What is TVP Funding?

[Update] From 1st June 2020, applicants can commence a TVP project before approval. They can start the project on the following day after application submission. Applicants should submit “Declaration and Undertaking” to the ITC not no later than 5 working days after the project commencement.

TVP is the abbreviation of the Technology Voucher Programme. The Innovation and Technology Commission launched the Technology Voucher Programme in 2016 as a pilot basis and changed to a regular basis in February 2019. The maximum funding for each eligible enterprise is HK$400,000.

Autus is the expert of TVP Fund application. 

Introduction to TVP fund

To enhance competitiveness of local small and medium enterprises (“SMEs”), the Technology Voucher Programme (TVP) aims to subsidise SMEs on the use of technological services and solutions to improve productivity, upgrade or transform their business processes. Funding up to $600,000 for each eligible enterprise will be provided on a 3:1 matching basis. The applicant enterprise must contribute no less than one third of the total approved project cost. In other words, funding on no more than two-thirds of the total approved project cost will be provided to an applicant enterprise on a reimbursement basis based on the actual project cost.

Eligibility

1. Local entities (except listed enterprises) fulfilling the following requirements are eligible to apply for funding under the TVP:

   	(a)(i)	Registered in Hong Kong under the Business Registration Ordinance (Cap. 310); or
   	(a)(ii)	Incorporated and registered in Hong Kong under the Companies Ordinance (Cap. 622); or
   	(a)(iii)	Established in Hong Kong by relevant ordinances as statutory bodies; AND
   	(b)	Not a government subvented organisation or subsidiary of any government subvented organisation*; AND
   	(c)	With substantive business operation in Hong Kong which is related to the project under application at the time of application.

Source: The Innovation and Technology Fund – The Innovation and Technology Commission (https://www.itf.gov.hk/l-sc/TVP.asp)

Required document for TVP application

• Business registration certificate
• Form NAR1 of the Company Registry
• Substantive business operation proof
• Invoices
• Identity document of signing person
• Probity and non-collusion of quotation/tender certificate
• Application form

TVP application procedure

*Chinese only

Submission

• Register on TVP fund portal website
• Prepare the required document including the BR, invoices and operation proof
• Prepare technology consultant documents

TVP vetting

• Relevance between the project and the applicant
• Reasonableness of the budget and the implementation 
• Any adverse record of the vendors

Implementation

• [News] Commencement as early as after application submission
• Sign the agreement with ITC after approval
• Implement the project within 12 months

Disbursement

• Final report and effectiveness
• TVP audit report
• Disbursement of no more than 3/4 of the cost

The scope of the TVP fund

The use of TVP funding should be:

• Purchase, rent or order any necessary customized module, solution, software or hardware
• If the items are readily available, they should not cost more than 50% of the project
• If the project cost is more than HK$50,000, the audit fee can be funded not more than HK$2,000.
• TVP funding is not applicable for daily expenditure

IT system supported by TVP

eCommerce system

This includes the Content Management System (CMS) of online shop, customer and admin mobile app, online payment, online marketing system, inventory management and data collection system.

Point-of-Sales POS

Branch-to-branch management, membership system, O2O integration and warehouse management.

Customer Relation Management CRM

Account management system, retention monitoring, sales reminding and information management.

Online booking system

Venue management, equipment rental, business centre management, clinic system for CMS, reporting and data management.

Big data and cloud solution

Migrate an existing system to cloud infrastructure e.g. Amazon Web Services (AWS). Big data collection and other Infrastructure-as-a-service (IaaS)

Information sharing platform

By sharing information, a platform enhance communication and improve efficiency. This helps to lower transaction cost and increase trades.

Audit report

After the TVP application approved, the applicant should make sure all relevant document on behalf of the enterprise. If the project cost is over HK$50,000, an audit report is required for disbursement. Don’t forget the final report to demonstrate the effectiveness of the project.

How to apply TVP?

If your enterprise plans to apply for the fund of Technology Voucher Programme (TVP), it is always welcome to contact Autus. We are experienced in government fund application and help you to assess the successful chance. If you want to obtain the fund smoothly and fast, don’t hesitate to reach us.

Call Autus: +852 2129 0104

WhatsApp Autus: +852 6219 1703

Useful links

TVP application guideline. From the basic information, the eligibility, funding, procedure, vetting, implementation and disbursement.(https://www.itf.gov.hk/l-sc/Forms/TVP-guide-c_2018_09.pdf)

Probity and non-collusion quotation/vendor certificate – template
(https://www.itf.gov.hk/l-sc/Forms/tvp-Probity-c_2018_02.pdf