Technology Voucher TVP Application Process

6 stages of technology voucher application

The technology voucher application is divided into 6 main stages:

Phase 1: Preparation of technology voucher documents required and application submission

Phase 2: Application Evaluation

Phase 3: Receive notification of results

Phase 4: Project implementation

Phase 5: Project final report and audit accounts

Stage 6: Receipt of money

Phase 1: Preparation of required documents and submission of application

  • Prepare the documents required to apply for the Technology Voucher Program.
  • Register the applicant company in the management system of the Technology Voucher Program.
  • Send quotation invitations to system suppliers and collect quotations.
  • Provide a business registration (BR) certificate, a copy of BR Form 1(a), or NAR1 form from the Registrar of Companies. Provide proof of substantive business operations.
  • Submit an application form for the Technology Voucher Program.

Stage 2: Application evaluation by the Innovation and Technology Commission

  • Assess the relevance of the business of the applicant enterprise.
  • Evaluate the reasonableness of the budget and implementation details.
  • Evaluate the bad records of technical consultants and/or service providers (if any).

Phase 3: Notification of results

  • When the TVP application is successful and before the project starts, a funding agreement must be signed with the Innovation and Technology Commission (ITC).

Phase 4: Project implementation

  • The project is limited to be completed within 12 months. Prepare the submission of the final project report.

Phase 5: Project final report and audit accounts

Applicants must submit the following documents within two months after the completion of the TVP funded project:

  • Final project report
  • Final results report
  • Audit accounts: For each expenditure item of the Technology Voucher Program, original or photocopy receipts need to be submitted. When the approved funds exceed HK$50,000, a qualified independent auditor must submit an audited expense statement to ITC. When the approved capital is less than HK$50,000, the applicant company must submit and announce the final expenditure statement.

Stage 6: Receipt of money

After all the documents have been submitted, the Innovation and Technology Commission will make a final audit report, and when everything has been reviewed, it will approve the payment.