Government launches Pilot Manufacturing and Production Line Upgrade Support Scheme and enhances existing New Industrialisation Acceleration Scheme
The Innovation and Technology Commission (ITC) today (November 18) launched the Pilot Manufacturing and Production Line Upgrade Support Scheme (Manufacturing+) under the New Industrialisation Support Scheme of the Innovation and Technology Fund (ITF) and enhanced the existing New Industrialisation Acceleration Scheme (NIAS) to further drive the development of new industrialisation in Hong Kong.
"By launching Manufacturing+ and enhancing the existing NIAS, the Government aims to promote new industrialisation and foster diversified economic development. Announced in this year's Budget, Manufacturing+ seeks to encourage local manufacturing enterprises, particularly small and medium-sized enterprises with no prior experience in smart production investment, to adopt smart production technologies and upgrade their production lines, thereby driving the development of new quality productive forces. As well, the Chief Executive announced in this year's Policy Address that the application threshold for the NIAS will be relaxed and funding would be provided on a matching basis for enterprises to employ relevant technical personnel. This will help attract more enterprises engaging in strategic industries to set up new smart production facilities in Hong Kong, driving high value-added advanced manufacturing," a spokesman for the Commission said.
The spokesperson continued, "The Government will proactively leverage innovation and technology to drive high value‑added manufacturing, promote new industrialisation, and remain committed to providing timely and appropriate support to relevant enterprises."
Under Manufacturing+, the Government will provide funding of up to $250,000 per eligible enterprise on a 1 (Government): 2 (enterprise) matching basis to enterprises operating production lines in Hong Kong to assist them to formulate smart production strategies and introduce advanced technologies into existing production lines. The funding scope covers relevant consultancy fees, costs for purchasing equipment and integrating smart technologies into existing production lines, as well as training and development expenses. To ensure effective use of resources, Manufacturing+ will be overseen by the Committee on Technology Adoption and Production Line Upgrade, with the Hong Kong Productivity Council serving as its Secretariat.
In addition, the application threshold for the NIAS will also be relaxed, with the minimum total project cost lowered from $300 million to $150 million. Enterprises shall contribute no less than $100 million while the matching ratio of 1(Government) to 2 (enterprise) remains unchanged. Moreover, the ITC will also provide funding on a 1(Government) to 1 (enterprise) basis for companies approved under the NIAS to employ up to 10 technical personnel required for setting up or operating smart production facilities.
Manufacturing+ and the NIAS accept applications year-round. Details are available on the Innovation and Technology Fund website (www.itf.gov.hk). For enquiries, please contact the Secretariat of the schemes (Tel: 35435904; email:enquiry@itf.gov.hk).
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