With the sudden end of Hong Kong’s Technology Voucher Programme (TVP) on December 31, 2024, many businesses are now searching for new funding options to support their digital and operational improvements.

The TVP grant had been instrumental in helping small and medium enterprises (SMEs) adopt technology to stay competitive. While this closure marks a shift, several alternative grants are still available to assist businesses in digital transformation, market expansion, and e-commerce.

Here’s a breakdown of the most viable funding options as of early 2025.

Digital Transformation Support Pilot Programme (DTSPP)

Designed for SMEs in the retail, food and beverage (F&B), tourism, and personal services industries, the DTSPP supports the adoption of ready-to-use digital solutions such as digital payments, CRM tools, and online marketing platforms. Originally focused on F&B businesses, the programme expanded in mid-2024 to include more sectors.

To ensure quality and reliability, businesses must use pre-approved solution providers, available at DTSPP Cyberport.

Key programme features:

Funding support: Up to 50 per cent of project costs
Maximum grant: HK$50,000 (US$6,423) per business
Eligible projects: Digital payments, CRM systems, and online marketing
Who can apply: SMEs registered and operating in Hong Kong
More info: DTSPP Official Website

Branding, Upgrading & Domestic Sales (BUD) Fund

The BUD Fund supports businesses looking to expand into international markets by funding branding, business development, and digital sales initiatives. Many companies leverage this grant to develop e-commerce platforms, mobile apps, and localised websites that enhance their overseas presence.

Key programme features:

Funding support: Up to 50 per cent of project costs
Maximum grant: HK$7 million (US$899,000)per enterprise
Eligible projects: Market expansion, digital branding, and website/app development
Who can apply: Hong Kong-based SMEs with post-revenue status
Application portal: BUD Fund

Easy BUD

A streamlined version of the BUD Fund, Easy BUD simplifies the application process for businesses looking to expand their online presence and sales. This grant focuses on digital marketing, cross-border e-commerce, and mobile app development.

Key programme features:

Funding support: Covers 50 per cent of project costs
Maximum grant: HK$1 million (US$128,400) per business
Eligible projects: Digital marketing, website and mobile app development for international markets
Who can apply: SMEs in Hong Kong with existing revenue streams

Also Read: From Seed to Series: Navigating different funding rounds with PR

E-commerce Easy BUD

Tailored for businesses targeting China’s booming e-commerce sector, E-commerce Easy BUD supports digital marketing, website integration, and mobile apps for cross-border sales. Companies can use this funding to establish a presence on leading platforms such as Xiaohongshu (Little Red Book), Douyin (TikTok China), and Taobao.

Key programme features:

Funding support: 50 per cent of project costs
Maximum grant: HK$1 million (US$128,400) per enterprise
Eligible projects: Online sales platforms, mobile apps, and e-commerce marketing
Who can apply: Hong Kong-registered SMEs targeting China’s digital market

SME Export Marketing Fund (EMF)

The SME Export Marketing Fund (EMF) assists businesses in expanding their presence in international markets through trade fairs, digital marketing, and promotional activities.

Key programme features:

Funding support: 50 per cent of eligible expenses covered
Grant limits: Up to HK$100,000 (US$12,840.86) per application, with a lifetime cap of HK$1 million (US$128,400) per business
Eligible projects: Overseas advertising, trade shows, and online marketing campaigns
Who can apply: SMEs registered and operating in Hong Kong
Application details: EMF Grant Portal

Conclusion

While the closure of the TVP Grant marks a significant shift, several alternative funding options remain available for businesses in Hong Kong. Whether you’re focused on digital transformation, expanding into new markets, or boosting e-commerce sales, these grants provide valuable support to drive growth and innovation.

—

Editor’s note: e27 aims to foster thought leadership by publishing views from the community. Share your opinion by submitting an article, video, podcast, or infographic.

Join us on Instagram, Facebook, X, and LinkedIn to stay connected.

Image credit: Canva Pro

The post Exploring alternative funding options after the TVP grant’s closure appeared first on e27.