Press Release

The SME Development Fund invites applications

Friday, September 15, 2006

The Trade and Industry Department is inviting applications for the SME Development Fund (SDF) for the third quarter of 2006.

A department spokesman said that small and medium enterprises (SMEs) were the backbone of the Hong Kong economy and the Government attached great importance to them. "To enhance the competitiveness of Hong Kong's SMEs in general or in specific sectors, we welcome non-profit-distributing support organisations, trade and industrial organisations, professional bodies and research institutes to submit relevant funding proposals," he said. 

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

The SDF was launched in December 2001, and further revised in 2003 and 2005. It is open to applications all year round. Each applicant is allowed to submit at most two applications in each quarter. 

Applications received will be considered by the SDF Vetting Committee on a quarterly basis. 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. The Government has so far granted more than $100 million funding to 89 projects covering all sectors of the SMEs. 

Application form and the "SDF Guide to Application" are available at the SDF Secretariat, 4/F, Trade and Industry Department Tower, 700 Nathan Road, Mong Kok, 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 be accessed from the website.

For enquiries, please contact the SDF Secretariat on 2398 5128 or via e-mail < sdf_enquiry@tid.gov.hk>.

Ends