Press Release

SME Development Fund accepting applications all year round

Monday, December 5, 2005

The SME Development Fund (SDF) administered by the Trade and Industry Department (TID) will be accepting applications all year round starting January 1, 2006.

"We welcome non-profit-distributing support organisations, trade and industrial organisations, professional bodies and research institutes to come up with funding proposals to help enhance the competitiveness of SMEs in general or in specific sectors," a spokesman for the TID said.

The maximum amount of funding for an approved SDF project is $2 million, or 90% of the total project expenditure, whichever is less. The applicant will have to contribute the remaining amount, which may be in cash, in kind, or in the form of third-party sponsorship.

Each applicant may submit up to two applications in a quarter under the new arrangement, which translates to a total of eight applications per year.

Applications received will be considered by the SDF Vetting Committee, which will assess the applications on a quarterly basis. Applications received from January to March will be assessed in one batch; those received from April to June will be assessed in another and so forth. The SDF Vetting Committee, chaired by the Director-General of Trade and Industry, comprises industrialists, businessmen, SME entrepreneurs, professionals, academics, and members of the SME Committee.

Application forms and the "SDF Guide to Application" are available at the SDF Secretariat, 4/F, Trade and Industry Department Tower, 700 Nathan Road, Mongkok, Kowloon. They can also be downloaded from the homepage of the SME Funding Schemes (www.smefund.tid.gov.hk). A list of the previously approved SDF projects can also be accessed from the website.

For enquiries, please contact the SDF Secretariat by phone at 2398 5128 or via e-mail at sdf_enquiry@tid.gov.hk.

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