In 2020, the new crown epidemic is coming to Hungary, and it is believed that many companies are facing operating difficulties. Although everyone is gritting their teeth to get through the difficult times, the crisis is a turning point. Since people may not be able to meet and work as scheduled due to various external factors, why not learn from the pain and seek the possibility of increasing productivity outside of people and alleviating the rising operating costs The problem, so that the company can take precautions and rise to the challenge? The following Proxa will introduce you to the tips for applying for technology voucher to help you achieve business upgrade as soon as possible!

What is technology voucher TVP ?

Technology Voucher Programme (TVP) was established by the Innovation and Technology Commission (ITC) Innovation and Technology Fund. Initially, ITC launched the Technology Voucher Pilot Program in 2016 to subsidize non-listed companies in Hong Kong to purchase and use technology services and solutions to increase productivity or upgrade and transform their business processes. In the three years since the technology voucher pilot program was implemented, there have been many examples of small and medium enterprises successfully using technology services to upgrade their business processes through technology voucher. In view of this, the technology voucher scheme will be regularized in 2019, and applications will be accepted throughout the year. Starting from 2020, the ITC TVP technology voucher subsidy amount will be increased from HKD$400,000 to HKD$600,000, which can be described as one for SMEs. Great Gospe! 

What is the funding form of technology voucher TVP ?

After the technology voucher was optimized by ITC at the beginning of this year, the number of projects approved by ITC for each applicant has increased to six, and the funding limit is HKD$600,000. The funding ratio of technology voucher for each ITC approved project has increased Up to 75% (note that the optimized funding amount is only applicable to technology voucher applications submitted on or after April 1, 2020). Generally speaking, the projects applied for funding in the technology voucher plan must be completed within 12 months, and the final report must be submitted within 2 months after the completion of the project before ITC will issue the full funding amount.

Enterprises in need can apply to ITC for pre-distribution of 25% of the approved grant amount, but applicants need to deposit their share of capital in a designated bank account in advance. Assuming that the total amount of ITC technology voucher approved projects is HKD$800,000, of which HKD$600,000 is funded by ITC. Applicants need to allocate 25% of the HKD$200,000 contribution share borne by themselves, that is, HKD$50,000 into the designated bank account. ITC will only release 25% of its funding amount, namely HKD$150,000, to the same designated bank account.

What funding projects are covered by the technology voucher TVP ?

• Technology consulting services: external consulting services provided by local universities, scientific research institutions or companies registered in Hong Kong in accordance with the "Business Registration Ordinance" on the technology services/plans to be adopted for technology voucher applications.
• Customized hardware and software and technology services/plans necessary for purchasing and renting technology voucher applications
• Purchase and rent the necessary ready-made hardware and software and technology services/solutions for the technology voucher application project, such as computers, printers, scanners, servers, mobile phones, office software, anti-virus software, etc., but the cost of this part should not exceed the overall project cost Of 50%.
• Project audit (applicable to projects with approved funding of technology voucher exceeding HKD$50,000), and the fee is capped at HKD$3,000.

The latest list of technology services and solutions covered by the government technology voucher can be found in the attachment of the technology voucher application guide.
After understanding the funding forms and projects of the government technology voucher program, the next step is to tailor the technology voucher plan for your company and choose the appropriate technology services and program plans. No clue? Go to Proxa Technology Voucher TVP 2020 to learn more Part 2 to learn more about successful cases!