An Easy Guide To Hong Kong’s Government Funding Schemes For Enterprises
By Will Elton, Updated: 2022-02-04 (published on 2020-01-09)
This monster of a list is an easy guide to all the funding schemes provided by the Hong Kong government for enterprises with links to the application.
Spend some time scrolling through; free money for your fledging –or even established– business is nothing to sniff at. All you need to do is find the one that’s right for your business and get your paperwork in.
Financing and Guarantee
1. SME Loan Guarantee Scheme
This one helps SMEs secure loans from participating lending institutions for acquiring business installations and equipment or for meeting the working capital needs for general business.
Trade and Industry Department: 2398 5129, firstname.lastname@example.org, www.smefund.tid.gov.hk/sgs/eng
2. Microfinance Scheme
For assisting people who wish to start their own businesses, become self- employed, or achieve self- enhancement through training, upgrading of skills or obtaining professional certification.
Hong Kong Mortgage Corporation: 2536 0707, email@example.com,
3. SME Financing Guarantee Scheme
To help SMEs and non-listed enterprises obtain financing from participating lenders for meeting their business needs.
HKMC Insurance Limited: 2536 0392, firstname.lastname@example.org, www.hkmc.com.hk/eng/#Corporate
Market Development/Business Upgrading
4. SME Export Marketing Fund
This fund encourages SMEs to expand markets outside of Hong Kong by participating in export promotion activities.
Trade and Industry Department: 2398 5127, email@example.com, www.smefund.tid.gov.hk/emf/eng
5. Dedicated Fund on Branding, Upgrading and Domestic Sales (BUD Fund)
We know branding is important. So this fund assists Hong Kong enterprises in undertaking projects to develop brands, upgrade and restructure their business operations and promote sales in the Mainland / ASEAN markets.
Hong Kong Productivity Council, 2788 6088, firstname.lastname@example.org, www.bud.hkpc.org/en
6. Retail Technology Adoption Assistance Scheme for Manpower Demand Management (ReTAAS)
This one support retail enterprises to adopt technologies for manpower demand management purposes and help enhance productivity.
Hong Kong Productivity Council, 2788 6262, email@example.com, www.retaas.hkpc.org/en/index.aspx
Supporting Research & Development (R&D)
7. Innovation and Technology Support Programme (ITSP)
Designated local public research institutes and R&D Centres can get support for their research and development (R&D) projects with this programme.
Innovation and Technology Commission: 3655 5678, firstname.lastname@example.org, www.itf.gov.hk/l- eng/ITSP.asp
8. Partnership Research Programme (PRP)
Supports research and development (R&D) projects undertaken by designated local public research institutes and R&D Centres.
Innovation and Technology Commission: 3655 5678, email@example.com, www.itf.gov.hk/leng/PRP.asp
9. Enterprise Support Scheme (ESS)
Encourage the private sector to invest in research and development (R&D) Locally incorporated companies
Innovation and Technology Commission: 3422 3700, firstname.lastname@example.org, www.itf.gov.hk/leng/ESS.asp
10. Research and Development Cash Rebate Scheme (CRS)
Interestingly, this scheme is designed to reinforce the research culture among private companies and encourage them to establish stronger partnerships with designated local public research institutions.
Innovation and Technology Commission: 3655 5678, email@example.com, www.itf.gov.hk/l-eng/crs.asp
Facilitating Technology Adoption
11. Technology Voucher Programme (TVP)
This programme supports projects in the form of technological services and solutions to improve productivity, or upgrade, or transform the business processes of enterprises.
Innovation and Technology Commission, 3523 1170, firstname.lastname@example.org, https://tvp.itf.gov.hk
Nurturing Technology Talent
12. Reindustrialisation and Technology Training Programme (RTTP)
A programme that subsidises local companies to train staff in advanced technologies, especially those related to “Industry 4.0”
Vocational Training Council: 3907 6660 / 3907 6681, email@example.com, https://rttp.vtc.edu.hk/
Supporting Technology Start-ups
13. Technology Start-up Support Scheme for Universities (TSSSU)
This particular scheme provides funding to designated local universities to support their teams in starting technology businesses and commercialising their research and development (R&D) results.
Innovation and Technology Commission: 3655 5678, firstname.lastname@example.org, www.itf.gov.hk/leng/TSSSU.asp
14. The Patent Application Grant
This one is pretty self explanatory. If you’ve got an invention in your bottom drawer, this grant will assist both local companies and individuals to apply for patents of their own inventions to capitalise their intellectual work.
Productivity Council, 2788 5958, email@example.com, www.itc.gov.hk/en/funding/pag.htm
15. Design Incubation Programme
For nurturing design start-ups at the early stage of their business development, with hardware and software support.
Hong Kong Design Centre, 3793 8418, firstname.lastname@example.org, www.hkdesignincubation.org
16. Fashion Incubation Programme
Fostering the local fashion creative economy and strengthening the positioning of Hong Kong design and fashion development in both pan Asian and global contexts.
Hong Kong Design Centre: 3793 8407, email@example.com, https://hkfip.org
17. Pilot Information Technology Development Matching Fund Scheme for Travel Agents
For the itchy-footed among us, this promotes the adoption of information technology among SME-sized travel agents for upgrading their productivity and service quality, as well as strengthening their competitiveness in the local or overseas market.
The Travel Industry Council of Hong Kong: 2969 8127, firstname.lastname@example.org,
18. Development Fund for the Travel Industry
No monopolies here, this fund is designed to enhance the overall competitiveness of the local travel industry through subsidising the training and promotional activities beneficial to travel agents.
The Travel Industry Council of Hong Kong: 2969 8157, email@example.com, www.tichk.org/public/website/en/industry_subsidy_scheme/development_fund/training_activities/html
Science Park Programmes
19. Science and Technology Entrepreneur Programme (STEP)
Well, this particular programme just sounds rosy. It’s built to nurture tech-focused entrepreneurs to become successful startups and help them turn their brilliant ideas into reality.
Hong Kong Science and Technology Park Corporation: 2629 6872, firstname.lastname@example.org,
20. Incu-Tech Incubation Programme
A pretty wide gamut here, it provides a range of business and professional services to assist technology startups during their inception stages.
Hong Kong Science and Technology Park Corporation: 2629 6873, email@example.com
21. Incu-Bio Incubation Programme
And more specific, this programme supports the growth and development of biomedical tech start-ups in Hong Kong.
Hong Kong Science and Technology Park Corporation: 2629 6869 / 2629 7091, firstname.lastname@example.org
22. Incu-App Incubation Programme
And wide again in scope, this provides startup support to companies working on business innovation during their inception stages.
Hong Kong Science and Technology Park Corporation: 2629 6873, email@example.com
23. Leading Enterprises Acceleration Programme (LEAP)
Caters to startups’ distinctive needs for growth and accelerates their innovation onto the global stage.
Hong Kong Science and Technology Park Corporation: 2629 6685, firstname.lastname@example.org
24. Corporate Venture Fund (CVF)
Gives early-stage Hong Kong technology startups a chance to fully develop their ideas and create revolutionary new tech products and services.
Hong Kong Science and Technology Park Corporation: email@example.com
25. Cyberport Creative Micro Fund
A fund designed to encourage innovation and creativity by sponsoring high potential digital tech start-up projects and business ideas.
Cyberport:3166 3900, firstname.lastname@example.org,
26. Cyberport Incubation Programme
For the supporting of entrepreneurs and start-ups with resources that aim to accelerate their growth.
Cyberport: 3166 3900, email@example.com
27. Cyberport Accelerator Support Programme
This one prepares its Cyberport incubatees and alumni for international markets and investors.
Cyberport: 3166 3735, firstname.lastname@example.org
28. Market Development Support Scheme
This scheme provides a financial subsidy for graduates of Cyberport Incubation Programme (CIP) and Cyberport
Creative Micro Fund (CCMF) to develop Mainland and Overseas market.
Cyberport:3166 3846, email@example.com
29. Cyberport Macro Fund
The Macro Fund invests in information and communications technology start-ups in Cyberport by providing them with
seed to Series A funding, thereby fostering the development of venture capital and angel investments in Hong Kong.
Cyberport: 3166 3800, firstname.lastname@example.org
30. Cleaner Production Partnership Programme
This one seems pretty necessary. For encouraging and facilitating Hong Kong-owned factories in HongKong/Guangdong to adopt Cleaner Production technologies and practices.
Hong Kong Productivity Council: 2788 5588, email@example.com,
31. Recycling Fund (Enterprise Support Programme)
Another that really needs to be fully utilised, the recycling fund provides funding support for individual Hong Kong enterprises to upgrade and expand their waste recycling operations in Hong Kong.
Hong Kong Productivity Council: 2788 5658, firstname.lastname@example.org,
32. Pilot Green Transport Fund
Subsidise the testing of green innovative technologies applicable to the public transport sector and goods vehicles but only applies to existing transport operators that have been operating for more than 1 year.
Environment Protection Department: 2824 0022, email@example.com,
Agriculture, Fisheries and Conservation
33. Sustainable Agriculture Development Fund
A fund that supports practical, application-oriented projects, schemes or research work that enhance farmers’ productivity and output, as well as contributes to fostering the sustainable development and enhancing the overall competitiveness of the agricultural industry.
Agriculture, Fisheries and Conservation Department: 2150 6829, firstname.lastname@example.org, www.afcd.gov.hk/english/agriculture/sadf/sadf.html
34. Farm Improvement Scheme
Farmers need all the help they can get, particularly in this neck of the woods. This scheme provides direct grants to local farmers for acquisition of farming equipment and materials to improve their farming efficiency and productivity.
Agriculture, Fisheries and Conservation Department: 2150 6829, email@example.com,
35. Vegetable Marketing Organization Loan Fund
This one simply grants loans to local crop farmers for agricultural production and development.
Agriculture, Fisheries and Conservation Department: 2476 2424, firstname.lastname@example.org
36. Kadoorie Agriculture Aid Loan Fund
Granting loans to individual farmers, pond fish operators and mariculturists for development and working capital.
Agriculture, Fisheries and Conservation Department: 2476 2424 (Agriculture) / 2150 7097(Fisheries), email@example.com
37. J.E. Joseph Trust Fund to grant loans
Grants loans to farmers’ co-operative societies and individual farmers for use either as development or working capital.
Agriculture, Fisheries and Conservation Department: 2476 2424, firstname.lastname@example.org, www.afcd.gov.hk/english/agriculture/agr_loan/agr_loan_jtf/agr_loan_jtf.html
38. Sustainable Fisheries Development Fund
Helping the local fishing community move towards sustainable or high value-added operations, assisting the trade to enhance its overall competitiveness and cope with new challenges. This is a good one.
Agriculture, Fisheries and Conservation Department: 2150 7158, email@example.com, www.afcd.gov.hk/english/fisheries/sfdf/SFDF.html
39. Construction Innovation and Technology Fund
Put the paper mâché away and go for broke with funding support for both enterprises and practitioners of the construction industry to wider adoption of innovative constructive methods and new technologies in the construction industry with a view to promoting productivity, uplifting built quality, improving site safety and enhancing environmental performance.
Construction Industry Council: 2100 9000, firstname.lastname@example.org, www.citf.cic.hk/en/
40. Chinese Medicine Development Fund (Enterprise Support Programme)
Offers matching fund to practitioners and institutions to facilitate the development of Chinese Medicine Industry in Hong Kong.
Hong Kong Productivity Council: 2788 5632, email@example.com, www.cmdevfund.hk/content-en.php?mid=3
Did you find one for you? If so, hooray! If not, tell the government to come up with one, we’ll add it to our list!
This article does not constitute legal advice.
The opinions expressed in the column above represent the author’s own.
Start managing your legal needs with Zegal today
READ MORE: Early-stage Funding With Ordinary Shares
RELATED READING: The 5 Hong Kong Government Grants For Small Businesses You Need to Know
FURTHER READING:Top 7 Risks For Taking Your Business International