Hong Kong Startups and SMEs Funding
- Innovation and Technology Funding (ITF)
This scheme is rolled out to companies who adopt technologies and to companies with unique innovations. It avails them the funding for research and options for partnering with other companies.
- SME Export Marketing Fund
This funding is both for startups and SMEs in Hong Kong. It is rolled out to encourage these business owners to expand their businesses beyond the Hong Kong borders. Each successful business gets a total of HK$400,000 funding and there is no limit to the number of times you get to apply. This fund helps startups to do advertising related activities. This grant covers international trade exhibition costs, printing costs, Google, and YouTube advertisement costs among benefits.
Grants are allocated to businesses that bring about social impact in terms of poverty eradication and campaign against social injustices. Grants are extremely competitive as they do not require any application fee and the requirements are not stringent. Therefore, to qualify for a grant allocation as a new startup, you must ensure you are always on the lookout for such opportunities. You also need to ensure that you meet all the eligibility requirements for the category that you are applying for and that where applicable you send out as many applications as possible.
If you are a young person wondering what business to start and you have no capital, it would be more advantageous for you to focus on innovations that bring about social impact, technological adoption, and technological advancement.