Hong Kong stops taking applications for Technology Voucher Programme

The Innovation and Technology Commission announced on Friday that the Technology Voucher Programme will cease accepting applications after December 31, 2024.

The program was launched under the Innovation and Technology Fund in November 2016 to subsidize local enterprises or organizations in using technological services and solutions on a matching basis.

The program accepts applications from all industries and does not have pre-defined types of eligible technological services.

As of November 30 this year, 37,059 applications involving a total funding amount of about HK$6.6 billion have been approved, which helped enterprises improve productivity, and upgrade or transform their business processes, the office said.

A spokesman said the decision was made to ensure the proper use of public resources and the overall sustainability of the Innovation and Technology Fund so that it can continue to drive high-quality development of Hong Kong's economy.

“The Government considers that the Technology Voucher Programme has achieved its original intent. In recent years, the Government has continued to strengthen support measures for different industries, and many bureaus and departments have introduced more targeted funding schemes dedicated to the specific conditions or operational needs of individual industries.

“In view of this, the Government has decided to cease accepting new Technology Voucher Programme applications after December 31 this year,” the spokesman said.