Hong Kong Business News

The Professional Services Advancement Support Scheme has opened a new round of applications for funding from non-profit-distributing organisations, running from today until August 31.

Eligible organisations include professional bodies, trade and industrial organisations, and research institutes.

Involving a total allocation of $200 million, the scheme offers subsidies to non-profit-making industry-led projects that increase exchange and co-operation between Hong Kong’s own professional services sector and external counterparts, promote relevant publicity activities, and enhance the sector’s overall standards and competitiveness.

The scheme is open to a wide range of professional service segments, including accounting, legal and dispute resolution, architecture, engineering, healthcare, information and communications technology, and design, as well as technical testing and analysis. Applications are welcome from both sector-specific and cross-sectoral projects.

The maximum grant for each approved project is $3 million, or 90% of the total project cost, whichever is lower.

As of early May, more than 100 projects had been funded, involving project deliverables in Hong Kong and elsewhere.

Meanwhile, the Government has set aside $50 million to launch the Professionals Participation Subsidy Programme under the scheme.

The programme aims to subsidise Hong Kong’s major professional bodies to participate in activities organised by the Government and the Trade Development Council with a view to promoting Hong Kong’s competitive edge and professional services to Mainland cities and overseas markets.

The scheme and the programme both accept applications all year round, with submissions being process on a quarterly basis.

A briefing session will be held this month for organisations interested in applying for funding via the scheme. Contact the secretariat at 3655 5418 or by email for registration or enquiries.

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