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Hong Kong Manufacturer's Tight Grasp of Business Opportunity Arisen from Policy Change
Gift Concept Products Limited
Enterprise's Insight
Gift Concept Products Limited mainly designs and produces silicone products, and they have a brand that sells silicone-based products for infants and children. They were looking forward to expanding to the huge market in Mainland China, paying close attention to the potential and opportunities driven by the policies there.
Target Market
Mainland China
Industry
Infant products manufacturing and retail
Enterprise Scale
12 employees
Total Budget
HK$1,678,000
The success of a project requires preparation of resources and time. Instead of combining a lot of business development plans into a big project, we believe that by adjusting the project scale into a smaller one, we can complete it sooner, receive funding earlier, and apply for the next project funding.
Mr. Stanley Cheung | Gift Concept Products Limited
Project Content
Project 1
First Stage(2017)
Project Duration
6 months
Project Budget
HK$384,000
Upgrading and Restructuring
Promoting Sales
Upgrading or Developing Products
Machinery / Equipment
Design and develop molds for new products
Advertising and Promotion
Participate in Exhibition / Roadshow
Participate in exhibitions in Hong Kong and Shanghai to promote the brand and sell products
Project Audit
Audit Fee
External audit fee for the approved project accounts
Upgrading and Restructuring
Promoting Sales
Additional Business Entity and Manpower
Recruit Additional Manpower
Hire staff in Hong Kong to handle Mainland marketing affairs and product sales promotion, as well as co-ordinating exhibitions
Upgrading or Developing Products
Machinery / Equipment
Design and develop molds for new products
Advertising and Promotion
Participate in Exhibition / Roadshow
Participate in exhibitions in Hong Kong and Shanghai to promote the brand and sell products
Project Audit
Audit Fee
External audit fee for the approved project accounts
* Past cases are for reference only. Refer to
Guide to Application for the latest requirements.
Interview Summary
Practical Tips
If the scope is smaller, the project can be completed sooner and you will receive funding earlier

The BUD Fund requires planning before execution. Even there is initial payment, full funding can only be received after the project is executed in full. A project can be as long as 2 years, and discrepancies from the original plan over this period are often inevitable, complicating the project. Instead of stuffing a lot of measures into a large project, we believe that a project can be completed faster by reducing the scope so that the funding can be received earlier. We can always take advantage of the remaining funding quota by applying for another project.

No need to put everything in the project if you have a more efficient way of doing it

During the application, we would consider the efforts and time needed to go through the procurement process, and decide which measures are appropriate to include in our application, and which can be implemented internally.

Collaborating with external vendors not only requires careful research, but also time to obtain multiple quotations and deal with all the receipts. If it is easier and quicker to assign some tasks directly to competent staff or quality vendors whom we have collaborated well before, we think these tasks should not be included in the application.

Gain a clear understanding of the scope of funding and don't miss out

We have a strong need to protect our intellectual properties, as we are developing our own products in the Mainland and selling them there at the same time. In our two previous applications, we did not take advantage of including the measures related to patent/trademark registration application offered by the BUD Fund. We only found out about this measure at a seminar after submitting our second application. Unfortunately, we couldn't modify our application at that point. We will definitely consider including this in our next application.

We suggest you to familiarize yourself with the scope of funding, to ensure that you can get the most out of the Fund's support. Even if you have applied before or plan to apply again, be sure to stay up-to-date with the latest measures, and don't miss out.

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