Professional services fund opens

The Professional Services Advancement Support Scheme today began inviting a new round of applications from non-profit-distributing organisations until May 31, the Government announced.


These organisations include professional bodies, trade and industrial organisations as well as research institutes.


With a total allocation of $200 million, the scheme aims to subsidise non-profit-making industry-led projects in order to increase exchanges and co-operation between Hong Kong’s professional services and external counterparts, promote relevant publicity activities, and enhance the standards and external competitiveness of such services.


The scheme covers a wide range of professional services, including accounting, legal and dispute resolution, architecture, engineering, healthcare, information and communications technology, design as well as technical testing and analysis. Both sector-specific and cross-sectoral projects are welcome.


The maximum grant for each approved project is $3 million or 90% of the total eligible project cost, whichever is lower.


As at early February, nearly 90 projects had been funded, including project deliverables in and outside Hong Kong.


Meanwhile, the Government has set aside $50 million to launch the Professionals Participation Subsidy Programme under the scheme.


The programme aims to subsidise Hong Kong major professional bodies to participate in activities organised by the Government and the Trade Development Council after the pandemic situation has stabilised, with a view to stepping up the promotion of Hong Kong’s competitive edge and professional services to Mainland cities and overseas markets.


The scheme and the programme both accept applications all year round and they are processed on a quarterly basis.


A briefing session will be held this month for organisations interested in applying for the scheme’s funding. Contact the secretariat at 3655 5418 or by email for registration or enquiries.