The Dedicated Fund on Branding, Upgrading and Domestic Sales (BUD) provides funding support to assist Hong Kong enterprises and organisations to enhance their competitiveness in the Mainland market through developing brands, upgrading and restructuring operations, and promoting domestic sales in the Mainland.
There are two programmes under BUD:
The programme supports projects initiated by any non-listed Hong Kong enterprises with substantive business operations in the territory.
The funding will be provided on a matching basis where the Government will cover a maximum of 50% of the total approved project cost and the enterprise has to contribute no less than 50% of the total project cost. Each enterprise may obtain BUD funding for 3 projects at most and the funding amount per enterprise is capped at HK$500,000.
Applicants should submit a holistic business plan, together with the completed application form by a specific cut-off time at each round of application which will be announced on the programme website. The Applicant may employ a Service Provider to prepare the holistic business plan. Vetting of Application will be arranged once every 2-3 months.
The Hong Kong Productivity Council acts as the Secretariat to assist in implementing the Programme and they will conduct an initial assessment of all applications. An Inter-departmental Committee (IDC) will then assess all applications. The final funding recommendations will be made by the Programme Management Committee (PMC).
Each project should be completed within 24 months. Enterprises are required to submit progress report(s) and or a final report.
As at end of May 2013, there are 54 projects approved and half of them are granted with the maximum funding amount of HK$500,000.
Organisation Support Programme
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The programme, implemented by the Trade and Industry Department, provides funding support for non-profit-distributing organisations.
The maximum funding amount for each project is HK$5 million, or 90% of the project expenditure, whichever is the less. The Applicant has to contribute the remaining 10% of the project expenditure, which may be in cash, in kind or in the form of sponsorship. The maximum duration of a project will be 3 years.
Subject to the funding balance, applications will be open until 2017 and applications are accepted all year round. Applicants shall submit their application to the Trade and Industry Department. Implementation agent(s) and collaborating organisations could be engaged for a project.
Applications will be considered by a Vetting Committee which will usually meet in March, June, September and December each year.
Organisations are required to submitted progress reports and final report for their projects.
There are 21 projects approved since the launch of the programme in 2012 and the lowest funding amount approved is HK$0.9 million and the highest is HK$5 million.
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