RIC Hong Kong Blog
Essential Updates on the Latest HK Government Grants and Industry Trends
 With the recent and abrupt cessation of Hong Kong’s Technology Voucher Programme (TVP) on December 31, 2024, many businesses are seeking alternative funding options to drive technological and operational improvements. Historically, the TVP grant played a crucial role in helping small and medium enterprises (SMEs) adopt technology solutions to enhance productivity and competitiveness. While its closure marks the end of an era, there are several other funding schemes available that can fill this gap. Here are some notable alternatives which are still actively administered (as of Jan 2025):
For Software Adoption To Improve Operational Processes: 1. Digital Transformation Support Pilot Programme (DTSPP) The Digital Transformation Support Pilot Programme (DTSPP) is designed to help SMEs in the retail, food and beverage (F&B), tourism, and personal service industry sectors adopt ready-to-use digital solutions. These solutions include digital payment systems, customer relationship management (CRM) tools, and online promotions plarforms. Initially, the DTSPP primarily focused on supporting SMEs in the F&B sector. However, starting from the second half of 2024, the programme expanded its scope to include the retail, tourism, and personal service industries. This expansion reflects the government’s commitment to addressing the diverse needs of SMEs in Hong Kong and promoting technological adoption across various business sectors, and it will continuously expand to encompass more industries in the future. Additionally, the DTSPP requires that solutions providers be pre-approved to ensure quality and reliability. This measure guarantees that businesses receive robust, industry-standard solutions tailored to their operational needs. Interested solution providers can enrol their solutions here: https://dtspp.cyberport.hk/solution-providers/. Key Details:
For Adopting Sales & Marketing Technology To Expand Into New Markets 2. Dedicated Fund on Branding, Upgrading, and Domestic Sales (BUD Grant) The BUD Grant has established itself as a cornerstone of support for enterprises aiming to enhance their market presence, elevate operations, and expand their reach into external markets. With its focus on fostering growth through strategic initiatives, this funding is particularly advantageous for businesses looking to develop or enhance digital platforms tailored to securing sales in overseas markets. One of the most relevant uses of the BUD Grant is in developing websites, mobile applications, or customized online sales platforms designed explicitly to drive revenue generation in foreign markets. These digital solutions must directly contribute to sales, such as enabling seamless e-commerce functionality, integrating localized payment gateways, or offering region-specific promotional tools. Unlike systems intended for internal or operational purposes, the grant strictly supports platforms that enhance a business's ability to generate sales and engage customers in new markets. Key Details:
3. Easy BUD As an extension of the BUD Grant, Easy BUD is designed to streamline the application process for businesses seeking funding to support their digital growth and international expansion. This simplified funding option provides up to HK$1 million per enterprise to help businesses develop digital marketing strategies and create websites or mobile applications tailored specifically for cross-border market promotion and sales. Supporting Overseas Sales through Digital Innovation The key focus of Easy BUD is to enable businesses to establish or enhance their digital platforms with a clear focus on generating sales in overseas markets. Funding can be utilized for the development of websites and mobile apps that offer region-specific e-commerce functionalities, and other digital features designed to drive customer engagement and boost conversions in foreign markets. Projects must be oriented towards achieving tangible sales outcomes, such as developing an online sales platform with local payment systems, creating a mobile app that targets international consumers with personalized shopping experiences, or launching digital marketing campaigns aimed at increasing market penetration and revenue generation abroad. Key Details:
4. E-commerce Easy BUD The E-commerce Easy BUD grant is a specialized version of Easy BUD, tailored to businesses aiming to build and enhance their e-commerce operations in cross-border markets, with a particular focus on the China market. This grant simplifies the application process while providing targeted support for projects that improve online sales channels, digital marketing, and platform integrations specifically for China’s unique e-commerce ecosystem. Driving Sales Through China-Specific E-commerce Platforms E-commerce Easy BUD empowers businesses to capitalize on China’s thriving digital economy by supporting the development of online sales platforms, websites, and mobile applications. The funding is designed to help enterprises integrate with and optimize their presence on major Chinese e-commerce and marketing platforms such as Xiaohongshu (Little Red Book), Douyin (TikTok China), Taobao, and other regionally dominant channels. Key Details:
5. SME Export Marketing Fund (EMF) The SME Export Marketing Fund (EMF) is a targeted grant designed to support businesses aiming to expand their reach into overseas markets. Beyond traditional export promotion activities such as trade fairs and international exhibitions, the EMF plays a pivotal role in enabling businesses to enhance their digital presence. This includes the development or improvement of corporate websites and mobile applications, specifically geared toward generating sales and promoting products or services in markets outside Hong Kong. Key Details:
Conclusion While the closure of the TVP grant is a significant change, businesses in Hong Kong still have access to robust funding options that can support their growth and innovation. Whether you’re focused on digital transformation, market expansion, or e-commerce, these grants offer ample opportunities to enhance competitiveness and drive success.
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