ReTAAS has been closed for new application from 1st April, 2021.
You should consider the TVP (Technology Voucher Programme).
ReTAAS Common Questions
The ReTAAS is a dedicated funding scheme for Hong Kong retail industry, and the following is some common question about the Scheme.
ReTAAS stands for “Retail Technology Adoption Assistance Scheme for Manpower Demand Management”. It is a HKSAR government fund to help the retail companies to apply manpower management technology to increase productivity. The Hong Kong Productivity Council is the ReTAAS Secretariat.
All non-listed Hong Kong companies with substantive retail business in Hong Kong. For retail operation, a company should show employments, agreements, locations etc to prove the eligibility. ReTAAS is also available for Online Shop.
The ceiling grant is HK$ 50,000 for one company. ReTAAS will grant 50% of the project cost for each application, and a company can apply at most 2 times.
Technology system that helps enhancing manpower demand management. For example, POS System (Point-of-sales), online shop, digital payment system, inventory system, security and surveillance system etc
A retail company should submit the application to the HKPC (the ReTAAS secretariat) with complete project planning and budget. The Secretariat may need the applicant company to clarify for approval. After the application approved, the applicant can start the project and finish within 6 months. Then the applicant should submit the audit and final report for approval again. Once the reports approved, ReTAAS will provide the payment.
In general, it takes 50 – 90 days for approval after the application submission.
Yes, certainly. Nevertheless, a government funding consultant can help you to do it more smoothly.
Reference: ReTAAS Official site
- Know more about Intellectual Property
Whenever our consultants mention the importance of intellectual property (IP), most clients response: it is only for big corporation. Indeed we have a lot of tool in commerce to avoid potential risk, such as commercial insurance and intellectual property etc. Think about it, an employee demands million dollars as compensation to industrial accident and you … Read more - Review: Gov Fund seminar
Previously BizMagnet government funding consultant and HSBC Business Go co-organized the seminar “Latest government funding and bank loan strategy”. In the event, we share the latest situation of BUD Fund and TVP with the audiences. HSBC Business Go is a B2B artificial intelligent digital sharing platform under HSBC Group. BizMagnet is also a business member … Read more
- BUD Fund increases to HK$7m
According to the BUD Fund official website, effective from 7th Nov 2022, the cumulative ceiling for every eligible enterprise increases from HK$ 6,000,000 to HK$ 7,000,000; while the maximum number of approval increases from 60 to 70. At the same time, the EMF also increases to HK$ 1,000,000. The Chief Executive gave his first policy … Read more
