As announced in the 2020-21 Budget, the Government will further enhance the Technology Voucher Programme with effect from 1 April 2020 to further assist enterprises in making use of technology to improve their business operation and enhance their competitiveness. The Government’s funding ratio in each approved project will be raised from two-thirds to three-quarters. The funding ceiling will be increased from $400,000 to $600,000 and the maximum number of approved projects per applicant would be increased from four to six.
What is TVP?
TVP supports projects in the form of technological services and solutions which could improve productivity, or upgrade or transform the business processes of the applicant.
The TVP aims to subsidise local Hong Kong companies on the use of technological services and solutions to improve productivity, or upgrade or transform their business processes, in order to enhance their long-term competitiveness.
The program has now been incorporated into the constant funding scheme of the Innovation and Technology Fund, with the amount of funding ceiling per applicant being increased to HK$600,000 and the eligibility of the program expanded to cover all non-listed local enterprises of all sizes instead of just SMEs only.