[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.

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