The Innovation & Technology Commission launched the $500 million Technology Voucher Programme under the Innovation & Technology Fund today.
The pilot programme provides incentives to promote the effective use of technological services and solutions by small-and-medium enterprises and fosters business opportunities for local technological service providers.
Secretary for Innovation & Technology Nicholas Yang said the programme will encourage investment in innovation and technology, and improve productivity and long-term competitiveness.
SMEs registered under the Business Registration Ordinance with at least one year of substantive business operation in Hong Kong are eligible to apply.
The Government will provide cumulative funding of up to $200,000 on a 2:1 matching basis for each eligible company.
The company must contribute at least a third of the project cost.
Upon project completion, the Government will disburse the approved funding to the applicant.
Applications will be vetted by a committee chaired by Prof Eric Yim with members from the business and technology sectors, professionals and government officials.
The Financial Secretary announced the allocation of $500 million to launch the programme in the 2016-17 Budget.
It will be implemented on a pilot basis for three years.
The programme is now open for application.
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