In an era where technology drives business growth, digital transformation has become a must for companies looking to stay competitive and future-proof their operations. From automating workflows to enhancing customer experiences, embracing digital innovation is no longer optional—it’s essential. However, embarking on a digital transformation journey can be costly, especially for small and medium-sized enterprises (SMEs).
The good news? The Hong Kong government offers a range of funding options to help businesses offset the costs of digital transformation. Whether you’re looking to implement cutting-edge technologies, expand into new markets, or enhance operational efficiency, these grants provide the financial support you need to make it happen.
In this guide, we’ll explore the top government grants in Hong Kong for digital transformation, including the BUD Fund, Technology Voucher Programme (TVP), and Enterprise Support Scheme (ESS). Plus, we’ll share tips on how to maximize these grants to accelerate your digital transformation goals.
Why Digital Transformation Funding Matters
Digital transformation often requires significant investment in technology, training, and system integration. For many businesses, especially SMEs, the upfront costs can be a barrier.
Government grants play a crucial role in bridging this gap by:
- Reducing financial risk for businesses adopting new technologies.
- Encouraging innovation by making advanced tools more accessible.
- Leveling the playing field for smaller enterprises to compete with larger corporations.
- Supporting long-term growth, enabling businesses to scale efficiently.
Hong Kong’s government recognizes the importance of digital transformation in driving economic growth and has introduced several funding schemes to support businesses on this journey.
1. BUD Fund Hong Kong (Dedicated Fund on Branding, Upgrading, and Domestic Sales)
The BUD Fund is a popular funding option for Hong Kong businesses looking to expand their footprint locally or in overseas markets. It is designed to support projects focused on branding, upgrading, and domestic sales.
Key Details:
- Funding Amount: Up to HKD 7 million per enterprise (on a 2:1 matching basis).
- Eligible Projects: Digital transformation initiatives, such as developing e-commerce platforms, implementing ERP systems, and enhancing supply chain management.
- Eligibility: Businesses must be registered in Hong Kong with substantive operations.
How to Leverage the BUD Fund for Digital Transformation:
- Invest in digital marketing strategies to target new markets.
- Upgrade internal systems for better operational efficiency.
- Develop multi-language e-commerce platforms to expand internationally.
Learn more about the BUD Fund on our blog, Digital Grants in Hong Kong.
2. Technology Voucher Programme (TVP)
The Technology Voucher Programme (TVP) is specifically designed to help Hong Kong companies adopt technological solutions that enhance productivity and operational efficiency. Since its launch, it has been one of the most widely used grants for digital transformation.
Key Details:
- Funding Amount: Up to HKD 600,000 per enterprise (on a 3:1 matching basis).
- Eligible Projects: Adopting or upgrading IT systems and technological solutions, including:
- Customer Relationship Management (CRM) systems.
- Inventory management software.
- Cloud computing platforms.
- E-commerce solutions.
- Eligibility: Businesses must be registered in Hong Kong and in operation for at least one year.
How to Maximize TVP Funding:
- Automate repetitive tasks with low-code platforms to save time and resources.
- Implement AI-powered tools for data analysis and decision-making.
- Upgrade your cybersecurity infrastructure to protect sensitive data.
For a step-by-step guide on how to apply for TVP funding, check out our post, The Best Hong Kong Grant Options for a Digital Transformation in 2025.
3. Enterprise Support Scheme (ESS)
The Enterprise Support Scheme (ESS) focuses on promoting innovation and technology development. If your digital transformation plans involve advanced research and development (R&D), this grant is an excellent option.
Key Details:
- Funding Amount: Up to HKD 10 million (on a dollar-for-dollar matching basis).
- Eligible Projects: Innovative R&D projects that involve technology development or the integration of digital tools into existing operations.
- Eligibility: All Hong Kong-registered businesses with meaningful R&D activities.
How to Use ESS for Digital Transformation:
- Develop proprietary technologies tailored to your business needs.
- Conduct R&D to explore emerging technologies like AI, blockchain, or IoT.
- Enhance your systems with custom-built solutions that give your business a competitive edge.
4. Reindustrialisation and Technology Training Programme (RTTP)
While the RTTP primarily focuses on employee training, it’s a critical part of digital transformation. After all, technology is only as effective as the people using it.
Key Details:
- Funding Amount: Covers up to two-thirds of the training cost.
- Eligible Projects: Training programs in advanced technologies, such as:
- AI and machine learning.
- Data analytics and visualization.
- Cybersecurity tools and best practices.
- Eligibility: Companies must be registered in Hong Kong.
Maximize RTTP Benefits:
- Train your employees to use newly adopted technologies.
- Upskill your team in areas like digital marketing, data analysis, or software development.
Tips for Securing Digital Transformation Funding
To maximize your chances of securing government grants, follow these tips:
- Define Clear Objectives: Clearly outline what you want to achieve with your digital transformation project.
- Prepare a Detailed Proposal: Include a comprehensive project plan, timeline, and expected outcomes in your application.
- Seek Expert Guidance: Partner with experts like RMD HK to navigate the application process and implement solutions effectively.
- Leverage Multiple Grants: Depending on your needs, you may be eligible for more than one grant. For example, you could combine TVP funding for IT system upgrades with RTTP for employee training.
- Track Progress: Regularly evaluate the progress of your project to ensure it aligns with grant requirements.
How RMD HK Can Help
At RMD HK, we specialize in helping businesses unlock the full potential of government grants for digital transformation. Our expertise includes:
- Grant Application Support: Ensuring your application meets all eligibility criteria and stands out.
- Custom Solutions: Developing tailored digital transformation strategies using low-code and high-code technologies.
- Implementation and Training: Guiding your team through the digital transformation process to maximize ROI.
Whether you’re an SME or a large enterprise, we’re here to help you navigate the complexities of digital transformation funding and build a smarter, more connected future.
Final Thoughts
Digital transformation is a journey, not a destination—and having the right funding can make all the difference. With options like the BUD Fund, TVP, and ESS, Hong Kong businesses have ample opportunities to innovate, scale, and thrive.
