You may have heard of the new D-Biz Program making its rounds! It’s a part of the the Hong Kong Government’s Anti Pandemic Fund and they’re looking to help you upgrade your digital solutions. This means you could be entitled to receiving $300,000 HKD towards an IT solution or a digital upgrade. You can read the details straight off the government site here.
What is it and why are they giving out cash? Due to the outbreak of COVID-19, the Hong Kong Government has realised they need to help businesses make a shift from traditional business models to digital. It was evident through the pandemic, that the businesses who had the strongest online presence prevailed.
As a way of the Hong Kong government to support such ventures, they have recently launched the “D-Biz Programme“, an anti-pandemic funding scheme.
A Hong Kong-registered enterprise is entitled to get $100,000 HKD for every IT solution that they want to undertake. But overall, every company may receive up to $300,000 HKD, which can be used to fund multiple IT-related projects.
Once an application has been approved, the enterprise will receive the initial 30 percent. The remaining 70 percent will be disbursed after the project has been completed and the supporting documents have been accepted. Please note, a project shall only be implemented once the application is approved.
All private enterprises with a valid Business Registration Certificate, ongoing business commenced before 1 January 2020 and substantive business operation in the industry related to the project in the application at the time of application are eligible.
The following are NOT eligible:
- Publicly listed companies
- Statutory bodies
- Government-funded NGOs
- Companies with substantial business operations outside of Hong Kong.
Applications are currently open. Period runs from May 18, 2020 to October 31st, 2020.
Covered IT Solutions
- Digital Customer Experience Enhancement
- Online Business
- Digital Order Taking and Delivery, and Smart Self-Service Systems
- Online Customer Services and Engagement
- Digital Payment/Mobile Point of Sale
- Online/Cloud-Based Financial Management Systems
- Online/Cloud-Based Human Resources Management Systems
- Remote Document Management, Cloud Storage and Remote Access Services
- Virtual Meeting and Conference Tools
- Virtual Team Management and Communications
- Cybersecurity Solutions
- Other Online Business Support Systems
You can see the details of each here.
- Explore the IT solution that your business needs and seek advice. Once you have identified your needs, the next step is for you to look for the best agency that can assist you in gearing your business to work better online.
- Prepare all the documents that you need to support your application like HKBR, invoice, MPF statement, rent receipt, contract, purchase order, and other paperwork that can prove your business operation prior to January 1, 2020.
- Submit your application online.
- Wait for the HKPC approval, which takes at least 10 days.
- Once you get the approval, you can obtain the 1st instalment of funding (30%). Take note that you may be able to get as much as $100,000 HKD for every project. Each company can apply for 3 projects, which allows you to receive up to $300,000 HKD.
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