The Small & Medium Enterprises Development Fund will accept applications year-round from January 1, the Trade & Industry Department says.

Non-profit-distributing support organisations, trade and industrial organisations, professional bodies and research institutes are welcome to come up with funding proposals to help enhance the SME competitiveness.

Maximum funding for an approved project is $2 million, or 90% of total expenditure, whichever is less. The applicant will have to contribute the remaining amount, which may be in cash, in kind, or in the form of third-party sponsorship.

Applicants can submit up to two applications each quarter under the new arrangement - eight applications a year - which will be considered by a vetting committee that will assess applications on a quarterly basis.

The vetting committee, chaired by the Director-General of Trade & Industry, comprises industrialists, businessmen, entrepreneurs, professionals, academics, and members of the SME Committee.

Application forms and guidelines are available here. For enquiries, call 2398 5128 or email sdf_enquiry@tid.gov.hk.