The Government released some data of the BUD Fund on 8th May 2023, and BizMagnet BUD Fund consultant is about to share.
The BUD Fund was established in June 2012. Up to Feb 2023, there are about 5,700 applications approved and 4,100 enterprises reimbursed. The total released fund is about 3.4 billion HKD. In average, the authority approves 530 cases annually and each enterprise is granted HKD 830,000.
As our consultant expected, the number of BUD Fund application will increase after the resumption of normalcy.
(Further reading: Government Funding 2023)
The press release interviewed a food manufacturer how the BUD Fund helped improving its efficiency and sales. At the same time, the Government emphasized to inspect cases to avoid the abuse of funding.
Gov News: Fund helps firms seize opportunities