Sun Dong: The government is researching improvements to the "Digital Transformation Support Pilot Program," which is expected to require an additional allocation of HKD 300 million, with consultations to the Legislative Council in the second half of the year

The Secretary for Innovation, Technology and Industry, Sun Dong, stated today (25th) at a Legislative Council meeting that since the launch of the "Digital Transformation Support Pilot Scheme" at the beginning of 2024, there has been a strong response. To date, funding has been granted to 8,799 local SMEs, involving the retail sector (55%), catering industry (34%), personal services (11%), and tourism (0.8%), with the average approved funding amounting to approximately HKD 49,000.

On the other hand, the Innovation and Technology Commission (ITC) launched the "Technology Voucher" in November 2016, with a total of 38,440 applications approved. The average funding amount for each approved application is approximately HKD 175,800, benefiting 35,805 enterprises/institutions. The industries primarily involved in the approved projects include wholesale and retail (36%), restaurants and hotels (8%), engineering (7%), personal care services (6%), and import and export trade (5%), among others.

He indicated that the government is currently researching the optimization of the pilot scheme. In addition to plans to incorporate artificial intelligence and cybersecurity digital solutions, it will also determine the funding model, scope, amount, and implementation details for the new round of the scheme based on the latest transformation needs of SMEs, market product supply and prices, public financial conditions, operational experience, and other factors, with an expected additional allocation of HKD 300 million. The authorities aim to launch the optimized pilot scheme after consulting the Legislative Council in the second half of this year