The fourth round of applications for Professional Services Development Assistance Scheme funding will be invited from August 11.

The scheme, with an allocation of $100 million, finances projects that aim to increase and enhance the standard of local professional services.

Professional, trade, or non-profit distributing industrial organisations as well as research institutes are eligible to apply for scheme funds.

Grants are given on a dollar-for-dollar matching basis. The maximum grant for a project is $2 million.

A vetting committee, comprising professionals, businesspeople, academics and a Government official, will assess applications and monitor approved projects.

In the past three rounds, 55 applications were recommended by the vetting committee and the funding involved was $22.56 million. Another 11 cases are being further considered.

Invitation of applications will increase to three times a year from 2004. Urgent projects which cannot be catered for by the normal application cycle will be considered separately by the vetting committee.

To facilitate interested organisations in preparing their applications, the Commerce, Industry & Technology Bureau will organise two briefing sessions on August 25 and September 3.

All applications should reach the bureau on or before October 11.

For further details click here or call 2918 7593.