What is TVP
Replacing or upgraing your traditional PBX to IPPBX can bring a new suite of features and benefits to improve the communication process between company and customers, contributing to business growth.
At the same time, technology upgrade is one of the areas subsidised by the Technology Voucher Programme (TVP). Business owner may take TVP into consideration when budgeting PBX upgrade.
Technology Voucher Programme (TVP) is a funding scheme under the Innovation and Technology Fund (ITF) of the HKSAR Government that aims to subsidise non-listed local entities in using technological services and solutions to improve productivity, or upgrade or transform their business processes.
The Innovation and Technology Fund (ITF), administered by the Innovation and Technology Commission, aims to increase the added value, productivity and competitiveness of our economic activities. The Government hopes that, through the ITF, Hong Kong companies could be encouraged and assisted to upgrade their technological level and introduce innovative ideas to their businesses.
Since 1 April 2020, the Government has further enhanced the TVP. The Government's funding ratio in each approved project has been raised from two-thirds to three-quarters. The funding ceiling per applicant has been increased from $400,000 to $600,000 and the maximum number of approved projects has also been increased from four to six. (Attention: The above measures are only applicable to applications received on or after 1 April 2020. Applicants with applications submitted before the above date but wishing to apply for a higher funding amount through the enhancement measures should withdraw the original application in the TVP Funding Administrative System (https://tvp.itf.gov.hk) and submit a new one on or after 1 April.)
The approved funding from TVP can be used to cover the following:
Technology Consultancy – the applicant may engage a technology consultant to provide external consultancy for conducting the project under application. The consultant must be a local university or research institution, or a company registered in Hong Kong under the BRO.
Purchase, rental or subscription of customised equipment/hardware, software and technological services or solutions that form an essential part of the project.
Purchase, rental or subscription of off-the-shelf/readily available equipment/hardware, software and technological services or solutions that form an essential part of the project. In general, the costs of such equipment/ hardware/ software/ services or solutions should constitute no more than 50% of the project cost.
Project auditing for projects with approved funding exceeding $50,000. The maximum audit fee to be counted towards the total project cost is $3,000.
Normal business operating costs will not be funded under TVP.