SMEs | Information Technology Solutions
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5 major areas of government funding
Corporate Finance Advisory
Re-industrialisation Funding Scheme (RFS)
The Government launched the Re-industrialization Funding Scheme (RFS) in 2020 to subsidize manufacturers on a matching basis to set up new smart production lines in Hong Kong.
Applications approved in the past have covered a wide range of industries, including biotechnology, food processing, construction, printing, medical devices and nanofiber materials.
Internet of Things
Machine Learning
Real-time Data Analysis
Automation
Funding
Funding will be provided on a 1 (government) : 2 (company) matching basis.
Maximum funding support: one-third of the total approved project cost or $15 million per project, whichever is lower.
Funding scope:
Expenses directly related to the establishment of the new production line in Hong Kong,
Entire or a significant portion of the production line under application should fulfil the "smart manufacturing" criteria
Project duration: normally within 24 months.
Eligibility
All companies incorporated in Hong Kong under the Companies Ordinance are eligible to apply for funding under the RFS for setting up new smart production lines in Hong Kong.
The production lines can be set up in or outside the industrial estates of the Hong Kong Science and Technology Parks Corporation.
All industrial sectors are welcomed.
Scope of Funding
The funding under the RFS covers expenses directly related to the establishment of the new smart production line in Hong Kong, including the costs of procurement, installation and commissioning of the machinery/equipment/apparatus, fees for engaging technical consultant(s) for the design and setting up of the production line concerned, relevant testing and staff training, patent registration fee, external audit fee , as well as legal service fee related to the legal charge on the funded production line.
While normal business operating expenses of the applicant cannot be funded under the RFS.
As the objective of the RFS is to subsidies manufacturers to set up new smart production lines in Hong Kong.
Projects on upgrading existing production lines will not be approved.
A company may consider the Technology Voucher Programme for the purpose.
Click here to explore more information about TVP.
Smart Production Line
The production line or a significant portion of the production line should fulfil the "smart manufacturing" criteria,
i.e. the integrated and intelligent use of "smart" technologies such as Internet of Things, real-time data, application of data analytics and advanced human-machine interfaces, artificial intelligence/machine learning/deep learning, automation and robotics, sensors and actuators, etc. in the production process.
Contact our consultants for more information.
Suitable IT solutions will be customized for your business to assist you to apply for the fund.
