These business benefits are not just limited to large MNCs and other big businesses. Small businesses also stand to benefit, what with a slew of resources and grants that the government provides for small businesses. Here, we identify the top 5 government grants for small businesses, so make sure you don\u2019t miss out!<\/p>\n\n\n\n
<\/span>1. Level up your productivity & tech-savviness with the Innovation and Technology Fund (ITF)<\/span><\/strong><\/span><\/h2>\n\n\n\nIn his 2017 Policy Address earlier this year, Chief Executive CY Leung announced that the government had invested $18 billion on measures to attract innovation and technology enterprises from Hong Kong and elsewhere. The Innovation and Technology Fund (ITF) ( one of the government business grants) that which is administered by the Innovation and Technology Commission introduces a range of support schemes to strengthen productivity and competitiveness among Hong Kong companies.<\/span><\/p>\n\n\n\nTF is a fund set up by the Government to support mainly applied R&D projects conducted by universities, industry support organisations, industry & trade associations or private sector companies which contribute to innovation and technology upgrading in industry in Hong Kong.<\/span>
<\/span><\/p>\n\n\n\nThe following are the programmes and schemes under the ITF –<\/span><\/p>\n\n\n\n- Innovation and Technology Support Programme (ITSP)<\/span><\/a><\/li>
- Guangdong-Hong Kong Technology Cooperation Funding Scheme (TCFS)<\/span><\/a><\/li>
- Partnership Research Programme (PRP)<\/span><\/a><\/li>
- Enterprise Support Scheme (ESS)<\/span><\/a><\/li>
- Research and Development Cash Rebate Scheme (CRS)<\/span><\/a><\/li>
- Midstream Research Programme for Universities (MRP)<\/span><\/a><\/li>
- Public Sector Trial Scheme (PSTS)<\/span><\/a><\/li>
- Technology Voucher Programme (TVP)<\/span><\/a><\/li>
- Researcher Programme<\/span><\/a><\/li>
- Postdoctoral Hub<\/span><\/a><\/li>
- Reindustrialisation and Technology Training Programme (RTTP)<\/span><\/a><\/li>
- Technology Start-up Support Scheme for Universities (TSSSU)<\/span><\/a><\/li>
- The Innovation and Technology Venture Fund (ITVF)<\/span><\/a><\/li>
- General Support Programme (GSP)<\/span><\/a><\/li>
- Patent Application Grant (PAG)<\/span><\/a><\/li><\/ul>\n\n\n\n
Note:<\/span><\/p>\n\n\n\n- No application fee will be charged.<\/span><\/li>
- single applicant can submit more than one application to the same programme\/scheme under the ITF at any one time.<\/span><\/li>
- funding scheme under the ITF has its specific funding criteria. <\/span><\/li><\/ul>\n\n\n\n
Related reading:<\/span> The 6 Singapore Government Grants For Small Businesses You Need to Know<\/span><\/a><\/p>\n\n\n\n<\/span>2. Connect with mentors and acquire resources for social enterprises with the SIE Fund<\/strong><\/span><\/h2>\n\n\n\nThe Social Innovation and Entrepreneurship Development Fund (SIE Fund) provides resources to organisations that address poverty and social exclusion through innovative solutions. The government business grants -SIE Fund is allocated through a number of different intermediaries which administer programmes in the priority areas of Capacity Building and Innovative Programmes.<\/span><\/p>\n\n\n\nThe SIE Fund has engaged The Hong Kong Council of Social Service, PolyU Technology and Consultancy Company Limited, SOW (Asia) Foundation Limited*, and The Yeh Family Philanthropy Limited as intermediaries to design and administer various programmes for the Fund’s priority areas of Capacity Building and Innovative Programmes.<\/span><\/p>\n\n\n\n![\"\"](\"https:\/\/zegal.com\/wp-content\/uploads\/2017\/07\/Intermediaries\u2019-Programmes-of-SIE-Fund-300x225.png\")
<\/figure>\n\n\n\n<\/p>\n\n\n\n
- \n
<\/span>Impact Incubator<\/span><\/strong><\/span><\/h3>\n<\/li><\/ul>\n\n\n\nTheme:<\/strong> Linking up social capital and helping social enterprises, organisations and social entrepreneurs develop business skills, identify opportunities and apply business approaches to address social needs.<\/span><\/p>\n\n\n\nEligibility:<\/strong> NGOs, social enterprises, companies and Hong Kong citizens aged 18 and above are all welcome.<\/span><\/p>\n\n\n\n- \n
<\/span>Good Seed<\/span><\/strong><\/span><\/h3>\n<\/li><\/ul>\n\n\n\nTheme:<\/strong> Helping you apply “Design & Technology” to generate idea; providing funding of HK$100,000 and mentoring to implement project.<\/span><\/p>\n\n\n\nEligibility:<\/strong> This Programme welcomes students and graduates of local higher education institutions to apply as individuals or in teams.<\/span><\/p>\n\n\n\n- \n
<\/span>Fast Forward<\/span><\/strong><\/span><\/h3>\n<\/li><\/ul>\n\n\n\nTheme:<\/strong> A structured 3-month programme to support early stage social enterprises seeking to grow and scale their impact on poverty alleviation in Hong Kong.<\/span><\/p>\n\n\n\nEligibility:<\/strong> The programme is looking for social enterprises that:<\/span><\/p>\n\n\n\n- Support poverty alleviation through one or more of the following means:<\/span>
<\/span>a.<\/span> Providing jobs for the disadvantaged, disabled and\/or elderly<\/span>
<\/span>b.<\/span> Enabling employment by removing barriers e.g. through vocational training or employment matching models<\/span>
<\/span>c. <\/span> Providing products and services that reduce the cost of living for low-income households (e.g. low cost food, utilities, housing etc.)<\/span><\/li>- Have at least two full-time co-founders<\/span><\/li>
- Have already launched their products\/services\/models or at least have prototypes of those products\/services\/models that would be ready within 6 months.<\/span><\/li><\/ol>\n\n\n\n
The Programme: The programme consists of diagnostic\/facilitation workshops, mentoring, networks and pitch nights to provide participating social enterprises with access to potential investors.<\/span><\/p>\n\n\n\n*SOW (Asia) Foundation Limited completed its service as an intermediary of SIE Fund in August 2016.<\/span><\/p>\n\n\n\n- \n
<\/span>Nurturing Social Minds<\/strong><\/span><\/span><\/h3>\n<\/li><\/ul>\n\n\n\nTheme:<\/strong> Visionary and resourceful social entrepreneurs can think out of the box and take calculated risks in creating new business models, market norms and customer experiences. Venture philanthropy takes philanthropic funding to a whole new level of accountability and results-orientation, giving investors alternative opportunities they seldom enjoy before.<\/span><\/p>\n\n\n\nCombining the merits of the two, this course is specially designed for students with a vision in innovative, sustainable and impactful social businesses.<\/span><\/p>\n\n\n\nEligibility:<\/strong> MBA students and undergraduates<\/span><\/p>\n\n\n\n<\/span>3. Protect your company\u2019s invention by securing your IP rights with the Patent Application Grant<\/strong><\/span><\/h2>\n\n\n\nIntellectual property (IP) is a core asset of every business and has the potential to become one of the most valuable assets of your business when managed properly. Under the Patent Application Grant, the Innovation and Technology Commission with Hong Kong Productivity Council (HKPC) assists local companies and individuals to apply for patents of their own inventions. It is a Government support for small business. <\/span><\/span>All applications for functional patents and inventions with technological elements and industrial application are eligible. Under this grant, a company can receive a grant of up to HK$250,000 or 90% of the sum of the total direct cost of the patent application and the administration fee charged by the HKPC, whichever is lower.<\/span><\/p>\n\n\n\n<\/span>What is its objective?<\/span><\/strong><\/span><\/h3>\n\n\n\nThe Grant aims to encourage local companies and inventors to capitalise their intellectual work through patent registration.<\/span><\/p>\n\n\n\n<\/span>Who are eligible to apply?<\/span><\/strong><\/span><\/h3>\n\n\n\n- All locally incorporated companies, Hong Kong permanent residents or Hong Kong residents permitted to remain in Hong Kong for not less than 7 years which\/who have never owned any patents in any countries or territories before will be eligible.<\/span><\/li>
- For individual applicant, the applicant must be the sole inventor or one of the joint inventors of the invention.<\/span><\/li>
- For applicant company, the inventor(s) of the invention shall be a directly related party\/parties to the applicant company, e.g. owner, shareholder, director, or staff. As the PAG is for first-time patent seekers only, funding support will not be provided if PAG has been granted to the applicant company’s related companies (i.e. (1) company(ies) having a major shareholder (viz. those with 50% or more ownership) in common with the applicant company or (2) company(ies) without major shareholder(s) but having shareholders identical to those of the applicant company) before.<\/span><\/li><\/ul>\n\n\n\n
<\/span>How will the applications be processed?<\/span><\/strong><\/span><\/h3>\n\n\n\nApplications will be processed through the implementation agent on a confidentialbasis. Applicants must provide the implementation agent with details of their idea or inventions. A patent search-cum-technical assessment will be required. Based on the result of the patent search-cum-technical assessment conducted by the implementation agent, the Innovation and Technology Commission will decide whether the applications should be approved. The Commission’s decision will be final.<\/span><\/p>\n\n\n\n<\/span>4. Fight economic downturns with the SME Loan Guarantee Scheme (SGS)<\/strong><\/span><\/h2>\n\n\n\nAfraid that your business has got everything going for it only to be badly hit by the next economic downturn? This is a valid concern, given that SME loan applications fell by 37% in the first half of 2016 amidst the economic slowdown. The government has helpfully put together<\/span> various resources and funding schemes<\/span><\/a> to support SMEs in exactly this type of scenario. It is a part of SME funding in Hk by government. <\/span><\/p>\n\n\n\nOne of these funding schemes, the SME Loan Guarantee Scheme (SGS) provides loan guarantee to SMEs to aid them in securing loans from participating lending institutions (PLIs), which includes commercial banks, for acquiring business equipment or meeting general working capital needs. Under the scheme, the government provides a guarantee to the PLIs so that they can lend money to SMEs which do not have sufficient assets to secure bank loans. Small and medium business can take advantage from <\/span>Government small business loan guarantee scheme.<\/span><\/span><\/p>\n\n\n\n <\/div>\n\n\n\n<\/span>Objective<\/span><\/strong><\/span><\/h3>\n\n\n\nThe SME Loan Guarantee Scheme (SGS) provides loan guarantee to small and medium enterprises (SMEs) to help them secure loans from the <\/span>participating lending institutions<\/span> (PLIs) for <\/span>acquiring business installations and equipment<\/span> or <\/span>meeting working capital needs of general business uses<\/span>.<\/span><\/p>\n\n\n\n<\/span>Eligibility<\/span><\/strong><\/span><\/h3>\n\n\n\nEnterprises<\/span>(1) <\/span>which meet the following criteria are eligible to apply for <\/span>Government small business loan guarantee scheme<\/span><\/span>:<\/span><\/p>\n\n\n\n
TF is a fund set up by the Government to support mainly applied R&D projects conducted by universities, industry support organisations, industry & trade associations or private sector companies which contribute to innovation and technology upgrading in industry in Hong Kong.<\/span> The following are the programmes and schemes under the ITF –<\/span><\/p>\n\n\n\n Note:<\/span><\/p>\n\n\n\n Related reading:<\/span> The 6 Singapore Government Grants For Small Businesses You Need to Know<\/span><\/a><\/p>\n\n\n\n The Social Innovation and Entrepreneurship Development Fund (SIE Fund) provides resources to organisations that address poverty and social exclusion through innovative solutions. The government business grants -SIE Fund is allocated through a number of different intermediaries which administer programmes in the priority areas of Capacity Building and Innovative Programmes.<\/span><\/p>\n\n\n\n The SIE Fund has engaged The Hong Kong Council of Social Service, PolyU Technology and Consultancy Company Limited, SOW (Asia) Foundation Limited*, and The Yeh Family Philanthropy Limited as intermediaries to design and administer various programmes for the Fund’s priority areas of Capacity Building and Innovative Programmes.<\/span><\/p>\n\n\n\n <\/p>\n\n\n\n Theme:<\/strong> Linking up social capital and helping social enterprises, organisations and social entrepreneurs develop business skills, identify opportunities and apply business approaches to address social needs.<\/span><\/p>\n\n\n\n Eligibility:<\/strong> NGOs, social enterprises, companies and Hong Kong citizens aged 18 and above are all welcome.<\/span><\/p>\n\n\n\n Theme:<\/strong> Helping you apply “Design & Technology” to generate idea; providing funding of HK$100,000 and mentoring to implement project.<\/span><\/p>\n\n\n\n Eligibility:<\/strong> This Programme welcomes students and graduates of local higher education institutions to apply as individuals or in teams.<\/span><\/p>\n\n\n\n Theme:<\/strong> A structured 3-month programme to support early stage social enterprises seeking to grow and scale their impact on poverty alleviation in Hong Kong.<\/span><\/p>\n\n\n\n Eligibility:<\/strong> The programme is looking for social enterprises that:<\/span><\/p>\n\n\n\n The Programme: The programme consists of diagnostic\/facilitation workshops, mentoring, networks and pitch nights to provide participating social enterprises with access to potential investors.<\/span><\/p>\n\n\n\n *SOW (Asia) Foundation Limited completed its service as an intermediary of SIE Fund in August 2016.<\/span><\/p>\n\n\n\n Theme:<\/strong> Visionary and resourceful social entrepreneurs can think out of the box and take calculated risks in creating new business models, market norms and customer experiences. Venture philanthropy takes philanthropic funding to a whole new level of accountability and results-orientation, giving investors alternative opportunities they seldom enjoy before.<\/span><\/p>\n\n\n\n Combining the merits of the two, this course is specially designed for students with a vision in innovative, sustainable and impactful social businesses.<\/span><\/p>\n\n\n\n Eligibility:<\/strong> MBA students and undergraduates<\/span><\/p>\n\n\n\n Intellectual property (IP) is a core asset of every business and has the potential to become one of the most valuable assets of your business when managed properly. Under the Patent Application Grant, the Innovation and Technology Commission with Hong Kong Productivity Council (HKPC) assists local companies and individuals to apply for patents of their own inventions. It is a Government support for small business. <\/span><\/span>All applications for functional patents and inventions with technological elements and industrial application are eligible. Under this grant, a company can receive a grant of up to HK$250,000 or 90% of the sum of the total direct cost of the patent application and the administration fee charged by the HKPC, whichever is lower.<\/span><\/p>\n\n\n\n The Grant aims to encourage local companies and inventors to capitalise their intellectual work through patent registration.<\/span><\/p>\n\n\n\n Applications will be processed through the implementation agent on a confidentialbasis. Applicants must provide the implementation agent with details of their idea or inventions. A patent search-cum-technical assessment will be required. Based on the result of the patent search-cum-technical assessment conducted by the implementation agent, the Innovation and Technology Commission will decide whether the applications should be approved. The Commission’s decision will be final.<\/span><\/p>\n\n\n\n Afraid that your business has got everything going for it only to be badly hit by the next economic downturn? This is a valid concern, given that SME loan applications fell by 37% in the first half of 2016 amidst the economic slowdown. The government has helpfully put together<\/span> various resources and funding schemes<\/span><\/a> to support SMEs in exactly this type of scenario. It is a part of SME funding in Hk by government. <\/span><\/p>\n\n\n\n One of these funding schemes, the SME Loan Guarantee Scheme (SGS) provides loan guarantee to SMEs to aid them in securing loans from participating lending institutions (PLIs), which includes commercial banks, for acquiring business equipment or meeting general working capital needs. Under the scheme, the government provides a guarantee to the PLIs so that they can lend money to SMEs which do not have sufficient assets to secure bank loans. Small and medium business can take advantage from <\/span>Government small business loan guarantee scheme.<\/span><\/span><\/p>\n\n\n\n The SME Loan Guarantee Scheme (SGS) provides loan guarantee to small and medium enterprises (SMEs) to help them secure loans from the <\/span>participating lending institutions<\/span> (PLIs) for <\/span>acquiring business installations and equipment<\/span> or <\/span>meeting working capital needs of general business uses<\/span>.<\/span><\/p>\n\n\n\n Enterprises<\/span>(1) <\/span>which meet the following criteria are eligible to apply for <\/span>Government small business loan guarantee scheme<\/span><\/span>:<\/span><\/p>\n\n\n\n
<\/span><\/p>\n\n\n\n<\/span>2. Connect with mentors and acquire resources for social enterprises with the SIE Fund<\/strong><\/span><\/h2>\n\n\n\n
<\/figure>\n\n\n\n<\/span>Impact Incubator<\/span><\/strong><\/span><\/h3>\n<\/li><\/ul>\n\n\n\n
<\/span>Good Seed<\/span><\/strong><\/span><\/h3>\n<\/li><\/ul>\n\n\n\n
<\/span>Fast Forward<\/span><\/strong><\/span><\/h3>\n<\/li><\/ul>\n\n\n\n
<\/span>a.<\/span> Providing jobs for the disadvantaged, disabled and\/or elderly<\/span>
<\/span>b.<\/span> Enabling employment by removing barriers e.g. through vocational training or employment matching models<\/span>
<\/span>c. <\/span> Providing products and services that reduce the cost of living for low-income households (e.g. low cost food, utilities, housing etc.)<\/span><\/li><\/span>Nurturing Social Minds<\/strong><\/span><\/span><\/h3>\n<\/li><\/ul>\n\n\n\n
<\/span>3. Protect your company\u2019s invention by securing your IP rights with the Patent Application Grant<\/strong><\/span><\/h2>\n\n\n\n
<\/span>What is its objective?<\/span><\/strong><\/span><\/h3>\n\n\n\n
<\/span>Who are eligible to apply?<\/span><\/strong><\/span><\/h3>\n\n\n\n
<\/span>How will the applications be processed?<\/span><\/strong><\/span><\/h3>\n\n\n\n
<\/span>4. Fight economic downturns with the SME Loan Guarantee Scheme (SGS)<\/strong><\/span><\/h2>\n\n\n\n
<\/span>Objective<\/span><\/strong><\/span><\/h3>\n\n\n\n
<\/span>Eligibility<\/span><\/strong><\/span><\/h3>\n\n\n\n