HONG KONG SAR – 3 February 2021 – The “Technology Voucher Scheme” of the Innovation and Technology Commission is the most popular government subsidy scheme for businesses in Hong Kong. In order to facilitate applicants to adopt relevant technology services or solutions as soon as possible, the Innovation and Technology Commission will relax the requirement that applicants for “Technology Vouchers” must obtain approval from the Commission before starting projects from June 1, 2020.
All applicants can start the project as early as the day after submitting the application and expect to use information technology solutions such as online business as soon as possible to find the latest way out in the epidemic. The Innovation and Technology Commission has included technology voucher as the next regular funding scheme of the Innovation and Technology Fund. The funding limit for each applicant is 600,000 yuan, and a maximum of six projects can be approved, and each project should generally be completed within 12 months.
Co-Wealth knows that SMEs often encounter a lot of financial difficulties when they develop rapidly, and it has always been the purpose of Co-Wealth to assist SMEs to achieve their goals and find a successful business path. In view of this, Co-Wealth will launch a free application consultation service for businesses and provide customized solutions that meet the eligibility criteria at a reasonable price, so that SMEs can better understand the details of the funding program and be able to The funding is used in retail and online stores.
For companies eligible to apply for technology voucher, they must meet the following requirements:
- The company must be incorporated in Hong Kong in accordance with the Business Registration Ordinance (BRO) or the Companies Ordinance or relevant regulations of statutory bodies.
- The company must not be a government-affiliated organization or a subsidiary of any government-affiliated organization. Government branches are companies that often receive subsidies from the government.
- he company must carry out substantive business in Hong Kong. During the technology voucher application period, the substantive business operations must be one or more projects. Companies registered as a shell company are not eligible.
- The company must be an unlisted company.
Before applying, you need to prepare the following documents listed in the Technology Voucher Application Guidelines: Only a Hong Kong company in actual operation can apply (regardless of whether it is a limited company or an unlimited company). The actual operation certificate should be attached when submitting the application: including the receipt of the last three months, Invoices and MPF contribution records, company business registration, equity certificates, etc.
Due to the impact of the epidemic, the Innovation and Technology Department will be significantly slower in processing applications in 2020, so while waiting for approval, it will also collect actual operating documents every month; if the business registration and other documents are due to be updated during the waiting period, they must also be prepared to update version. The Innovation and Technology Administration will require the applicant companies to submit the latest documents when the approval is close to success, so that they can quickly respond to prescription requests if they are prepared in advance. The Innovation and Technology Commission will notify the applicant of the assessment result in writing.
Under the TVP technology voucher program, as long as companies use technology services and solutions for upgrading and transformation, they can apply for SME funding, and the government will bear 3/4 of the expenditure for the technology voucher project (that is, enterprises only have to bear 1/4 of the project cost), the maximum amount of funding is HK$600,000. However, from technology voucher application to project management, if the company does not have an accurate understanding, it will have to bear the risk that the application is difficult to be approved or the project is difficult to end.
To quickly realize the upgrade dream, Co-Wealth Technology Voucher Consultants can do the work for SMEs. The company gathers funding consultants and technology professionals, from technology voucher funding applications, technology supplier network support to technology voucher project management, professional advice, allowing SMEs to control the complex application procedures and technology expertise and take the lead. Co-Wealth has a wealth of experience as consultants for government-funded projects, grasps the latest information on various funding support for SMEs, and formulates a number of best funding applications to maximize funding and funds are available soon.
However, it is worth noting that the funding will be divided into two phases. Successful applicants can apply for the first phase of funding. After verifying the relevant documents, the Innovation and Technology Commission will issue the first phase of funding not exceeding 25% of the approved funding amount for the project. 75% of the final grant will be issued to applicants after the project is completed and the final project report is accepted. In addition, if the project is successfully funded by the Technology Voucher Scheme, the expenditure under the project cannot accept funding from other local public funding sources.
Finally, Co-Wealth partners are: 1. In addition to providing customers with online store opening services, i-Maker also has other different professional services, such as technology voucher, technology voucher program, technology voucher provider, and ReTASS retail industry subsidy program, BUD Special Fund, SME Marketing Fund (EMF) and Business Partner Program and other government funding, technology voucher consultants can help customers establish online business, SME funding, apply for government funding, and explain the technology voucher application process and technology voucher common problem. i-Maker is also a professional website design and web design company, web page production, SEO search engine optimization, SEO company, digital marketing, online advertising, APP development, APP writing, APP production, APP writing company, IT services, WhatsApp automation software, Chat messages, Google map optimization, my business optimization, company opening, company registration (opening limited company, establishing limited company, opening unlimited company, unlimited company registration), virtual office (virtual office service), opening company account (business account)etc. 2. Flint Ideas Design Printing limited uniform company can also help customers provide printed shirts, printed tee, team shirts, windbreakers, custom-made windbreakers, custom-made uniforms, Polo shirts, custom-made Polo shirts, sweaters, custom-made sweaters, Pullovers, hooded sweaters, zippered sweaters, zippered pullovers, baseball jackets, cardigans, nurse uniforms, aprons, caps, custom-made hats, sportswear, sweatshirts, jerseys, sublimation jerseys, canvas bags, gifts, souvenirs, advertising cups, water bottles, trophies, crystal trophies, custom-made trophies, lanyards, pennants, commemorative flags, etc. There is also a windbreaker specialty store, which designs windbreaker jackets, windbreaker uniforms, 2-in-1 windbreakers, 3-in-1 windbreakers, sports jackets, sublimation windbreakers, baseball jackets (custom-made baseball jackets), down jackets, reflective jackets and other tailor-made windbreaker services.
3. Carol Interior Design and decoration company can also help customers provide decoration design, interior design, interior decoration, home decoration, home design, decoration engineering, commercial decoration, office cleaning/office cleaning, pest control services, removal of formaldehyde, atomization and disinfection , Demolition of unauthorized construction and minor projects etc., to create different home design styles such as Japanese style, simple style, Nordic style, industrial style, mix and match style, country style, classic style, American style, which are also used in dining room design, living room Design, bedroom design, bathroom design, study design, room design, kitchen design, toilet maintenance and children’s room design, to give customers a satisfactory home. 4. Dr Pest control and pest control company has a professional pest control team that is committed to providing customers with different pest control services. The purpose is to ensure that the environment in which customers live or work is properly protected. Many pest control services include major industrial and commercial institutions, Government departments, restaurants, manufacturers and residences. The Dr Pest control Co’s pest control service team has received professional training and is familiar with the characteristics of pests, so that they can play the effect of pest control. They have many years of practical work experience and professional knowledge in pest control. Maintaining good service quality is an important cornerstone of the pest control company. Pest control services include mosquito control, ant control, cockroach control, rat control, termite control, and bed bug control. In addition, formaldehyde removal service, nano-natural disinfection service (atomization disinfection company) and post-renovation cleaning (cleaning company) are also provided. 5. The interior design of Daiku Design has designed many decoration design plans for customers, cooperating with home decoration, shop decoration, office decoration, custom-made furniture, furniture design and other indoor decoration projects to create a comfortable working and living environment. In addition, it will also undertake minor works such as the demolition of unauthorized structures.
The professional business consultant/corporate consultant team of Co-Wealth Management Consultant Limited has more than 5 years of experience in applying for government subsidy schemes. It provides professional consultation services for SMEs in Hong Kong to apply for government subsidy schemes. The technology voucher advisory service covers different types of government subsidy schemes. As of mid-2019, Co-Wealth has assisted more than 300 Hong Kong large, small and medium enterprises and organizations to apply for various government funding funds to help them make good use of government resources and enhance the company’s market competitiveness. In addition to this service, the independent financial advisors of Co-Wealth Financial Consultants also provide other services such as insurance, medical insurance, group medical treatment, labour insurance, employer opening MPF accounts and company opening MPF accounts, and there are also IT services such as web design, website production, whole APP, APP production and other diversified services.