Technology Voucher Programme (TVP)

Technology Voucher Programme (TVP) in HK

Have a plan to enhance the IT process and infrastructure of your business? A local Hong Kong business may apply funding through the Technology Voucher Programme (TVP). But how do you apply for funding?


Technology Voucher Programme (TVP) is a funding programme under Hong Kong’s Innovation and Technology Fund from Innovation and Technology Commission (ITC). The funding ceiling per application is HK$400,000.

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



OUR SERVICES INCLUDE:

Prism can provide consulting and auditing services, and help enterprises in all five stages below.

  • 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 two-third of the actual cost of the project