Application Process

 

New Round of Enhancements to BUD Fund

A new round of enhancement measures to the BUD Fund was implemented on 20 January 2020.  The enhancement measures are summarised below:

  • Extending the geographical coverage of the BUD Fund to all economies with which Hong Kong has signed Free Trade Agreements (FTAs)#.

  • Increasing the cumulative funding ceiling per enterprise to HK$4 million, including HK$2 million for projects in the Mainland and HK$2 million for projects in ASEAN and other FTA markets.

  • Increasing the ratio of initial payment from 25% to up to 75% of the total approved government funding.

  • Removing the requirements for the grantee to open and maintain a separate interest-bearing bank account and to deposit into the account the required amount of matching funds before receiving the initial payment.

  • All projects, including those opting for initial payment, can commence upon submission of applications.

  • Relaxing the budget cap of individual expenditure items (including procuring/leasing of additional machinery/equipment, producing samples/prototype, patent/trademark/design/utility model registration).

  • Allowing more fundable items (including costs for setting up new business entity in the Mainland, procuring/leasing additional machinery/equipment for increasing production capacity under the Mainland Programme, etc.).

# Including Mainland China, New Zealand, the four member states of the European Free Trade Association (i.e. Iceland, Liechtenstein, Norway and Switzerland), Chile, Macao, the ten member states of the Association of Southeast Asian Nations (ASEAN), Georgia and Australia.

 

Learn More “Enhanced Mainland Programme”

Learn More “FTA Programme”

 

Important notes to applicants

  • The BUD Fund Implementer (The Implementer) has not appointed or designated any consultancy companies or organizations to provide any fee charging services in relation to the BUD fund (including but not limited to assisting the enterprises to submit applications, formulation of the Holistic Business Plans and implementation of approved projects).
  • The Implementer has not recognized or endorsed the service quality and capability of any consultant/ company which had assisted the funded enterprises to formulate the business plan / implement the funded projects.  Any consultancy companies or organizations claiming to be approved or designated by the Implementer for promoting or soliciting business are misleading and making misrepresentation, the applicants should report the cases to the Implementer for following up and taking appropriate actions.
  • It is the responsibility of an applicant enterprise to complete an application form timely and truthfully and to provide all supporting documents.  Inaccurate and incomplete information may affect the processing of the application.  Any misrepresentation or omission of information may lead to rejection of the application and/or full recovery by The Secretariat of any grant which has been awarded.  It is an offence in law to obtain property/pecuniary advantage by deception or assisting persons to obtain property/pecuniary advantage.  Any person who does so may be liable to legal proceedings.

 

Service Provider (Applicable to "Type (i) Project Application")

The Applicant may employ a Service Provider for preparing the holistic business plan for the application. In order to safeguard the quality of the consulting services provided to the Applicant and the effective use of the Government funding, criteria of the Service Provider employed are set out as follows:

a) having registered in Hong Kong under the Business Registration Ordinance (Chapter 310), or being a statutory organisation in Hong Kong, or being a company with valid business license in the FTA economies (applicable to FTA Programme);

b) having established for at least one year, and

c) having at least one principal possessing five years or more practical experience of providing consultancy services related to branding, upgrading and restructuring and/ or domestic sales for enterprises in Hong Kong or the Mainland/ FTA economies. The principal must be actively engaged in the consultancy study throughout the whole study period, and

d) having completed at least five projects in branding, upgrading and restructuring and/or domestic sales at the time of application

The Service Provider must provide proofing evidences including the enterprise background, working experience of their staff and the reference projects record to Implementer.

The Implementer of the BUD Fund has not appointed any companies or organizations to provide any fee charging services in relation to the dedicated fund (including assisting the enterprises to submit the applications, formulation of the Holistic Business Plans and implementing the approved projects.