Eligibility for Technology Voucher Program (TVP)
The Technology Voucher Programme (English: Technology Voucher Programme, referred to as TVP) was launched in November 2016. The purpose is to assist Hong Kong companies or organizations to improve their overall productivity, improve service quality, and transform their businesses through technology applications. After years of various optimization measures, the Technology Voucher (TVP) now provides 75% of the spending on technology systems for Hong Kong companies with substantial business, accumulating up to 600,000 yuan.
The eligibility requirements for the program have been relaxed as follows:
- Company with valid business registration or incorporated in Hong Kong
- Proof of substantive operation
- Non-listed companies or government-funded institutions
The actual operation certificate includes
- MPF MPF Contribution Record
- Business contracts, receipts and invoices
- Audit reports and tax bills, etc.
Since the technology voucher program is not a venture fund, it requires companies to have a certain operating basis. Too little turnover, no employees or no relevant business experience may lead to failure of the application.
3:1 pairing mode
Complete within 12 months
Up to 600,000 per enterprise
Documents required for application of the Technology Voucher Scheme
- Business Registration Certificate (BR)
- MPF contribution records for the past three months (signature and stamp required)
- Annual Return (Natural Person Shareholder) (Signature and stamp required)
- Have a copy of the documentary proof of the actual business operation in Hong Kong, and the business must be related to the application item (for example, invoices/receipts or commercial contracts issued within the last three months)
- Copy of valid Hong Kong ID card or passport of the person signing the application form on behalf of the applicant company
- A copy of a valid Hong Kong ID card or passport of a person with 30% or more ownership
The scope of funding for technology vouchers
- Buying, renting or ordering is an essential part of the projectCustomizedEquipment/hardware, software and technology services or solutions
- Buying, renting or subscribing toNecessary components of the projectofReady-madeEquipment or hardware, software and technology services or programs. But the cost of these equipment/hardware or software or services or solutions，Should not exceed 50% of the project cost
- Project audit (only applicable to projects with approved funding of more than HK$50,000), the audit fee is capped at HK$3,000
According to the Technology Voucher Application Guidelines, the following are supported items to help companies increase productivity or improve process flow:
- Appointment & queuing system (Appointment & queuing system)
- Augmented Reality Technology System (Augmented Reality, AR)
- Big data & cloud analysis
- Building information modeling (BIM)
- Computer-aided design (CAD)
- Clinic management system
- Document management and mobile access system (Document & mobile access)
- Electronic inventory management system (Inventory management)
- Procurement management system
- Enterprise Resource Planning (ERP)
- Fleet management
- Intelligent robot (industrial robot and service robot) application (Intelligent robot)
- Location based service (LBS)
- Logistics management system
- Point of Sales Management System (Point of Sales, POS)
- Product management system
- Quick response management (QRM)
- Real-time manufacturing tracking system (Real-time manufacturing tracking)
- School management system
- Solutions to assist companies in meeting production standards (Manufacturing standard compliance)
- and so on
There are also testing and certification, environmental protection related items:
- Energy Management System (ISO50001)
- Environmental Management System (ISO14001)
- Information Security Management System (ISO/IEC27001)
- Chinese medicine testing program
- Energy Management System
- Waste management technology
The process of applying for technology voucher
Evaluation Criteria for the Technology Voucher Scheme
- Whether the proposed project is related to the applicant’s business－The project should be expected to enhance the competitiveness of applicants by improving productivity, developing/expanding business, reducing costs or improving efficiency, and upgrading and transformation.
- Is the budget reasonable－The Technology Voucher Project Committee or the Innovation and Technology Commission will make an assessment with reference to the market price of the relevant technology known to it. Each expenditure item must be necessary and directly related to the implementation of the project.
- Whether the implementation details are reasonable－Considerations may include whether specific project results have been set. In addition, due to factors such as the complexity of the project’s technology and project duration, the implementation details should be practical and feasible.
- The Technology Voucher Project Committee and the Innovation and Technology Commission are aware of the relevantBad records of consultants and/or service providers(If any).
Technology voucher project launched
Applicants can start the project on the day after the application is submitted, and need to submit a “Declaration and Undertaking” to the Innovation and Technology Commission within 5 working days. It should be noted that if the application fails or the funding is insufficient, the government will not be responsible for the remaining costs, and the enterprise needs to bear it. At this point, companies applying for technology coupons need to be aware of risks. Of course, companies can also start the project after the application is approved, without submitting a “declaration and undertaking.” Generally speaking, it takes 6 to 8 months to apply for technology voucher TVP.
Technology Voucher Appropriation Process
If the technology voucher (TVP) application is approved, the applying company can choose to receive the initial funding, which is 25% of the funding amount, but it is necessary to open an independent corporate bank account dedicated to the technology voucher program. The procedures are more troublesome. Applicants Need to pay attention to this arrangement. When the technology voucher project is completed, the enterprise also needs to submit the final result report and audit report. After the Innovation and Technology Department accepts the final report and audit report, the approved funding balance/full amount will be issued within 6 to 8 weeks (if there is no initial funding).