Technology Voucher Programme launched as a pivot programme in 2016. It became regular in Feb 2019. Local businesses which fulfill the basic requirement (e.g. substantive operation, non-listed etc) can submit TVP application to the Innovation and Technology Commission (ITC). Successful applicants can enjoy the matching fund for 75% of their IT project cost, with a ceiling of HKD 600,000.
BizMagnet has already provided TVP consultation service to more than hundred enterprises. We edit this “FAQ” regard to the latest situation to those who aim at TVP or IT suppliers. BizMagnet welcome any inquiries.
Further reading: TVP Funding for dummies 2022
Yes. Individual proprietorship, partnership, limited company and NGO can all apply for the TVP.
According to the standard procurement process, applicant should provide certain number of TVP quotation, corresponding to the project cost. Nevertheless, due to special reason, for example an enhancement from the original system, applicants can explain to the authority case by case.
In general, applicants must choose the cheapest quotation. However, due to special reason, for example a better service, applicants can explain why they choose not the cheapest one.
The TVP only supports technology system and necessary hardware for system operation. For example, the terminal of a Point-of-Sale system. And the cost of the necessary hardware cannot exceed 50% of the total. Moreover, general computer, printers and office software are not supported by the TVP.
TVP applicants should complete the entire project (both the system and the payment) and obtain a project audit report by certified accountant to claim the TVP fund.Therefore applicant has to pay 100% of the project cost first before get the 75% from the matching fund.
The TVP supports all customized projects that reasonably enhance the productivity of the business. Common TVP successful cases include Point-of-Sale system, enterprise resource planning system (ERP), online shop etc. There was also a company with cold stores that grant to build temperature monitoring system by the TVP.
The business should authorize an employee to sign the agreement with the Authority and act as the contact point. Therefore, the business can apply for the TVP even if the major shareholder or the director is not in Hong Kong.
