fbpx Guide for Applying Hong Kong Technology Voucher Programme

Guide for applying the Hong Kong Technology Voucher Programme (Update 2021)

causes

Guide for applying the Hong Kong Technology Voucher Programme (Update 2021)

** Update 15/1/2021

More and more businesses are applying Tech Voucher Program (TVP), the current cases is estimated at 400 ~ 500 cases per month. So act now and start sooner.

Also the restriction about related entities (e.g. different companies, same stockholders) to apply Technology Voucher Program (TVP) is relaxed.

Reference service providers selected in approved cases also published, and we are one of the provider in the list.

** Update 1/6/2020

From now on, applicant can start the project right after they submit their application online, and the restriction to wait and start after approval is removed. For more information, please contact us for details.

Since 1/4/2020, the Hong Kong government has enhanced the Technology Voucher Programme to help micro and small businesses adopting technology for productivity improvement. Micro and small businesses only need to pay for 25% of the project cost and enjoy the remaining 75% subsidized by the programme.

The application is getting easier since the programme began. You could follow this guide to getting started. Spending 1 or 2 hours to get up to $600,000, is not bad of an return on investment. So stay with us with the guide below.

A checklist of required information before you start is provided at the end of the article.

Equiry for buying Account Software with 1/4 price using Tech Voucher:9135 0466    

Step 1:5 mins

Go to https://tvp.itf.gov.hk, click Register to create an account. Use the form at the left for businesses.

 technology voucher application guide step 1

Step 2:5 mins

Choose and enter a Login Name and password. Do remember to record the login name and password for future login. 

 technology voucher application guide step 2

Step 3:10 mins

Enter your company information and upload the BR certificate. Enter the Project Coordinator details. The Project Coordinator should be a person that has authority to access company accounts as financial information is needed to complete the application. 

Step 4:1 min

Finish the registration. Click Home page and Login using the recorded login name and password.  

Step 5:10 mins

Click Application, select New Application 

 technology voucher application guide step 5

Enter the company owner and stockholder's detail, including name, ID number. All stockholder with 30% or more ownership should be entered. 

technology voucher application guide step 5b

Step 6:10 mins

Enter the company business details, including number of employees (receiving salary part-time or full-time, and including owners with active involvement). As the programme required business with substantial business operation in Hong Kong, these information will help ensure application is successful.

Keep the Project Coordinator information as is. 

Step 7:10 mins with the help of service provider

Project Information is usually provided by your service provider. 

 technology voucher application guide step 7

Enter the details of the service provider in section (F) you chosed for the project. The details must match the quotation you are going to submit.

Step 8:20 mins with the help of service provider

(G) Project Expenditure / Deliverables

Usually this information should be provided by your service provider. Notice that Customized Items and Off-the-Shelf Items will be submitted separately. Technology Voucher Programme aims to help business buy customized, instead of ready off-the-shelf items. So, it is recommended the cost of off-the-shelf items should be around 30% of the total project cost.  

For projects below HK$50,000, an auditor is needed to audit all expenditure reports. The audit fee could be included into the application with a maximum of $3,000. Enter the audit fee if you want to apply for it. 

Enter the amount the applicant will need to pay, say if the project cost is $100,000, applicant will need to pay for 25% which is $25,000.

Step 9:1 min

Submission of Quotations: this part is for submitting reason if the minimum number of quotations could not be submitted or provide reason if you have not chosen the lowest price quotation. The programme will consider if the reason is acceptable, but it may take longer to process.

technology voucher application guide step 8

 Step 10:5 mins

Enter the Declaration, either as a Shareholder or Authorized person 

 Step 11 :30 mins

Upload necessary documents including:  

1. Annual Return if you are a limited company. Form 1(a) for unlimited sole proprietor.

2. Evidence of substantive business operations, like 5 copies of latest sales invoices, 5 copies of purchase invoices, Tax Payment notice from IRD, latest audit report, MPF and salary records etc. 

3. The selected quotation: the quotation must include the Probity and Non-Collusive Model Clause, which the template could be downloaded.

4. The non-selected quotation: also, must include the signed Probity and Non-Collusive Model Clause.

5. The applicant ID copy 

You can download the model clause for the Probity and Non-Collusive template here:

https://www.itf.gov.hk/l-eng/Forms/tvp-Probity-e_2019_02.pdf

Equiry for buying Account Software with 1/4 price using Tech Voucher:9135 0466    

To speed things up for you, we have also prepared a checklist so you can make sure you have all the information needed before starting. If you do not have a scanner for creating soft copies, you can download the Microsoft Lens App on Android or iPhone to use mobile phone to make quality scan (make sure you select Document as scan type).

Android: https://play.google.com/store/apps/details?id=com.microsoft.office.officelens&hl=en

iOS: https://apps.apple.com/us/app/microsoft-office-lens-pdf-scan/id975925059

1. Latest BR certificate soft copy

2. Latest Annual Return soft copy for limited, Form 1(a) for unlimited

3. First, Last Name, ID Number of business owners (with 30% or more ownership)

4. Business established/operational since date

5. Number of salaried employee and owner

6. Project Coordinator Details: Name, title, phone, email

7. Get Service Provider's detail and Project Information from service provider

8. Evidence of substantive business operations, like soft copies of 5 latest sales invoices in recent 3 months, 5 copies of purchase invoices, Tax Payment notice from IRD, latest audit report, MPF and salary records etc.  (the more you prepare, the lesser chance of bounce back and longer application time)

9. The selected quotation: the quotation must include the Probity and Non-Collusive Model Clause, which the template could be downloaded.

10. One (for $50k below project) or more of non-selected quotation: also, must include the signed Probity and Non-Collusive Model Clause

11. The applicant (The person designated in the Declaration Section) ID copy and share hold IC copy

* Information provided is for reference only, please consult the ITF for details.

 

Frequently Asked Questions for TVP

What is Technology Voucher Programme?
Technology Voucher Programme (TVP) is a funding programme supported by the Government of Hong Kong. Companies with actual operating (not shell company) can use the funding for technology related improvement projects with 75% of amount subsidized.

Who is eligible to apply?
Any private company not listed in stock exchange with substantive business operation, usually means company with sales, purchase, rent paying, salary or MPF paying and tax record.

Example success cases
Typical success cases are
    - ERP system: improve company efficiency by automating Sales, Purchase, Inventory, Finance, Human Resources and Manufacturing resources
    - Accounting system: improve company efficiency by automating accounting process
    - E-commerce system: automating online store sales and payment processing with accounting and inventory system 


2020 Technology Voucher Programme optimization
From 1st of April 2020, the Government's funding ratio for each TVP project will be raised from two-thirds to three-quarters. The funding ceiling per applicant will be increased from $400,000 to $600,000 and the maximum number of approved projects will also be increased from four to six.

Funding Agent
You can apply TVP with or without using agent. The online application form is very simple and you can find the guide here to help you. You can find agent to help you apply if you want to find knowledgeable person to handle the application and increase the chance of success.

How much funding will I get?
The maximum amount of funding provided by TVP is HK$ 600,000. You can claim the whole amount in a single project, or spread them into small projects with up to six projects. To receive the maximum amount your company will need to pay HK$200,000 which is 25% of the project amount.

How many quotations do I need for applying Technology Voucher Programme
For item amount below $50,000 you will need to get at least 2 quotations. For item amount below $300,000 and above $50,000 you need 3. For $300,000 above you need 5.

Technology Consultant
You can also include consultation fee into the Technology Voucher Programme project and get subsidized. The consultancy should be an integral part of the project and contribute to the successful implementation.

Can I buy computer hardware using Technology Voucher Programme?
As long as the hardware is an integral and necessary part of the project implementation, and all the off-the-shelf items amount do not exceed 50% (we suggest off-the-shelf items amount at below 40%), you can include them into the Technology Voucher Programme application.

How do I start?
You can apply by creating a Technology Voucher Programme TVP application account here.

How long does it take?
From 1 to 6 months, depending on how complete the initial application is and the evaluation of the approving committee.

Can I create an online store using Technology Voucher Programme?
Yes, if the online store business is related to your current business.

Do I need to audit after the Technology Voucher Programme TVP project finished?
If the project amount exceeds $50,000, you need to appoint a Certified Public Accountant to audit the project financials like payment to providers, hardware asset received etc. 

Back to Blog listing

Not sure which solution to pick?

Go thru a few questions and find out

Go to questionnaire