【2023 Government Subsidy】Digital Transformation Support Pilot Program | Compare with other Subsidies
Table of Contents:
・Digital Transformation Support Pilot Programme
・Funding Scheme Comparison
This article will focus on introducing the “Digital Transformation Support Pilot Programme” and compare it with three other major government funding programs: Technology Voucher Programme (TVP), SME Export Marketing Fund (EMF), and Dedicated Fund on Branding, Upgrading and Domestic Sales – Enterprise Support Programme (BUD). This will enable you to choose the most suitable funding program based on your needs and requirements, effectively driving business development and digital transformation.
Digital Transformation Support Pilot Scheme – Introduction
The key feature of the Digital Transformation Support Pilot Programme is that is involves purchasing “pre-defined solutions”. As all the solutions have already been approved in advanced, there is no need for multiple quotations to apply. However, since each solution is pre-defined and cannot be modified, it may take more time to find the most suitable solution for your needs.
Funding Scope
- Electronic Payment Systems and In-store Sales
(E.g.: Point of Sale (POS) systems, mobile ordering, self-service kiosks, vending machines, etc.)
- Online Marketing
(E.g.: Online stores, official websites, Google/Facebook advertising, SEO (Search Engine Optimization), etc.)
- Customer Management and Loyalty Programs
(E.g.: Membership apps, brand apps, coupon systems, CRM (Customer Relationship Management) systems, etc.)
Funding Amount
Under the program, eligible businesses can receive a maximum funding of HK$50,000 per company through one-on-one matching. The total funding ceiling for each project is HK$100,000.
Eligibility Criteria
The program primarily targets small and medium-sized enterprises (SMEs) in the food and beverage industry and retail industry. Businesses must be registered in Hong Kong and have substantial operational activities.
Implementation Schedule
*Round 1: Food and Beverage Industry – Electronic Payment Systems and In-store Sales
Expected to accept applications in March.
Round 2: Retail Industry – Electronic Payment Systems and In-store Sales (POS)
Expected to accept applications in April.
———————————————
Other program categories schedule:
Food and Beverage Industry – Online Marketing (No schedule available)
Retail Industry – Online Marketing (No schedule available)
Food and Beverage Industry – Customer Management and Loyalty Programs (No schedule available)
Retail Industry – Customer Management and Loyalty Programs (No schedule available)
Funding Scheme Comparison
Digital Transformation Support Pilot Programme |
TVP |
EMF |
BUD | |
|---|---|---|---|---|
| Funding Purpose | Buy existing package solutions | Purchase customized technology projects | Simple overseas marketing activities, such as creating web pages, advertising, etc | Large-scale overseas marketing activities, including recruiting people overseas, local office rent, etc. |
| Funding Upper Limit | HK$50,000 |
HK$600,000 | HKD 1 million | HKD 7 million |
| Funding Ratio | 50% | 75% | 50% | 50% |
| Number of Quotations | Not Required | 3-5 copies, depending on the purchase amount | 2-5 copies, depending on the purchase amount | 2-5 copies, depending on the purchase amount |
| Application Difficulty | Low | High | Low | High |
| Project Implementation Time | 1 Year | 12-16 months | 4-6 months | 18-24 months |
Conclusion – Apply for appropriate government funding based on business needs
Digital Transformation Support Pilot Programme – Suitable for purchasing ready-made digital solution packages
Advantages:
1/No need for multiple quotations, as pre-existing digital solutions can be procured.
2/Relatively simple application process.
Disadvantages:
1/Only applicable to the retail and food and beverage industries.
2/Limited choices, as there may be low interest from solution providers.
(Due to less attractive funding terms and high entry barriers)
Technology Voucher Programme (TVP) – Suitable for customized technology projects
Advantages:
1/High funding ratio (up to 75% funding).
2/Customizable to meet specific business requirements.
Disadvantages:
1/Requires 3-5 quotations and has a certain level of difficulty in writing project proposals (recommend seeking assistance from intermediaries).
2/Lengthy application process, taking 12-16 months.
SME Export Marketing Fund (EMF) – Suitable for simple overseas marketing (e.g. overseas websites, advertising)
Advantages:
1/Simple application process with a shorter approval time (4-6 months).
2/Generally accessible for businesses to apply on their own.
Disadvantages:
1/Can only be used for overseas marketing or local exhibitions.
2/Maximum funding amount is limited to HK$100,000 per application
3/Requires multiple quotations.
Dedicated Fund on Branding, Upgrading and Domestic Sales – Enterprise Support Programme (BUD) – Suitable for large-scale overseas marketing (hiring staff, rent, etc.)
Advantages:
1/High funding amount (yp to HK$1 million per application, with a total of HK$7 million).
2/Wide range of usage, including hiring local staff, advertising expenses, and rent.
Disadvantages:
1/Only applicable for overseas marketing.
2/Long application process, taking 18-24 months to complete the project.
3/High application difficulty, requiring multiple quotations and extensive reports.
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