As the digital economy rapidly evolves, more businesses are recognizing the importance of digital transformation. The Hong Kong government’s “Technology Voucher Programme” (TVP) is a key funding initiative designed to help businesses enhance their competitiveness and promote digital transformation.

The “Technology Voucher” is a funding program launched by the Hong Kong Innovation and Technology Commission to assist local businesses in improving productivity and competitiveness through the adoption and application of technological solutions. Each business can receive up to HKD 600,000 in funding, covering up to 75% of the project costs, and can apply for a maximum of six projects.

How to Apply for the “Technology Voucher”?

1. Identify Suitable Projects
   Before applying for the “Technology Voucher,” businesses need to identify appropriate technology projects that are related to improving productivity or competitiveness. Examples include adopting a new ERP system, designing a new website, or conducting data analysis.
2. Prepare Application Materials
   During the application process, businesses must prepare a set of documents, including a detailed project proposal, budget report, and quotations from suppliers. Additionally, they need to provide their business registration proof and recent financial statements.
3. Submit the Application
   All applications must be submitted online through the official “Technology Voucher” website. After submission, the Hong Kong Innovation and Technology Commission will review the application, typically providing initial feedback within 4 to 6 weeks.
4. Manage the Project
   Once funding is approved, businesses can begin implementing the project. During this period, they need to record all expenditures and progress, and regularly submit reports to the Innovation and Technology Commission.
5. Reporting and Acceptance
   Upon project completion, businesses must submit a final report, including project outcomes and financial statements. The Innovation and Technology Commission will then review the project and disburse the remaining funds based on the actual situation.

How to Increase Your Chances of Success?

1. Select Suitable Technological Solutions
   Ensure that the chosen technology project can effectively improve your business’s productivity and competitiveness and falls within the scope of the “Technology Voucher” funding.
2. Thoroughly Prepare Application Materials
   The more detailed the application materials, the easier it will be for reviewers to understand the project’s value. The specific content and expected outcomes of the technology plan should be clearly stated.
3. Seek Professional Advice
   If unsure about how to prepare the application, consider seeking help from professional consultants to ensure a smooth application process.

Conclusion

The Technology Voucher Programme offers businesses a valuable opportunity to pursue digital transformation at a relatively low cost. By following the above application guide, your business will be better positioned to secure “Technology Voucher” funding, laying a solid foundation for future growth.

If you want to learn more about the “Technology Voucher” or need professional consulting assistance, please visit our Technology Voucher service page.