The Professional Services Advancement Support Scheme has opened a new round of funding for non-profit-distributing organisations, with applications open from today until May 31.

Eligible organisations include professional bodies, trade and industrial organisations and research institutes.

With a total allocation of $200 million, the scheme offers subsidies to non-profit-making industry-led projects that increase exchanges and co-operation between Hong Kong's professional services and external counterparts, promote relevant publicity activities, and enhance the sector’s overall standards and competitiveness.

The scheme is open to a professional services across a range of sectors, including accounting, legal and dispute resolution, architecture, engineering, healthcare, information and communications technology, and design, as well as technical testing and analysis. Applications are welcome from both sector-specific and cross-sectoral projects.

The maximum grant for each approved project is $3 million or 90% of the total eligible project cost, whichever is lower.

As of early February, nearly 120 projects had been funded, covering project deliverables in Hong Kong and elsewhere.

The Government has also set aside $50 million to launch the Professionals Participation Subsidy Programme under the scheme.

The programme aims to subsidise Hong Kong’s major professional bodies to participate in activities organised by the Government and the Trade Development Council with a view to promoting Hong Kong’s competitive edge and professional services to Mainland cities and overseas markets.

The scheme and the programme both accept applications all year round, with submissions being processed on a quarterly basis.

A briefing session will be held this month for organisations interested in applying for funding via the scheme. Contact the secretariat on 3655 5418 or by email for enquiries.