New Industrialisation Funding Scheme

Objective:

• Subsidise manufacturers to establish new smart production lines in Hong Kong.
• Promote adoption of smart manufacturing technologies.

Target Beneficiaries:

• Companies incorporated in Hong Kong under the Companies Ordinance (Cap. 622).
• All industrial sectors are eligible.
• Production lines can be set up inside or outside industrial estates of Hong Kong Science and Technology Parks Corporation.

Key Features:

• Production line must fulfill "smart manufacturing" criteria, integrating technologies like IoT, real-time data, data analytics, AI/ML, automation, robotics, sensors, etc.
• Funding provided on a 1 (government) : 2 (company) matching basis.
• Maximum funding: one-third of total approved project cost or HK$15 million per project, whichever is lower.
• Each company can apply for up to 3 projects simultaneously, with a total funding cap of HK$45 million.
• Funding covers expenses directly related to establishing the new production line, including:
• machinery procurement, installation and commissioning
• technical consultancy, testing and staff training
• patent registration (up to HK$250,000)
• external audit fees (up to HK$20,000 per audit, max two audits)
• legal fees related to legal charge (up to HK$20,000)
• Project duration typically within 24 months.
• Funded production lines must remain in Hong Kong for 5 years if funding is HK$5 million or above, or 3 years if below HK$5 million, with legal charge registered to enforce this.

Application Process:

• Applications accepted year-round.
• Applicants must register their entity and personnel on the Innovation and Technology Commission Funding Administrative System (ITCFAS).
• Submit application electronically with required documents (Guide and Checklist available on the official website).
• Initial assessment by Innovation and Technology Commission (ITC).
• Funding recommendations reviewed by New Industrialisation Vetting Committee.
• Final approval by Commissioner for Innovation and Technology.

Contact:

• Tel: (852) 3655 5678
• Email: nifs-enquiry@itc.gov.hk

This scheme supports Hong Kong manufacturers in upgrading to smart production, fostering innovation and industrial advancement locally.