, not tied to the funding amount. The fee generally ranges from thousands to tens of thousands of dollars. Since consultant fees are independent of the application project, consultants have no incentive to persuade client companies to use unnecessary technology solutions. The engagement process is more direct and fast. However, independent consultants may not have the structural motivation to maximize funding like intermediary consultants with a “no success, no fee” model. Therefore, it is essential to have a clear explanation before commissioning an independent consultant to establish trust.
  • For more details, please refer to: Link to a website.

The Innovation and Technology Fund allocated 4 billion dollars last year, doubling over the past 5 years.

Technology Voucher Program

According to a report by the Hong Kong Economic Journal, the Hong Kong government’s funding for the “Innovation and Technology Fund” reached a new high in 2021, with actual expenditure doubling compared to 2017, reaching 4 billion Hong Kong dollars. The funding for the Technology Voucher Program (TVP) also increased to 590 million dollars, nearly 18 times higher than in 2017. TVP provides a maximum subsidy of up to 600,000 dollars to each company, aiming to support businesses in purchasing and implementing technology systems to enhance competitiveness and facilitate transformation. The maximum subsidy rate is 75%. TVP accepts applications throughout the year and allows projects to commence immediately after submission.

Read more: Introduction to the Technology Voucher Program (TVP).

The Director of the Innovation and Technology Bureau pointed out that during the pandemic, the Technology Voucher Program (TVP) has become very popular. In June 2021, the Innovation and Technology Bureau entrusted the Productivity Council to serve as the secretariat for TVP, which has helped expedite approvals. It is anticipated that approval rates should be more favorable by the middle of this year.

According to figures from the Innovation and Technology Bureau, in 2021, the Innovation and Technology Fund received over 11,300 applications, with 8,960 of them already approved. This represents a significant increase compared to 2017 when there were 3,000 applications and 1,500 approvals, marking an increase of 2.8 and 5 times, respectively. The actual expenditure of the Innovation and Technology Fund in the past year was approximately 4 billion dollars, which is more than twice the 1.33 billion dollars in 2017. The number of TVP applications and approved subsidies also saw a noticeable increase, rising from 577 applications in 2017 to 5,108 in 2021, with approved subsidies increasing from 31.7 million dollars to 590 million dollars, nearly 18 times higher.

Read more: Popular Projects under the Technology Voucher Program (TVP).

In 2020, during the pandemic, the government introduced the “Distance Business Program” to support businesses in continuing their operations through information technology. To date, the government has approved a total of 25,744 applications, involving over 21,000 companies, with 95% of them being small and medium-sized enterprises (SMEs), and the total funding amounting to approximately 1.7 billion dollars.

Hong Kong Funding Advisors Limited’s consultants for the Technology Voucher Program (TVP) have extensive experience. They can save businesses the time and reduce the chances of application failure when compared to self-application. Hong Kong Funding Advisors Limited has been specializing in TVP applications for many years, and their consultant team possesses senior-level experience. The most important guarantee they offer is a refund in case of an unsuccessful application.

Read more: 10 Common Questions About Applying for Technology Vouchers.

 

獲取建議

[Technology Voucher Consultant Tells You] The Six Steps to Applying for the Technology Voucher

The process of applying for the Technology Voucher Programme (TVP) is too complicated???

Many people find the application process for the Technology Voucher Programme (TVP) to be very cumbersome, with too many steps and a lot of required documents. There are also many who believe that there is no need to seek advice and assistance from TVP consultants. Is this really true? This article will answer these questions one by one. By reading this article, you will learn about the simple six-step process for applying for TVP and the reasons for seeking TVP consultants.

Let the Technology Voucher Consultant Understand the Company’s Development Needs

Firstly, before applying for the Technology Voucher Programme (TVP), companies need to understand whether there are genuine development needs for funding, such as business transformation and enhancing productivity. After identifying these development needs, companies can either independently search for suitable technology project providers or seek assistance from technology voucher consultants for consultation. With clear goals and direction, seeking assistance from technology voucher consultants after identifying the development needs will make the TVP application process faster and more efficient.

For example, a manufacturing company with a 50-year history in Cheung Sha Wan has recently identified some inefficiencies in their production line, such as slow material transfer speeds and the need for manual product inspections. Therefore, they require an automated production line system to improve production efficiency and quality. In Phase 1, a technology voucher consultant can assist this company in assessing their needs and objectives, as well as recommending viable technology solutions and technology providers.

Another example is a restaurant business that has noticed some issues during the ordering process, such as long order times and low order accuracy. To enhance customer satisfaction, they wish to implement a POS (Point of Sale) ordering system. Through the POS ordering system, customers can place their orders themselves, eliminating human errors and communication problems, streamlining the ordering process, and improving efficiency and accuracy. At the same time, the restaurant owner can better track menu item sales through the POS system for improved store and inventory management.

Phase 2: Reviewing Technology Voucher Application Eligibility

Companies need to prepare the required documents, which typically include a copy of their business registration certificate, proof of substantial business operations, expenditure quotations, evidence of substantial business operations, and relevant quotations for proposed projects, among others. After the company submits all the documents, the technology voucher consultant will review the eligibility of the documents, ensure that the project is relevant and suitable for the application by small and medium-sized enterprises, and verify the reasonableness of the budget and implementation details of the technology solution. This is done to ensure that the company qualifies for the technology voucher and to guarantee a smooth and expedited application process.

A retail store wishes to apply for technology voucher assistance to establish an e-commerce website, but the budget for website development exceeds the reasonable scope of the technology voucher. During the eligibility review process, the consultant identifies this issue and discusses alternative viable technology solutions with the client to ensure that the application complies with the regulations and requirements of the technology voucher.

A small-scale service industry company is considering applying for a technology voucher to implement a customer relationship management system to enhance customer satisfaction and loyalty. The technology voucher consultant needs to assess the company’s business type and scale, determine if the company is eligible for the application, and assist the company in the application process. In this process, the consultant needs to check whether the company meets the application requirements of the technology voucher program, such as having a valid business license and meeting the requirements related to the company’s establishment date and the number of employees, among others. If the company meets the eligibility criteria, the consultant can assist the company in proceeding to the next steps of the application.

Phase 3: Drafting the Project Application

Once the technology voucher consultant confirms the eligibility of the company, an experienced consultant with ample expertise in technology vouchers will swiftly draft a comprehensive and compliant project proposal based on the company’s business type, operational model, and the technology solution for which funding is sought. This proposal is then submitted along with the application form to the Innovation and Technology Commission. After preparing all the necessary documents and data, the consultant typically takes around one to three working days to draft the project application.

Phase 4: Follow-up on Application Inquiries

After submitting the application, the secretariat of the Innovation and Technology Commission may pose a series of questions regarding the company’s application submission and the requested funding amount. The company may need to provide additional documents or explanations in response to these inquiries. It’s important to note that companies must respond to the secretariat within one month, or their eligibility may be revoked. Technology voucher consultants can assist companies in preparing the necessary documents and providing precise responses to the secretariat’s questions, ensuring that the company addresses all inquiries within the one-month deadline.

Phase 5: Contract Signing and Implementation of the Project Plan

Once all the inquiries related to the technology voucher application are concluded, the company simply needs to await approval from the Innovation and Technology Commission. Upon approval, the company will be required to prepare a few documents for contract signing. After the contract is signed, the company can officially commence the funded technology project.

Phase 6: Completion of the Final Report and Receipt of Funding

After initiating the project, the company needs to submit a final report to confirm the successful execution of the technology voucher-funded project and its actual benefits to the applying company. Technology voucher consultants will assist the company in providing relevant documents and proof of project execution, as well as in drafting a final report that complies with the requirements of the Innovation and Technology Commission. Upon successful submission, the technology voucher funding will be received approximately two to four months later, marking the conclusion of the entire technology voucher application process.

Other articles related to the Technology Voucher:

Significant Updates to Technology Voucher Application Documents!

The Innovation and Technology Bureau is tightening the application process for technology vouchers. When applying for IKEA, there may be a chance that the following documents need to be provided:

  1. If the applicant sells products, there may be a need to submit photos of the products or photos of the store.
  2. Some bank transaction records as operational evidence.
  3. Employee MPF records or labor insurance.

Therefore, our company absolutely refuses to assist enterprises attempting or intending to defraud government subsidies. We recommend Hong Kong companies to use technology vouchers for:

  1. Creating a company website.
  2. Website SEO optimization.
  3. Mobile application (App).
  4. Customer database (CRM).

How to Expand Online Markets Using Technology Vouchers

How to Use Technology Vouchers to Develop Online Markets

Many businesses faced significant challenges in the aftermath of Covid-19 in 2020. In recent years, many companies have ventured into the online space to expand their digital presence. Starting in 2021, there was a surge in companies inquiring about whether they could receive support through technology vouchers for their online stores. In theory, online stores fall within the scope of technology voucher funding. However, it’s essential to note that creating an online store goes beyond just adding a new sales channel. The interface should be visually appealing and offer an excellent user experience. Whether on a computer or a mobile device, it must be clear and easy to navigate, with a simple and intuitive user interface. Additionally, incorporating videos to highlight product advantages and providing comprehensive information are also crucial aspects to consider when developing an online store.

Why can online stores successfully apply for the Hong Kong Technology Voucher?

The purpose of the Technology Voucher Programme (TVP) in Hong Kong is to encourage small and medium-sized enterprises (SMEs) to adopt technology services and solutions to improve productivity or upgrade and transform their business processes. The reasons why online stores or e-commerce businesses can successfully apply for the Hong Kong Technology Voucher can be seen from several perspectives:

  1. Necessity of Technological Upgrades: Online stores often need to upgrade their technology platforms to provide better customer experiences. This includes optimizing websites, improving site speed, and enhancing system security. The TVP can assist these businesses in purchasing new servers, adopting the latest e-commerce solutions, or enhancing website security.

  2. Data Analysis and Marketing Strategies: Technology plays an essential role in modern e-commerce. Online stores can use technology to analyze customer data, understand market trends, and carry out more targeted marketing campaigns. This helps online stores better target their market and customer base, thereby increasing sales.

  3. Enhancing Operational Efficiency: As businesses expand, online stores need more efficient management tools to handle inventory, logistics, and orders. The TVP can support these businesses in adopting automated warehouse management systems, logistics tracking tools, and other technology solutions to streamline their daily operations.

  4. Strategic Application: Successful TVP applications require not only technological needs but also a clear business strategy and plan. Online stores need to explain to the funding agency how the selected technology will directly contribute to business growth and efficiency.

  5. Website Scalability: Online stores need user-friendly backend interfaces for easy page management, which helps establish a strong brand image and build customer trust in the long run. Moreover, online stores need to invest in value-added services like search engine optimization (SEO) to improve their website’s ranking on Google’s front page, increasing click-through rates and traffic. In addition to aesthetics and functionality, online stores also need to integrate with customer relationship management (CRM) systems to handle orders and customer feedback.

We recommend that companies interested in expanding their online business consider using TVP funding to establish an online store, implement customer management systems, and invest in search engine optimization. If necessary, they can also acquire retail systems such as point-of-sale (POS) systems. Since TVP can provide up to 75% funding, applying for the program can significantly reduce the costs involved in these initiatives.

How should one choose an e-commerce platform?

There are basically two choices when it comes to setting up an online store platform, which are suitable for different user needs:

Option 1: Using a DIY Platform

A hosted platform is a paid DIY web platform for selling products. In Hong Kong, some well-known options include Shopline, Shopify, and 掌舖. These are all examples of DIY web platforms. DIY website platforms are easy to use and handle various aspects such as website setup, page layout modules, payment gateways, and integration with logistics providers. Users do not need coding experience, and they can manage these tasks themselves. However, these DIY web platforms have lower flexibility, and if you require customized features, it can be more challenging to implement.

Option 2: Setting Up Your Own Website

There are some open-source website building options available, and we recommend WordPress. WordPress is not only SEO-friendly but also offers a wide range of features. It can be used to add e-commerce capabilities to your company website, as well as incorporate membership systems and manage orders, among other functionalities.

Website required features" or "Functionality needed for the website

  1. Online Store System

Frontend: This is the part of the website that visitors can see, displaying all products, prices, features, discounts, and more. Additionally, the shopping cart functionality allows visitors to add items to their cart and proceed to checkout. Backend Control: This is the dedicated area for website owners or administrators, allowing them to monitor and manage all activities on the website. Drag and Drop Functionality: With this feature, administrators can adjust the webpage layout or add new products through a simple drag-and-drop interface, without the need for coding. Product Management: Administrators can add, edit, or delete products, set prices, and add product descriptions and images. Order Management: This feature enables tracking of all orders, viewing which orders are completed or in progress, and handling refunds or returns. Sales Reports: Display sales data, revenue, and other statistical information related to sales.

  1. Membership System

Member Registration: Visitors can register as members on the website, typically requiring email, password, and other basic information. Modify Member Information: Members can update or modify their data on their personal profile page. Secure Member Data Storage: The system securely stores all member data. Delete Member Data: When necessary, administrators can delete all data associated with a particular member.

  1. Content Management System (CMS)

Using a CMS, you can easily add, edit, or delete content on the website. You can update text, images, audio, and video without requiring professional web design or editing skills.

  1. Information or Messaging System

Direct Interaction: When customers leave messages or inquiries on your website, you can respond to them directly, addressing their questions in real-time. Message Management: This includes viewing, posting, replying to, editing, and deleting messages, allowing you to manage customer interactions more effectively.

These functionalities together provide businesses with a comprehensive and powerful e-commerce platform to meet all the requirements of modern e-commerce.

Why can SEO successfully apply for the Technology Voucher Program (TVP)?

In the current digital age, Search Engine Optimization (SEO) has become a key way for businesses to gain online exposure, attract target customers, and maintain connections with existing customers. Therefore, SEO is not only a technical strategy but also a business development strategy.

Through professional SEO services, businesses can improve their website’s rankings in search engines, which is crucial for increasing website traffic, subsequently boosting conversion rates and sales. Furthermore, an optimized website can enhance user experience, improve brand image, and reputation.

Therefore, when small and medium-sized enterprises invest in SEO services through the Technology Voucher Program (TVP), they are actually investing in a strategy that can yield long-term returns, aligning perfectly with the goals and intentions of the TVP. Additionally, since the results of SEO efforts may take some time to materialize, businesses require long-term and professional support, making the TVP an ideal choice for funding such long-term investments.

10 Successful Examples of Technology Voucher Usage in 2021

Starting from 2020, facing the dual pressures of social movements and the pandemic, small and medium-sized enterprises (SMEs) in Hong Kong are encountering unprecedented challenges. However, many businesses have already begun to take advantage of the funding opportunities provided by the Technology Voucher Program (TVP) to upgrade and transform against the market trend. Below, we have compiled 10 successful cases of TVP applications and implementations in 2020, hoping to share their successful experiences.

The Technology Voucher Program (TVP) offers eligible Hong Kong businesses a 75% subsidy for upgrading and transforming their technology solutions, thus enhancing operational efficiency. Each company can accumulate up to HKD 600,000 in subsidy amounts, and recently, restrictions on “related organizations” have been lifted. If you are considering applying for TVP, you may want to consider hiring professional TVP consultants to assist you.

10 successful examples of using TVP for upgrading and transformation:

1. Hong Kong Printing Company Improves Digital Marketing Management System Using Technology Voucher

We are a professional packaging company, focusing on providing high-quality packaging products such as gift boxes to businesses. Our clientele spans across various industries, including jewelry companies, wine merchants, watch brands, and more, and our business extends not only within Hong Kong but also receives widespread recognition domestically and internationally.

Driven by the global trend of digital marketing, we have actively established various online promotional channels, including websites, social media, search engine marketing, and trade advertising platforms. However, each of these promotional channels generates a large volume of data independently, and the lack of effective integration and management of this data has become a challenge for our marketing department colleagues. They urgently needed a way to coordinate the data from various channels, assess promotional effectiveness, and formulate marketing strategies efficiently.

To enhance the management of digital marketing, optimize promotional efficiency, and make better use of big data in formulating marketing strategies, our management decided to introduce the Technology Voucher (TVP) program to assist us in improving our company’s systems. By configuring cloud-based big data systems and an automated digital marketing management platform, we can integrate data generated from different channels and achieve comprehensive performance optimization. This TVP program not only enables the marketing department to have a clearer overview of the overall online promotion landscape but also helps us formulate effective online and offline marketing strategies (O2O marketing strategies). Through the application of the TVP program, our company is better equipped to address the market challenges of the digital age and achieve greater business success.

2. Hong Kong Traditional Flower Shop Enhances Website and ERP System with Technology Voucher

From the name of a flower shop, you might associate it with a traditional business model. However, as modern consumers’ demands for quality continue to rise, the floral industry must also evolve. We are a company specializing in providing printing services such as gift box packaging to businesses. Our clientele includes jewelry companies, wine merchants, watch brands, and more, and our business extends across Hong Kong, domestically, and internationally. However, with digital marketing becoming a global trend, we deeply realized the need to keep up with the times and leverage modern technology to drive our business.

To meet the ever-changing market demands, we have established various online promotional channels, including websites, social media, search engine marketing, and trade advertising platforms. These channels have brought us more exposure and business opportunities. However, the abundance of data generated from different online channels presented us with a challenge: how to coordinate these channels, execute marketing strategies more effectively, and enhance overall business performance.

To address this issue, we decided to leverage the support of the Technology Voucher program to improve our internal systems. We invested in upgrading our Enterprise Resource Planning (ERP) system and received a 75% subsidy of the original cost. The upgrade of this system not only helps us manage logistics processes more effectively but also integrates data, providing more precise market analysis and strategy formulation. Additionally, we invested in SEO (Search Engine Optimization) promotion, optimizing our website content and structure to improve our rankings on search engines and attract more target customers.

Through the implementation of the Technology Voucher program, we have not only successfully improved internal process efficiency but also achieved more accurate market analysis and strategy formulation. Our marketing team can now have a clear overview of the overall online promotion landscape and formulate online and offline marketing strategies (O2O marketing strategy) more effectively. Simultaneously, our new website and optimized SEO strategy have attracted more potential customers, bringing us more business opportunities.

In summary, our story demonstrates how, with the support of the Technology Voucher program, we have leveraged modern technology to enhance our internal systems and improve overall business performance. We have not only better met customer demands but also gained a competitive advantage in a highly competitive market.

 

3. Clinic Utilizes Technology Voucher to Enhance Operations and Management

In Hong Kong, with over three thousand Western medical clinics, the need for modernizing clinic management systems has become increasingly urgent as traditional methods no longer suffice to handle the growing complexity of the healthcare environment. These clinics must not only meet the needs of patients but also effectively manage medical resources.

To address this challenge, many Western medical clinics have begun to leverage the Technology Voucher funding program to upgrade their clinic management systems into more modern and intelligent versions. The new systems not only efficiently manage medical resources but also offer specific features such as patient scheduling, medication sensitivity monitoring, and key medical history prompts to ensure patients receive higher-quality medical services.

However, this upgrade involves not only hardware and software improvements but also the support of network technology. Clinics require a robust website for patients to conveniently book appointments and inquire. Through Search Engine Optimization (SEO) promotion, the clinic’s website becomes more discoverable to patients, attracting more traffic and appointments.

This upgrade also involves data security and privacy. Medical information is highly sensitive, so the new systems need to comply with strict data protection standards, including encryption and firewall measures, to ensure that patients’ personal data remains confidential.

In conclusion, through Technology Voucher funding, Western medical clinics are able to achieve a comprehensive upgrade of their clinic management systems. Additionally, through website development and SEO promotion, they can better meet patient needs, improve service efficiency, and ensure data security and privacy. This successful example not only demonstrates the application of Technology Vouchers but also showcases how technology brings practical changes and improvements to the healthcare sector.

4. Jewelry Retailer Utilizes Technology Voucher to Establish Online Store and Mobile App for Increased Sales Channels

As a jewelry retailer, the company already had an informational website in place. However, the website’s functionality was limited, only allowing periodic posting of brochure content. To better meet the needs of modern consumers, the company decided to leverage the Technology Voucher funding program to bring about more innovation.

One of the goals of this program was to establish a modern online store to allow customers to conveniently browse and purchase the company’s jewelry products. Additionally, the company would develop a user-friendly mobile application to enable customers to shop and inquire easily on their mobile devices.

This online store and mobile app would be integrated into the same system, ensuring that customer data remains synchronized and manageable across different platforms. This would enhance the shopping experience, and customers would also have the opportunity to accumulate loyalty points, increasing their loyalty to the brand.

It’s worth noting that the company would also use this new system for more online promotional activities. This would include strategies such as keyword advertising, Search Engine Optimization (SEO), and social media promotion to expand the reach of their jewelry products, enhance brand awareness, and boost sales performance.

In conclusion, through the Technology Voucher program, the company aims to redefine its jewelry retail business in a modern way. This comprehensive solution will not only establish a strong online presence but also lead to more growth and success, better catering to the ever-evolving market demands.

5. Logistics and Freight Company Enhances Quoting and Ordering Processes Using Technology Voucher

In the field of logistics and freight transportation, the nature of traditional industries often requires significant manpower to handle the quoting process. This sometimes results in quoting times exceeding the actual delivery time, creating an asymmetrical situation. To address this issue, the new generation of leaders in a logistics and freight company decided to make improvements and implement innovative solutions with the assistance of the Technology Voucher program.

The core of the new solution involved establishing a modern logistics system while launching an online customer quoting platform. Through this platform, customers could easily submit quoting requests by logging into the official website of the logistics company. The system would automatically calculate the required costs and delivery times based on customer needs, making the quoting process more efficient and accurate. Furthermore, the system had established connections with several major freight companies to identify the most suitable shipping options and competitive prices, providing customers with more attractive choices.

This improvement not only saved manpower resources but also directly benefited customers. With the support of the Technology Voucher program, the logistics and freight company received substantial funding, alleviating cash pressure during economic challenges and providing robust resource support for the company’s modernization transformation.

In conclusion, with the assistance of the Technology Voucher program, this logistics and freight company successfully achieved a modern logistics system and an online customer quoting platform, offering customers more convenient and efficient services. Simultaneously, the company was able to stand out in a competitive market, improve business efficiency, and achieve sustainable development goals.

6. Restaurant Utilizes Technology Voucher to Enhance Food and Beverage Operations

In Hong Kong, the food and beverage industry is considered a highly significant sector. According to government statistics, there are approximately 18,000 eateries in Hong Kong, employing over 240,000 people. In recent years, with the continuous improvement of technology and the decrease in hardware costs, many large restaurant chains have adopted food and beverage management systems, including POS (Point of Sale) sales management, reservation and queuing systems, online ordering, and kitchen management functions. Notably, these advanced food and beverage systems are no longer limited to large corporations; even small tea houses and local eateries can achieve modernization through the Technology Voucher program to adapt to the changing times.

The traditional paper and pen order-taking method used in the past by small restaurants and tea houses is being replaced by modern iPad-based ordering systems. Nowadays, customers can even place orders using their smartphones with simple instructions, reducing the possibility of human errors and improving efficiency. The investment in technology has made ordering easier, faster, and enhances the overall dining experience.

With the support of the Technology Voucher program, many small food and beverage operators have been able to upgrade their systems, including the addition of company websites and SEO promotion, providing customers with a more convenient ordering experience. This modernization not only improves operational efficiency but also makes the restaurant more attractive, attracting more customers. This success story demonstrates that the application of technology vouchers can bring significant competitive advantages to food and beverage operators and promote the modernization of the entire industry.

7. Tutoring School Upgrades Administrative Management System and Adds Website with Technology Voucher

The operation of a tutoring school encompasses various aspects, including administrative staff, full-time and part-time tutors, as well as communication with parents and students. To manage these aspects more effectively, a tutoring school decided to implement a brand new administrative management system. This system aims to provide more convenient services, allowing parents to stay informed about students’ learning progress, homework performance, and school announcements through the school’s website or mobile application at any time. Simultaneously, tutors can easily access class schedules and effortlessly record student performance.

This improvement not only makes the school’s administrative work clearer and more accurate but also saves a significant amount of manpower resources, reducing the occurrence of human errors. Additionally, the school’s material and exam database plays a crucial role in the tutoring center. In the past, these important assets were protected only through hard drive backups, which were not sufficiently reliable. Now, with the support of the Technology Voucher, the school can introduce cloud technology to manage these material and exam databases, ensuring the security and reliability of company assets.

Through the funding provided by the Technology Voucher, the school was able to realize modern improvements such as adding a company website and conducting SEO promotion, further enhancing the efficiency and management level of the school’s operations. This story demonstrates how Technology Vouchers can promote the modernization of educational institutions, provide higher-quality services, and lead to more efficient school operations.

8. Laundry Shop Enhances Management System with Technology Voucher

Laundry shops have traditionally relied on customers’ receipts to locate garments, which can be a time-consuming process due to the variety of clothing items in the shop. This is especially challenging for orders that require dry cleaning and need to be transported to a laundry facility, as it can easily lead to the disorganization of customers’ clothing. To address this issue, one laundry shop chose to utilize the support of the Technology Voucher program and introduced a dedicated Radio Frequency Identification (RFID) management system. This system installs RFID tags on each laundry bag, allowing it to identify and track the precise location of each garment. Now, by simply scanning customers’ receipts, the system can display the exact location of the clothing, making the retrieval process more precise and efficient.

With the funding provided by the Technology Voucher program, the laundry shop successfully implemented the RFID management system, reducing the manpower costs that were previously required. Additionally, the introduction of this system significantly improved the company’s operations and enhanced overall productivity. Furthermore, with the support of the Technology Voucher, the laundry shop was able to establish a company website and conduct SEO promotion, further enhancing the customer service experience and strengthening connections with customers. This successful example demonstrates how the Technology Voucher program can assist traditional industries in achieving modernization, improving efficiency, enhancing service quality, and ultimately providing businesses with a competitive advantage.

9. Training Company Adopts Virtual Reality (VR) System with Technology Voucher

In recent years, Virtual Reality (VR) and Augmented Reality (AR) have experienced rapid development and have found widespread applications in various fields. In this context, a technology voucher applicant specializing in visual arts education decided to expand its business by offering more corporate training services. With the funding support of the Technology Voucher program, the company introduced a Virtual Reality (VR) system. This system not only significantly simplifies the creation of physical scenarios that used to require a considerable amount of time and resources but also allows for customization based on the learning needs of trainees.

In the past, creating physical scenarios was a time-consuming and resource-intensive process. However, now, through the VR system, this process has become more efficient. This not only saves time and costs but also enables virtual scenarios to be adjusted flexibly according to different training requirements. The same set of educational materials can be reused in various contexts, thus improving resource utilization efficiency. Additionally, the support of the Technology Voucher program provided the company with the opportunity to establish a company website and conduct SEO promotion, better promoting its VR training services to attract more potential customers.

This successful story illustrates how the Technology Voucher program can assist businesses in innovating in the rapidly developing field of virtual reality, improving efficiency, and, through company websites and SEO promotion, better promoting their services and gaining a competitive edge in the market.

10. Business Consulting Firm Utilizes Technology Voucher to Develop Appointment and Document Management System

The applicant is a professional business consulting firm serving listed companies, and their operations involve numerous sensitive and confidential documents, along with frequent meetings and communications with clients. In light of the social events and the COVID-19 pandemic in 2020, transportation disruptions posed a significant challenge, causing inconvenience to their business operations. To address these challenges, the consulting firm decided to develop an Appointment & Queueing system that allows clients to easily schedule meetings with consultants at their convenience. Additionally, the company developed a Document Management & Mobile Access system to efficiently, securely, and conveniently manage confidential documents.

It’s worth noting that these technological solutions not only helped the company adapt to the impacts of the pandemic but also brought about increased business efficiency and flexibility. The use of the Appointment & Queueing system enables clients to book meetings at any time and from anywhere, while the adoption of the Document Management & Mobile Access system ensures convenient and secure document management. Furthermore, these systems made remote work feasible, reducing the need for in-person interactions between employees and clients, effectively mitigating health risks and minimizing disruptions to business operations.

In the face of the current economic challenges, this is a moment to move forward. Through the above story, we share some successful cases of technology vouchers, with the hope of providing reference for businesses considering applying for technology vouchers. Now, once the application is submitted, technology voucher projects can be initiated promptly, allowing companies to benefit immediately. Feel free to consult with the technology voucher consultants at the Hong Kong Productivity Council to begin your journey of technological advancement.

Successful Technology Voucher Cases (2022)

5个科技券成功例子 |

Successful Technology Voucher Cases (2022)

Voucher Case (Retail Industry - Clothing Retailer)

BIL is a clothing retailer specializing in business attire and has been established for over 20 years. BIL’s clothing products include both in-house production and imported garments, and they currently have one warehouse and three retail stores. BIL’s existing point of sale (POS) system is over 20 years old and cannot integrate with modern electronic payment services such as Octopus cards and credit card terminals, limiting payment options for customers and BIL’s efficiency. Additionally, BIL lacks a customer relationship management (CRM) system to manage, collect, and utilize customer data. Therefore, BIL hopes to use the Technology Voucher Program (TVP) to establish a new online store and POS management system.

The features and expected benefits of the new system include:

  • Online Store: Through the new online store, BIL can sell suits online, and customers can also schedule in-store visits, providing the company with an online revenue channel.

  • POS Management System: The new POS management system can integrate with electronic payment services, improving payment efficiency and customer satisfaction. Employees can also generate barcodes for inventory management directly through the new system, enhancing overall operational efficiency for each store, including inventory management. The new system also includes electronic coupon and discount features, enhancing the company’s marketing capabilities and supporting the development of an online-to-offline (O2O) business model.

  • Customer Relationship Management System: The new system helps BIL manage customer data, such as setting up customer memberships, recording all relevant customer information, setting discounts, and viewing customer order records. BIL can more effectively manage and utilize customer data, improving business quality and increasing revenue.

BIL’s existing POS system only has basic functionality and is outdated, making it impossible to update or maintain. Therefore, BIL needs to use TVP funding to purchase the new system to continue its operations and development. In the end, we successfully applied for approximately HKD 260,000 in TVP funding.

Advertising Media Production Company

Our client is engaged in outdoor advertising media production. Mr. Li is the director of the company. In August 2018, he learned that the Technology Voucher Program (TVP) had relaxed its application eligibility criteria. His company had just been established for three months, with monthly revenues of less than HKD 30,000. He decided to submit a TVP application on his own. Due to his lack of experience in applying for TVP, the government requested multiple clarifications on various project details, which left him quite confused. Considering giving up the application would have been time-consuming, and he wasn’t sure when it would be approved. In February 2019, he found Hong Kong Funding Consultants Limited on the internet.

The Technology Voucher Consultants at Hong Kong Funding Consultants Limited helped Mr. Zhang’s company develop a customer relationship management system (CRM) that aligns with his company’s processes. The CRM system assists in managing data for over 200 clients. The CRM also includes an accounting system that accurately tracks the company’s monthly income, cash flow, accounts receivable, and more. The project was approved in June 2019, and it was successfully implemented.

Exhibition Operations Service Provider

Hong Kong Funding Consultants Limited’s client is an exhibition operations service provider that aimed to establish an online platform for comprehensive management for both exhibitors and visitors. Initially, they attempted to apply for funding through the Technology Voucher Programme (TVP) on their own but found the process to be complex and challenging to navigate. They also realized that obtaining multiple TVP quotations was not straightforward. As a result, they attended various TVP seminars but achieved no significant progress. It wasn’t until they encountered Hong Kong Funding Consultants Limited that they received detailed explanations on every aspect, including funding details, eligibility criteria, scope of application, considerations, approval procedures, and e-commerce strategies. The consultants provided a deep understanding of how the system could improve operations and enhance the company’s competitiveness.

From filling out the TVP application form to completing the entire project, it took approximately nine months, and they received approximately HKD 180,000 in government funding. The project’s operations went smoothly, and the client was not only highly satisfied but also prepared to undertake the second phase of development to expand into the Mainland Chinese market. Hong Kong Funding Consultants Limited also serves as the designated consultant for the BUD Mainland-specific fund program, further enhancing their promotion in the Mainland market.

Logistics and Packaging Company

Hong Kong Funding Consultants Limited’s client is a logistics and packaging company that aimed to establish a system for its food clients to monitor logistics progress through an online platform. Due to the substantial investment, which amounted to nearly HKD 300,000, they sought to reduce costs by leveraging the Technology Voucher Programme (TVP). Hong Kong Funding Consultants Limited recognized the international aspects of their industry upon initial contact, leading to extensive meetings to ensure that the client fully complied with the Hong Kong government’s funding policies. Additionally, enterprise resource planning systems (ERPs) related to their industry were relatively uncommon in Hong Kong. Therefore, with the extensive information technology network of Hong Kong Funding Consultants Limited, several suitable TVP suppliers were identified.

The logistics client completed the entire project in approximately eight months and received approximately HKD 200,000 in government funding. Their largest food client was highly satisfied with the new system and actively considering the logistics company’s services for other business areas.

A Tea Restaurant with a 10-Year History in Hong Kong

For a tea restaurant with a 10-year history in Hong Kong looking to utilize the Technology Voucher Program (TVP) to improve its operations, here are the successful TVP application initiatives:

  • Queue Management System: By implementing a queue management system, the restaurant can effectively reduce customer waiting times, thereby increasing customer satisfaction.

  • QR Code Ordering: By offering QR code ordering services, customers can place their orders directly via their smartphones, saving time and improving efficiency.

  • Personnel Management System: Utilizing a personnel management system helps in efficiently managing employees, including aspects such as payroll, working hours, and vacations. This can reduce labor costs and enhance efficiency.

Through their TVP application, this tea restaurant has already received over HKD 250,000 in funding support, enabling them to invest in technological improvements aimed at enhancing the customer experience and strengthening the restaurant’s competitiveness.

Printing Industry Manufacturer

Hong Kong Funding Consultants Limited’s client is a printing factory with over twenty years of history. While many consider printing to be a declining industry, the owner still believes there is great potential and plans to expand operations in mainland China. Hong Kong Funding Consultants Limited assisted the factory in applying for the BUD Mainland-specific fund program. The client didn’t need to worry about the lengthy application documents and proposals, but rather needed a clear understanding of the relevant details and responsibilities. They collaborated with the relevant department’s BUD fund application procedures, submitted the application promptly before the end of the quarter, and successfully obtained approval. They have since established their brand and conducted marketing promotions in mainland China, aligning perfectly with the BUD (Branding, Upgrading, and Domestic) principles.

A 3-Branch Chinese Restaurant

In February 2018, Hong Kong Funding Consultants Limited applied for a restaurant POS system, a food delivery app, and an official website for its client, a Chinese restaurant owner named Mr. Lee, who had been in business for three years. Due to a large number of customers, the restaurant used to take orders manually, resulting in frequent errors and missed orders. This led to customer complaints, and the staff often faced difficulties. To address these issues, Mr. Lee applied for funding through the Technology Voucher Program (TVP) to purchase a POS restaurant management system, a food delivery app, and an official website for his restaurant.

However, the application process was extremely complex, and obtaining three quotations proved to be a challenge. After struggling to complete the application and submitting it, Mr. Lee later discovered that some documents were missing and had to be resubmitted. After waiting for five months without approval, he was on the verge of giving up. At this critical juncture, a friend introduced him to Hong Kong Funding Consultants Limited, a TVP consultancy firm.

Our consultant team first assessed the restaurant’s operational situation and introduced suitable restaurant system suppliers based on the restaurant’s needs and processes. We then assisted Mr. Lee in gathering all the necessary information for the TVP application and completed the application form. In February 2019, the project was successfully approved for an amount exceeding HKD 300,000. Mr. Lee was highly satisfied with the assistance, and the POS system proved to be of significant help to his restaurant.

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