Digital transformation is a top priority for businesses in today's fast-paced world. The Hong Kong government recognizes the importance of digitalization and has introduced various digital grants to support SMEs in their digital transformation journey.
Types of Digital Grants
Technology Voucher Programme
Launched in 2016, the Technology Voucher Programme provides funding of up to HKD 600,000 for each eligible SME to adopt technological solutions to improve productivity, or upgrade or transform business processes. The programme covers six areas of technology, including:
- Financial management systems
- Customer relationship management systems
- Inventory management systems
- Human resources management systems
- E-commerce systems
- Procurement management systems
Distance Business Programme
In response to the COVID-19 pandemic, the Hong Kong government introduced the Distance Business Programme in April 2020. The programme provides a one-off subsidy of up to HKD 100,000 to eligible SMEs to adopt IT solutions for developing distance business. The programme covers the following areas:
- Online business
- Online order taking and delivery, and smart self-service systems
- Online customer services and engagement
- Digital payment or mobile point of sale systems
- Online procurement and supply chain management
Dedicated Fund on Branding, Upgrading and Domestic Sales
The Dedicated Fund on Branding, Upgrading and Domestic Sales provides funding support to eligible enterprises on a 2:1 matching basis. The maximum grant for each project is HKD 4 million. The fund covers the following areas:
- Branding
- Upgrading and restructuring
- Domestic sales
- Intellectual property
Eligibility Criteria
To be eligible for the digital grants, SMEs must meet the following criteria:
- Registered in Hong Kong under the Business Registration Ordinance
- Have been in operation for at least one year
- Have substantive business operations in Hong Kong
- Have a valid business registration certificate
- Have no adverse record with relevant government agencies
- Meet the programme-specific eligibility criteria
Application Procedures
SMEs can apply for the digital grants through the respective programme secretariats. The application procedures may vary depending on the programme. However, generally, the application process involves the following steps:
- Submit an application form with supporting documents
- Wait for the programme secretariat to review the application
- Attend an interview (if required)
- Receive funding approval (if successful)
Conclusion
Digital grants are an excellent opportunity for SMEs in Hong Kong to enhance their productivity and competitiveness through digitalization. The government's initiative to support digital transformation is a step towards building a more resilient and sustainable economy for Hong Kong. SMEs should take advantage of these grants to foster their growth and development.
