Government opens professional services funding for non-profit organisations

This enables NPO projects aimed at fostering collaboration between Hong Kong's professional services sector and external counterparts. 

The Professional Services Advancement Support Scheme has initiated a new funding application round for non-profit organisations (NPO), running from today until 30 November. Entities such as professional bodies, trade and industrial groups, and research institutes are eligible for the scheme. 

This scheme, with a total allocation of $200m, provides subsidies to non-profit industry-led projects aimed at fostering collaboration between Hong Kong's professional services sector and external counterparts. 

It also supports promotional activities and elevates the overall standards and competitiveness of the sector.

The scheme welcomes applications from various professional service segments, including accounting, legal, dispute resolution, architecture, engineering, healthcare, information and communications technology, design, technical testing, and analysis. It is open to both sector-specific and cross-sectoral projects.

Each approved project can receive a maximum grant of $3m or 90% of the total project cost, whichever is lower. 

ALSO READ: Government shields Hong Kong’s local MNEs from EU’s tax defensive measures

As of early August, nearly 100 projects had already received funding, contributing to project outcomes in Hong Kong and beyond. In addition, the government has allocated $50m for the Professionals Participation Subsidy Programme under the scheme. 

This program aims to subsidise major professional bodies in Hong Kong for their participation in events organized by the government and the Hong Kong Trade Development Council, with the goal of promoting Hong Kong's competitive edge and professional services to Mainland cities and overseas markets.

Both the scheme and the program accept applications throughout the year, with submissions processed quarterly. Organizations interested in applying for funding through the scheme can attend a briefing session this month.