New round of enhancements to the Dedicated Fund on Branding, Upgrading and Domestic Sales and the SME Export Marketing Fund launched on 20 January 2020The Trade and Industry Department has released a new round of enhancement measures to the Dedicated Fund on Branding, Upgrading and Domestic Sales (BUD) and the SME Export Marketing Fund (EMF), and started to receive applications from 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)1.
- Increasing the maximum funding ceiling per enterprise to $4 million, including $2 million for projects in the Mainland and $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.).
- Increasing the cumulative funding ceiling per SME to $800,000.
- Enterprises may apply for initial payment for their planned export promotion activities for up to 75% of the total approved government funding.
The updated application guides and application forms of the BUD Fund and the EMF are avilable at BUD website and EMF website.
For enquiries, please contact the following:
- EMF hotline at 2398 5127 or email at firstname.lastname@example.org
- BUD Fund hotline at 2788 6088 or email at email@example.com
Industries Support Division
Trade and Industry Department
20 January 2020