During COVID-19 pandemic and the current economic downturn, complete Digital Transformation is the only way to survive the new working norm and achieve sustainable business growth!
Below please find some key information about the TVP (Technology Voucher Program) government funding scheme:
TVP Objectives: TVP aims to support local enterprises/organisations in using technological services and solutions to improve productivity, or upgrade or transform their business processes.
TVP Overview: could obtain up to HK$600,000 for max. 6 projects of total amount HK$800,000 per enterprise/organisation, details please visit https://www.itf.gov.hk/l-eng/TVP.asp, covering Payroll & HR System, ERP, O2O e-Commerce, CRM, etc., and even some hardware specifically related to the main functions of the project (e.g. a new computer application server and attendance readers for HRMS but not those desktop/laptop computer and smartphone for general purpose)!
TVP Application Processing: you need to submit application with a statement in max. 500 words… it takes 3-12 months negotiating with the TVP Secretariat by phone and email (usually 3, 4-6 months or 6-12 months for project under HK$100K, 300K and over 300K respectively, for details please visit https://www.youtube.com/watch?time_continue=2&v=ozwViWAb4m0&feature=emb_logo, you could skip the first 41 min. as an overview of other funding schemes.
TVP Implementation Timeline: TVP applicant could start their applied project right after their TVP application was submitted, no need to wait for approval or signing of funding agreement.
TVP Reality: success rate is 100% according to our clients’ approval and the subsidy is exactly 75% of the project quotation, though the final figures are at the TVP Secretariat’s entire discretion.