Scope of Technology Voucher Program Consultancy Services

Why Choose a Technology Voucher Consultant?

The Technology Voucher Program (TVP) was launched in a pilot form in November 2016, aimed at funding local small and medium-sized enterprises (SMEs) to use technology services and solutions to enhance productivity or upgrade and transform. Why choose a professional Technology Voucher consultant to help you apply for the Technology Voucher? Because a Technology Voucher consultant can help you navigate through the complex processes and challenges of applying for the Technology Voucher. The Technology Voucher Program is one of the most popular government funding programs, and there are specific criteria during the approval process to ensure that public funds are used effectively. Therefore, the entire process, from submitting the application documents to successfully receiving the funding amount, is rigorous and not easy to apply for.

Attempting to apply for the Technology Voucher on your own may encounter the following challenges:

The difference between professional technology voucher consultants and so-called technology voucher consultants in the market?

The three main challenges in applying for technology vouchers:

1. Requesting quotations from suppliers

Firstly, the applying company needs to approach 2 to 5 technology voucher suppliers to obtain quotations. When inviting suppliers to provide quotations, they should also have the suppliers sign the “Integrity Clause” and “Anti-collusion Clause.” This part is the most challenging. When service providers realize that you are a technology voucher applicant, they are eager to know if they are the winning supplier. If the chance of getting the business is low, they may be unwilling to provide a quotation along with the “Integrity Clause” and “Anti-collusion Clause.” This poses a significant challenge for many applicants.

2. The article on completing the application form

When filling out the application form, applicants need to provide company documents such as receipts, proof of expenditures, and other relevant files. In addition, the government will require applicants to write a detailed report to the Innovation and Technology Bureau, explaining any technological challenges their company faces in operations and how implementing technological systems can improve their business. These explanations need to be logical, well-founded, and persuasive. The article should highlight the benefits of applying technological systems. This narrative significantly enhances persuasiveness and is a key factor in a successful application.

3. Dealing with the Government (Responding to Government Inquiries)

This can be considered a crucial key to success. After submitting the application form, don’t think of it as the end of the story. In reality, it’s just the beginning of the challenges. From the submission of the application to eventual success, officers from the Innovation and Technology Bureau may pose 2 to 5 rounds of questions, and applicants need to respond within the given deadlines. The questions typically revolve around the technological solution, quotations, and company background. Due to a lack of experience in dealing with officers for many companies, they often struggle to know how to respond and may sometimes provide irrelevant or misleading answers, leading to both comical and serious consequences. This, at best, prolongs the application process, and at worst, results in application failure with serious repercussions.

Therefore, hiring an experienced consulting team can save the company time and effort, assisting the company in successfully completing the technology voucher application process.

Documents required for technology voucher application

  • Business Registration
  • Verified copy of the Annual Return form (Form NAR1) from the Companies Registry of the applying company
  • Certified copy of proof of substantial business operations
  • Certified copy of the quotation
  • Certified copy of the valid identification of the person signing the application form Integrity and non-collusion clauses within the quotation invitation letter/tender invitation letter

Technology Voucher Audit

  • After a company’s application is approved, it is important to note that all expenses, including checks, receipts, etc., must be in the name of the applying company. If the project amount exceeds HKD 50,000, the accounts will be audited by a registered independent auditor, resulting in an audit report. Additionally, the applying company is required to submit a final implementation report for the project, clearly outlining the outcomes achieved.

Common Technology Voucher Funding Projects

Winning Strategy for Technology Voucher Application

Choosing the Right Technology Supplier

When applying for a technology voucher, selecting the right technology supplier is crucial. This not only ensures that you receive high-quality technical services but also minimizes unnecessary hassles. Choosing a reliable technology supplier increases the chances of a successful application and ensures the project's successful implementation.

Choosing a Technology Project that Meets the Requirements

When applying for a technology voucher, it is essential to choose a technology project that meets the requirements to increase the chances of a successful application. When selecting a technology project, factors such as the cost of the application, the feasibility of the project, and its business value should be taken into consideration.

Prepare the necessary documents

When applying for a technology voucher, it is necessary to provide some essential documents, such as business registration proof, tax certificates, patent certificates, trademark certificates, etc. Adequate preparation of these documents is essential to ensure a smooth application process.

Choose a high-quality technology voucher consultant.

If you lack the relevant professional knowledge, it is recommended to collaborate with a technology voucher consultant. Technology voucher consultants can provide professional advice and recommendations, assist businesses in understanding relevant policies and regulations, and help identify the most suitable technology suppliers, thereby increasing the chances of a successful application.

Technological systems eligible for the Technology Voucher

E-commerce System

An e-commerce system encompasses an online store content management system (CMS), customer and management applications, online payment, online marketing systems, inventory management, and automated data collection systems to facilitate customer transactions and enhance customer loyalty.

Point of Sale (POS) Management System

Handles various store sales scenarios, including cross-store management, member consumption records and management, online-to-offline (O2O) integration, and other retail business requirements, improving operational efficiency.

Customer Relationship Management (CRM)

Customer Relationship Management (CRM) enables companies to centrally manage detailed information about all customers, understand the needs of existing and potential customers, provide data for marketing analysis, and increase sales.

Electronic Appointment System

Whether it's venue management, equipment rentals, business centers, clinics, etc., an appointment system can assist users in one-stop scheduling and provide report analysis to enhance overall operations.

Big Data and Cloud Analytics Solutions

Placing traditional systems on cloud platforms like Amazon Web Services (AWS) contributes to the overall sustainability of IT systems, reduces costs and risks, and enables real-time big data collection and analysis.

Information Sharing Platform

Through the information sharing platform, customers and users can exchange information, reduce information and communication costs, and facilitate transactions and trading volume.

Technology Voucher: Three Tips to Expedite Your Application

Submit Technology Voucher Application

Prepare all necessary documents, including identification, employee proof, business registration copy, proof of substantial business operations, expense quotations, etc. It's advisable to seek advice from experienced technology voucher application consultants to avoid unnecessary complications.

Clearly outline the details of the project implementation

The project must be highly relevant to the business of the applying company. The project specifications must be clear, the budget needs to be reasonable, and the implementation time must be less than 12 months. The track record of both the technology consultant and the supplier for the technology voucher project must be good.

Clearly understand how the technology voucher funding is disbursed.

Submit documents within two months after project completion: the final project report, original or copy of payment receipts for each expenditure item. If the approved funding amount is HKD 50,000 or below, the applying company must submit the final expenditure statement and declaration.

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