- info@eastop.com
The Technology Voucher Programme (TVP) subsidizes companies in using technological solutions to raise productivity, and upgrade or transform existing business processes. The maximum grand celling of each applicant is $600,000. An initial funding payment will release in advance upon request after signing the funding agreement. The final payment will disburse to the applicant after project completion and submission of related reports.
With effect from 14 August 2020, the Innovation and Technology Commission (ITC) has relaxed the restriction pertaining to related entities for the Technology Voucher Programme (TVP). Related entities, defined as enterprises/ organisations set up as different legal entities but having the same individual(s) holding 30% or more ownership in each of the enterprises/organisations, are no longer treated as one single entity for the purpose of calculating the cumulative funding amount under the TVP.
| List of solutions | Enterprise Resource Planning ERP , for further information=> Eastop ERP System Online Shop / e-Shop , for further information=> Eastop e-Shop Point of Sales System POS, for further information=> Eastop POS System Warehouse / Inventory Management System WMS, for further information=> EWMS System Human Resources System EHR, for further information=> EHR System Manufacturing Automation System EMA, for further information=> EMA System Server (Equipment / Hardware) |
| Cumulative fund celling | $600,000 |
| Maximum no. of projects | 6 |
| Funding ratio by TVP (%) | 75% |
| Contribution ratio by applicant (%) | 25% |
| Eligibility | · Registered in Hong Kong under the Business Registration Ordinance or Companies Ordinance with substantive business operation in Hong Kong · Not a listed company in Hong Kong, and not a government subvented organization or subsidiary of any government subvented organization |
| Documents required | 1. Copy of Form 1(a)/1(c) of the Business Registration Office or the latest Annual Return of the Companies Registry (Form NAR1) of the applicant 2. Copy of the documentary evidence proving that the applicant has substantive business operations in Hong Kong 3. Copy of the valid Hong Kong Identity Card or passport of applicant 4. Copies of all the signed probity and non-collusive quotations / tendering certificates 5. Copies of the quotations |
Mr. Patrick Lee, an owner of a camera chain store, runs a retail and wholesale business of photographic equipment. With success in operating two physical stores in Hong Kong, he is now planning to open an online shop to grow his business. Under the condition of his company is registered and operates in Hong Kong, Mr. Lee is fully eligible to apply for funding under TVP.
A ready-to-use ERP software, which designed for simple company structure with limited functions, implemented when Mr. Lee first started his business. Owing to the online shop and physical stores not fully integrate into one platform, Mr. Lee and his team complete daily job tasks manually on two separate backends, for example, input new product information, promotion and do calculations for inventory control. As his photographic business grows, he is now looking for an advanced ERP system with a centric-management platform to minimize wrong orders and shipping resulting from those manual workflows.
Eastop ERP System is a total solution that integrates Warehouse Management System (WMS), Point of Sales System (POS) and e-Shop (e-Shop). Product, price, promotion, and customers managed on one single backend platform. All input data from the backend will synchronize to both online shop and two retail chain stores. Meanwhile, sales and pre-orders from all shops will be merged and automatically updated to the ERP system, which optimizes wine inventory, shipping, order fulfillment, and payments. Bypassing redundant data entry, Eastop ERP System helps Lee’s company to unify all data and transactions from different sales channels, reduce the workload and operation cost eventually. This one-stop ERP solution costs $280,000 before Mr. Lee gets the funding from the TVP program.
System Total Cost: $280,000
Eligible Funding Amount: $280,000 * 75% = $210,000
Initial Funding Payment: $210,000 * 25% = $52,500
Final Funding Payment: $210,000 * 75% = $157,500
Mr. Lee could apply for TVP funding again for system upgrades or increase the number of users in the future to make good use of the remaining fund amount $390,000 in total ($600,000 – 210,000 = $390,000).
Source of information: Innovation and Technology Fund - Innovation and Technology Commission, The Government of the Hong Kong Special Administrative Region
Website: https://www.itf.gov.hk/l-eng/TVP.asp
Hotline: (852) 3523 1170
E-mail: tvp-enquiry@itc.gov.hk
With effect from 14 August 2020, the Innovation and Technology Commission (ITC) has relaxed the restriction pertaining to related entities for the Technology Voucher Programme (TVP). Related entities, defined as enterprises/ organizations set up as different legal entities but having the same individual(s) holding 30% or more ownership in each of the enterprises/organizations, are no longer treated as one single entity for the purpose of calculating the cumulative funding amount under the TVP.
To facilitate the early adoption of the relevant technological services or solutions by applicants, with effect from today, the ITC will relax the requirement for Technology Voucher Programme (TVP) applicants to obtain approval from the ITC before commencement of the projects. All applicants can start their projects on the day following the submission of the application at the earliest. An applicant who commences its project while the application is under processing must submit a duly completed "Declaration and Undertaking" to the ITC no later than five working days after the actual commencement date of the project. Applicants should also note that they will have to bear the full costs of their projects themselves if their applications are subsequently not approved.
Technology Voucher Programme (TVP) is further enhanced to ease the economic hardships resulting from the coronavirus outbreak. Under the new TVP measurements, the funding ratio is now raised to 75%, with a cumulative subsidy up to $600,000 per applicant for a maximum of 6 projects. (Applicable to applications received on or after 1 April 2020.)
Source of information: Innovation and Technology Fund - Innovation and Technology Commission, The Government of the Hong Kong Special Administrative Region
Website: https://www.itf.gov.hk/l-eng/TVP.asp
Hotline: (852) 3523 1170
E-mail: tvp-enquiry@itc.gov.hk
The Technology Voucher Programme (TVP) subsidizes companies in using technological solutions to raise productivity, and upgrade or transform existing business processes. The maximum grand ceiling of each applicant is $600,000. An initial funding payment will release in advance upon request after signing the funding agreement. The final payment will disburse to the applicant after project completion and submission of related reports.
Source of information: Innovation and Technology Fund - Innovation and Technology Commission, The Government of the Hong Kong Special Administrative Region
Website: https://www.itf.gov.hk/l-eng/TVP.asp
Hotline: (852) 3523 1170
E-mail: tvp-enquiry@itc.gov.hk
The list of Eastop’s products covered in Technology Voucher Program (TVP):
Source of information: Innovation and Technology Fund - Innovation and Technology Commission, The Government of the Hong Kong Special Administrative Region
Website: https://www.itf.gov.hk/l-eng/TVP.asp
Hotline: (852) 3523 1170
E-mail: tvp-enquiry@itc.gov.hk
Mr. Patrick Lee, an owner of a camera chain store, runs a retail and wholesale business of photographic equipment. With success in operating two physical stores in Hong Kong, he is now planning to open an online shop to grow his business. Under the condition of his company is registered and operates in Hong Kong, Mr. Lee is fully eligible to apply for funding under TVP.
A ready-to-use ERP software, which designed for simple company structure with limited functions, implemented when Mr. Lee first started his business. Owing to the online shop and physical stores not fully integrate into one platform, Mr. Lee and his team complete daily job tasks manually on two separate backends, for example, input new product information, promotion and do calculations for inventory control. As his photographic business grows, he is now looking for an advanced ERP system with a centric-management platform to minimize wrong orders and shipping resulting from those manual workflows.
Eastop ERP System is a total solution that integrates Warehouse Management System (WMS), Point of Sales System (POS) and e-Shop (e-Shop). Product, price, promotion, and customers managed on one single backend platform. All input data from the backend will synchronize to both online shop and two retail chain stores. Meanwhile, sales and pre-orders from all shops will be merged and automatically updated to the ERP system, which optimizes wine inventory, shipping, order fulfillment, and payments. Bypassing redundant data entry, Eastop ERP System helps Lee’s company to unify all data and transactions from different sales channels, reduce the workload and operation cost eventually. This one-stop ERP solution costs $280,000 before Mr. Lee gets the funding from the TVP program.
System Total Cost: $280,000
Eligible Funding Amount: $280,000 * 75% = $210,000
Initial Funding Payment: $210,000 * 25% = $52,500
Final Funding Payment: $210,000 * 75% = $157,500
Mr. Lee could apply for TVP funding again for system upgrades or increase the number of users in the future to make good use of the remaining fund amount $390,000 in total ($600,000 – 210,000 = $390,000).
Source of information: Innovation and Technology Fund - Innovation and Technology Commission, The Government of the Hong Kong Special Administrative Region
Website: https://www.itf.gov.hk/l-eng/TVP.asp
Hotline: (852) 3523 1170
E-mail: tvp-enquiry@itc.gov.hk