SME Development Fund

Introduction Introduction
Guide to Application Guide to Application
Eligibility Eligibility
Scope of Funding Scope of Funding
Amount of Funding Amount of Funding
Application Procedures Application Procedures
Assessment Assessment
Terms and Conditions of Funding Support Terms and Conditions of Funding Support
List of Approved Applications List of Approved Application
List of Project Results List of Project Results (temporarily unavailable)

 

Introduction Introduction

The SME Development Fund (SDF) aims at providing financial support to projects carried out by non-profit-distributing organisations operating as support organisations, trade and industrial organisations, professional bodies or research institutes to enhance the competitiveness of Hong Kong's SMEs in general or SMEs in specific sectors. Applicants shall either be a statutory organisation, or a registered organisation under the laws of Hong Kong Special Administrative Region. Projects in receipt of other public funding will not be funded.

SDF is administered by the Trade and Industry Department upon the advice of a vetting committee.

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 Guide to Application Guide to Application

For details about the Fund, please click here and download the Guide to Application for SME Development Fund.

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 Eligibility Eligibility

Non-profit-distributing* organisations operating as support organisations, trade and industrial organisations, professional bodies or research institutes are eligible to apply.

Applicants shall either be a statutory organisation, or an organisation registered under the laws of the Hong Kong Special Administrative Region.

Project in receipt of other public funding will not be funded.

* A non-profit-distributing organisation is defined as an organisation of which profits are not distributed to its directors, shareholders, employees, or any other persons.

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 Scope of Funding Scope of Funding

Proposed projects should be conducive to the competitiveness of Hong Kong's SMEs in general or in specific sectors. The SDF Secretariat may from time to time invite project applications on specific themes.

Projects to be supported may include research studies, award schemes, codes of best practice, conferences, seminars, databases, exhibitions, service centres, support facilities and technology demonstration projects.

SDF will normally fund projects that will be completed in 2 years. Projects which are intended to be operated on a long-term basis have to demonstrate their financial viability subsequent to the cessation of funding support from SDF.

Items to be subsidised Items to be subsidised

The following items incurred by the project may be funded:

 

  1. Manpower
    Only the salary (including employer's contributions to the Mandatory Provident Fund) of the additional manpower directly incurred for the project would be funded.

    Monthly time sharing record should be maintained for manpower charged on a pro-rata/hourly basis.

  2. Equipment
    Only the cost of procuring or leasing of additional equipment for implementing the project can be charged to SDF.
  3. Other direct cost
    All other costs directly arising from the project will be funded. This may include:
  1. Expense for consumables
  2. External Consultant fees
  3. Production and promotion cost of project results (such as advertising and the organisation of seminars)
  4. Travelling expense
     This should not exceed 5% of the total budgeted expenditures. Expense should be incurred by project team members. For flight charges, only cost of economy class fares is covered.
  5. External audit fees
    The maximum funding allowed for each audit of the project should not be more than $10,000.
  6. Patent registration fee
    Patent registration fee directly relating to the project of not more than $100,000, or 90% of the total direct costs involved in patent applications, whichever is lower, may also be included in the budget.
 

Items not to be subsidised Items Not to be subsidised

The SDF funding will not cover overhead expenses such as rental/renovation expenses, utility expenses, entertainment expenses, expenses for luncheons/dinners and other administration costs (unless otherwise expressly approved).

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Amount of Funding Amount of Funding

The maximum amount of funding support for any approved project will be HK$2 million, or 90% of the total project expenditure (whichever is lower). The applicant organisation will have to contribute the remaining amount, which may be in cash, in kind or in the form of third-party sponsorship.

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Application Procedures Application Procedures

The SME Development Fund is open to applications all year round. Each applicant may put in up to two applications in a quarter, which translates to a total of eight applications per year.

Applicants should provide 3 hardcopies and a softcopy of the completed "Application Form for SME Development Fund" together with the supporting documents to Trade and Industry Department. No application fee is charged.

  1. A photocopy of the Applicant's registration document. Please provide copies of Business Registration Certificate, Certificate of Incorporation, and Memorandum and Articles of Association (if applicable);
  2. A photocopy of the certified true copy of the Applicant's latest annual return obtained from the Companies Registry (if applicable);
  3. A photocopy of the audited accounts of the latest financial year (if applicable);
  4. Curriculum Vitae of key members of the Project team;
  5. Documentary evidence for other funding support applications (if applicable); and
  6. Documentary evidence of sponsorship or funding from other sources (if applicable).

Applicants may lodge their applications to Trade and Industry Department by post, in person, or by electronic means.

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Assessment Assessment

A vetting committee chaired by the Director-General of Trade and Industry (DGTI) and comprises experts and representatives from different sectors is set up to assess applications and monitor funded projects. The vetting committee will assess applications on a quarterly basis. Applications received between January and March will be assessed in one batch; those received between April and June will be assessed in another; and so forth. Where necessary, comments and advice will be sought from outside experts.

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Terms and Conditions of Funding Support Terms and Conditions of Funding Support

Successful applicants will be required to sign an agreement with the Government (the Agreement) and to comply with all the terms and conditions laid down in the Agreement, the Guide to Application for SDF and all instructions and correspondences issued by DGTI in respect of the project.

To facilitate monitoring and evaluation of projects, successful applicants will need to hand in progress/final reports and financial reports.

 

Last update: 31 March 2008

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