The Technology Voucher Programme (TVP) was founded in 2016 to support local businesses, NGOs and charities to improve efficiency and competitiveness with the use of technology. Every eligible company or organization can claim 75% of the IT project cost and it can be granted for 6 times. The total subsidy is HK$ 600,000. How to apply the TVP? BizMagnet consultants have some brief of the flow here. In case you need to know the detail, please read our TVP application guideline.
The application flow of the TVP is as below:
The whole process must be in series, or otherwise the application fails. We should go through the application guideline before any application. Consult some professional if necessary.
Before applying for the TVP, we should clarify the eligibility first. In general, the Authority considers the following:
- Substantive business of the applicant
- Qualification of the IT project
- Effectiveness of the IT project in enhancement
Reminder: BizMagnet consultants can generally determine the eligibility within 15 minutes.
If you are not certain of the eligibility, don’t start any application.
We may start procurement once the eligibility confirmed. Unlike other government funding like the Export Marketing Fund, applicants have to collect all required quotation due to standard procurement process before application. The applicant should also choose the lowest bid.
Reminder: Though should have chosen the vendor during the application, the applicant should not start the project nor deposit to the vendor.
BizMagnet provides an article about how to get TVP quotation.
One all documents are ready, including the proof of substantive business, quotations and proposal, the applicant may submit the application on the TVP website. In general, the Authority may have questions and the representative should answer them in person.
Warning: no consultant should answer the questions on behalf of the representative. It is because the applicant has already claimed to answer all in person. It is a criminal offence to allow some other to act.
From the next day of online submission, the applicant can commence the project in prior to the approval. One advantage of early commencement is that it saves time (around 4 to 6 months, data in Mar 2023). However, if the application fails or in short, the applicant should bear all or part of the project cost.
Once the TVP application is approved, we may go to the HKPC to sign the agreement. Early commencement or not, the applicant should provide the final report and the audit report after project accomplishment. The Authority may have questions on the reports or inspect on site. The reimbursement (75% of the IT project cost) will be deposited into the company bank account after all.
Please read our TVP application guideline or ask BizMagnet.