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The 11th round of applications for funding from the Professional Services Development Assistance Scheme (PSDAS) starts tomorrow (December 15).
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, comprising professionals, business people, academics and a government official, will assess applications and monitor approved projects.
In the previous nine rounds of applications, a total of 124 applications were recommended by the vetting committee and the funding involved was $47.3 million. Projects funded so far include conferences, training programmes, exchange visits and promotional activities. Among the approved projects, 55 involving funding of $21 million relate to enhancing competitiveness in the Mainland market. Applications received in the 10th round are being processed and the results will be available early next month.
Applications are invited three times a year. Urgent projects that cannot be catered for by the normal application cycle will be considered separately by the vetting committee if so warranted.
Detailed information about the scheme, a list of the approved projects and the application form are available at the PSDAS website, www.info.gov.hk/cib/psdas, or can be obtained by calling the enquiry hotline 2918 7593.
To help interested organisations prepare their applications, the Commerce, Industry and Technology Bureau will hold a briefing session on January 17, 2006. A helpdesk service will also be available from January 17. Interested organisations can call the enquiry hotline for details or registration.
All applications for this round should reach the Commerce, Industry and Technology Bureau by February 15, 2006.
Ends/Wednesday, December 14, 2005
Issued at HKT 14:01
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