Applications for the 18th round of Professional Services Development Assistance Scheme funding are now open for all non-profit distributing organisations. The $100 million fund boosts the competitiveness of local professional services on the Mainland and overseas.

The scheme's vetting committee has granted $71.2 million since February 2002. In the previous 16 rounds the vetting committee approved 182 applications. Projects included conferences, training programmes, exchange visits and promotional activities.

Of the approved projects, $32.45 million in funds related to enhancing competitiveness in the Mainland market.

Grants are given on a dollar-for-dollar matching basis. The maximum grant for a project is $2 million. The vetting committee comprising professionals, business people, academics and a government official will assess applications and monitor approved projects.

The Commerce & Economic Development Bureau will organise a briefing session on November 30 to facilitate interested parties. A helpdesk service will also be available. Application deadline is December 31.