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The 12th round of applications for funding from the Professional Services Development Assistance Scheme (PSDAS) starts tomorrow (April 13).
The scheme, launched in February, 2002, with an allocation of $100 million, finances projects aimed at increasing the competitiveness of Hong Kong's professional services on the Mainland and other external markets, and enhancing the standard of the local professional services. Professional, trade, or industrial organisations as well as research institutes are eligible to apply for funding from the PSDAS. Such organisations or institutes must be non-profit-distributing.
Grants are given on a dollar-for-dollar matching basis. The maximum amount of grant for a project is $2 million.
A vetting committee of professionals, business people, academics and a government official will assess applications and monitor approved projects.
In the previous 10 rounds of applications, 132 applications were recommended by the vetting committee and the funding involved was $50.78 million. Projects funded so far include conferences, training programmes, exchange visits and promotional activities, etc. Among the approved projects, 61 projects involving funding of $24.05 million relate to enhancing competitiveness in the Mainland market. Applications received in the 11th round are being processed and the results will be available in mid May, 2006.
Applications are invited three times a year. Urgent projects which cannot be catered for by the normal application cycle will be considered separately by the vetting committee if warranted.
Detailed information about the scheme, a list of the approved projects as well as the application form are available at the PSDAS website www.info.gov.hk/cib/psdas, or can be checked by calling the enquiry hotline 2918 7593.
To facilitate interested organisations in preparing their applications, the Commerce, Industry and Technology Bureau will organise a briefing session on May 16, 2006. Besides, helpdesk service will be available from May 16, 2006 onwards. Interested organisations may call the enquiry hotline for details or registration.
All applications for this round should reach the Commerce, Industry and Technology Bureau on or before June 15, 2006.
Ends/Wednesday, April 12, 2006
Issued at HKT 14:01
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