New Round of Enhancements to BUD Fund
Date:
2020-01-14
New Round of Enhancements to BUD Fund A new round of enhancement measures to the BUD fund will be implemented on 20 January 2020.
- The enhancement measures included: Extending the geographical coverage of the BUD Fund to all economies with which Hong Kong has signed Free Trade Agreements.
- Increasing the cumulative funding ceiling per enterprise to $4 million, including $2 million for projects in the Mainland and $2 million for projects in ASEAN and other FTA markets.
- Increasing the ratio of initial payment from 25% to up to 75% of the total approved government funding.
- Removing the requirements for the grantee to open and maintain a separate interest-bearing bank account and to deposit into the account the required amount of matching funds before receiving the initial payment.
- All projects, including those opting for initial payment, can commence upon submission of applications.
- Relaxing the budget cap of individual expenditure items (including procuring/leasing of additional machinery/equipment, producing samples/prototype, patent/trademark/design/utility model registration).
- Allowing more fundable items (including costs for setting up new business entity in the Mainland, procuring/leasing additional machinery/equipment for increasing production capacity under the Mainland Programme, etc.).
For the details of BUD fund, please refer to official web site: www.bud.hkpc.org
