Hong Kong Combines Innovation & Technology Funding Programs
Hong Kong’s Innovation and Technology Commission (ITC) has decided to bring together several funding programmes under the Innovation and Technology Fund (ITF) from August 1 2025. This will make it easier for businesses to get support and grow with innovation and industrial ideas.
Which Programmes Are Covered
The schemes include the New Industrialisation Funding Scheme, the New Industrialisation & Technology Training Programme, and the new Manufacturing+ initiative. Now, they are all part of a single programme called the New Industrialisation Support Scheme. This change will make it simpler for companies to apply. Remember, the rules are the same as before.
The ITC has also merged the Research & Development Cash Rebate Scheme with the Innovation and Technology Support Programme (ITSP). Companies and local research institutes can still work together on research and development projects under the new scheme.
The Patent Application Grant (PAG), which helped cover patent registration costs, has now been added to the existing funding schemes. The ITC says PAG has already helped encourage companies and universities to develop new patents in Hong Kong.
Conclusion
The consolidation of these programmes is meant to help companies innovate and improve manufacturing. And by combining resources, businesses can get better and more focused support. If you need help understanding the several schemes, you can contact 3E Accounting Hong Kong for our business consultancy services.
