ITC R&D Funding
Qualification of ESS
IDEA dominate
To apply Enterprise Support Scheme (ESS) R&D funding under Innovation and Technology Commission (ITC),
First thing first, you have to have an innovative idea which needed to be researched and developed.
That idea is the number 1 crucial vetting criteria of all. But how to determine your idea is innovative enough?
Or in what terms, your idea could be valid to ITC R&D Funding as an innovative idea? Scroll down to find it out.
There are still tons of other criteria, nonetheless, the below 3 areas are most critical for ESS Fund.
Concept
Let's say your are Steve Jobs, you have announced iPhone 1, and now you are going to develop iPhone 2 with some new features, if such features (= ideas) can solve a real problem in the reality. And the Intellectual property of such features are not owned by others in Hong Kong and targeted market, your idea is half way to be success.
Yes, if you want to develop iPhone 3, iPhone 4,
as long as there are new features in the product of service which meet the requirement mentioned above in the product or service, you can apply the fund again and again.
Of course it is totally ok to develop a revolutionary product like iPhone 1 stunted the world.
Team Member
The background of your team member matters.
The salary of Team members often occupy 60-70% of the entire subsidy.
You can apply with your existing or to be recruit team members. The academic background of the team member needed to meet some requirements.
Also, the project coordinator has to have the capability to manage the team as well as the project.
Business Network
The business model and existing network is crucial for this R&D funding as well.
Is there a stable upstream support when the project reaches mass production?
Also, whether there is sufficient downstream strength to thrive the project in the market place is one of the priorities of vetting.
Want to check either you are eligible and how to prepare ITC R&D funding?
We have a free initial assessment service to assess and how to deploy your project progress, man power resources, business network and financial readiness.
To protect the confidentiality of your project and your company, we will sign a Non-disclosure agreement with you.
The entire assessment service is free of charge. Other than the NDA, there will not be any agreement needed to commit.
Who are eligible to apply ITC ESS funding?
A company will be eligible to apply if it is:
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incorporated in Hong Kong under the Companies Ordinance;
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registered in Hong Kong under the Business Registration Ordinance;
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not a government subvented organisation*; and
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not a subsidiary of any government subvented organisation*.
*A government subvented organisation means organisation that receives grant from the government on a recurrent basis.