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The Innovation and Technology Commission announced today (April 28) the launch of the Enterprise Support Scheme (ESS) to replace the Small Entrepreneur Research Assistance Programme (SERAP).
The ESS aims to encourage more private sector investment in research and development (R&D) activities, thus creating more job opportunities of a diversified nature for innovation and technology (I&T) personnel in Hong Kong, and help foster further development of Hong Kong's I&T sector.
The new scheme will provide funding to companies of all sizes to support their R&D projects. Funding of up to $10 million for each approved project will be provided on a dollar-for-dollar matching basis, and the applicant company will own the intellectual property of the project. In contrast with SERAP, there will be no requirement for recoupment of the Government's contribution.
Applications for the ESS are open all year round. Details of the ESS are available on the Innovation and Technology Fund website at www.itf.gov.hk.
Ends/Tuesday, April 28, 2015
Issued at HKT 12:00
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