More Distance Business Funding Set

The Innovation & Technology Commission today announced an additional provision of $1 billion under the Anti-epidemic Fund for the Distance Business Programme.

The programme, which opened for applications on May 18, supports enterprises to adopt information technology solutions to continue business and services during the epidemic.

As of June 24, the programme received more than 14,500 funding applications from enterprises, the commission said. Of the 1,194 applications processed so far, 1,094 have been approved with total funding of more than $44 million.

Because of the overwhelming response, the Government will allocate $1 billion for the programme, in addition to the original $500 million, to benefit more enterprises, it added.

The vetting criteria of the programme include relevance of the proposed project to the applicant’s business, reasonableness of the budget and its conformity to economic principles, complexity and feasibility of the implementation details along with the technical capability and experience of the service provider.

The programme’s current application deadline is October 31. In view of the present situation, the programme may need to cease accepting applications earlier, taking into account the progress of funding approval and the amount approved.

Such an arrangement would be announced about two weeks beforehand.

Enterprises wishing to apply for the programme’s funding should submit applications online as soon as possible.

Click here for the programme’s website.

For enquiries, call 2788 5070 or send an email.