Technology Voucher Programme (TVP)

The main objective of the Technology Voucher Programme (TVP) is to subsidize Hong Kong’s local small and medium enterprises to develop technological services and solutions. When using better technologies, local companies can:

1. Improve productivity

2. Upgrade and/or transform business processes

3. Maintain long term competitiveness

For companies to be eligible for the application of TVP, they must fulfill the following requirements:

• The company must be incorporated and registered in Hong Kong under the Business Registration Ordinance (BRO), or under the Companies Ordinance, or by relevant ordinances as statutory bodies.

• The company must not be a government sub-vented organization or a subsidiary of any government sub-vented organization. A government sub-vented organization is a company which receives subvention from the government on a recurrent basis.

• The company must have substantive business operation in Hong Kong. The substantive business operation must be a project or projects during the time of the TVP application. A company which is a shell business registration is not eligible.

• The company must be a non-listed enterprise.

Some examples on how a company can use the TVP funds include:

• HR process re-engineering

• Inventory management system

• Cloud ERP system

• Purchase POS system

• Logistic management system

• Online sales system

• Customer relationship/information management system

• Online shop

• Ecommerce Platform

• Online hotel booking system

• Online travel agency website

• Insurance brokerage system

• Cloud-based crowdfunding platform

• And many more

Technology Voucher Programme (TVP) Application Process

The application to TVP consists of five stages:

• Stage 1: Required Documents Preparation and Application Submission

• Stage 2: Assessment of Application

• Stage 3: Notification of Results

• Stage 4: Project Implementation

• Stage 5: Disbursement of Funding

Stage 1: Required Documents Preparation and Application Submission

• Prepare the required documents for the Technology Voucher Programme application.

• Register the applicant company with the Technology Voucher Programme Funding Administrative System.

• Submit the TVP application.

• Provide Copy of Business Registration (BR) Certificate, copy of Form 1(a) of BR Office or Form NAR1 of Companies Registry.

• Provide evidence of substantive business operation.

• Provide Copy of identity proof of signatory on application form.

• Provide Copy of BR Certificate of technology consultant.

• Provide Copy of quotations for expenditure items.

Stage 2: Assessment of Application

• Establish the relevance to business of the applicant.

• Establish the reasoning of budget and implementation details.

• Provide adverse record of the technology consultant and/or service provider.

Stage 3: Notification of Results

• When the TVC application succeeds and before the project can commence, a funding agreement will have to be signed with ITC.

Stage 4: Project Implementation

• The project is to be completed within 12 months. A final project report will be prepared for submission.

Stage 5: Disbursement of Funding

The applicant enterprise is required to submit the following documents with two months after the completion of the TVP-funded project:

• The final project report

• Evidence/proof of deliverables (from the project)

• For each expenditure item (for the TVP project), submit the original or copy receipts. When the approved fund exceeds HK$50,000, a qualified and independent auditor (such as Prism Consultancy) must submit an audited statement of expenditure to ITC. When the approved fund is below HK$50,000, the applicant enterprise is required to submit and declare a final statement of expenditure.

• Proof of funding for no more than 75% of the actual cost of the project

Prism Consultancy's Services:

If you need to enhance the technology aspects of your business through the following, Prism Consultancy is more than capable to assist:

• Search Engine Optimization: When you have a website for your business, you want the website to be seen on the first page of Google. So your customers can quickly find your business when they perform keyword searches on Google (on services you can provide or products you are selling). To get the most out of Google, you should also ensure your business gets the visibility on Google Maps and enables reviews from users. Check out our Hong Kong SEO service which includes improving the ranking of keywords of your website on search engines, and getting your business the visibility on Google Maps with user reviews i.e. local SEO through Google My Business.

• Website Development: Development/design of your website can be based on a third-party CMS (content management system) such as Wordpress, Shopline, Shopify, or more. Company websites with the main objective to get online visibility can be developed using Wordpress. Shopping / eCommerce websites can be designed and created quickly with Shopline or Shopify. In some cases even when you are selling products online, your website can be developed through a Wordpress website.

Please contact us:

• Email: info@companyincorporation-hongkong.com

• Phone: +852 34645200