Help for manufacturers to become smart and businesses develop distance policies during pandemic.
The Hong Kong Innovation and Technology Commission (ITC) has launched the Re-industrialisation Funding Scheme to subsidise manufacturers to set up new smart production lines in Hong Kong to develop and promote re-industrialisation in Hong Kong.
The Government’s HK$2 billion re-industrialisation funding scheme has been released under the Innovation and Technology Fund (ITF).
The aim is to encourage manufacturers to develop advanced manufacturing industries in Hong Kong that are based on smart production with a view to identifying new growth points for the local economy,” a spokesman for the Commission said.
The scope of funding 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 or apparatus, as well as fees for engaging technical consultants for the design and setting up of the production line concerned (testing and staff training costs inclusive).
The Government has set up the Re-industrialisation Funding Scheme Vetting Committee to vet eligible applications. The Committee is chaired by Jimmy Kwok Chun-wah with members from the industrial and commercial sector, the innovation and technology sector, the professional services sector, academia and relevant government departments and public bodies.
The Innovation and Technology Commission has also introduced enhancement measures for the Distance Business Programme to further support enterprises to develop distance business during the epidemic.
The Programme has received an overwhelming response since its launch, reflecting the enterprises’ keen demand for developing distance business during the epidemic, a spokesman for the Commission said.
“In view of the extended epidemic situation, we decided to introduce a number of enhancement measures in response to the industry’s needs and to enable enterprises to make the best use of the funding to adopt a variety of information technology (IT) solutions to develop distance business,” they said.
- The enhancements are as follows:
From 9am on August 31, enterprises may submit a second application in which the categories of the IT solutions must be different from the approved categories in the first application. They may submit a second application after they have replied to the Secretariat on the result of the first application. The assessment criteria of the Programme remain unchanged. Each enterprise may receive aggregate funding of up to HK$300,000
- The funding period for subscription-based IT solutions will be extended from six months to 12 months. This arrangement is also applicable to applications approved earlier
- The restriction that related entities being regarded as one single entity are not allowed to submit applications will be lifted
- Social enterprises with certifications issued by the Hong Kong Council of Social Service for the Distance Business Programme will also be eligible.
The Distance Business Programme aims to provide funding support for enterprises to continue business and services during the epidemic through adoption of IT solutions.