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To rationalise funding arrangements for the creative sector and enable resources to be used in a more co-ordinated manner, CreateHK will consolidate the DesignSmart Initiative (DSI) and the CreateSmart Initiative (CSI) with effect from June 1, 2011.
"Under the new arrangement, funding requests for initiatives related to design will be considered under the CSI. The consolidation will help make the funding scheme more user-friendly for applicants," a spokesman for CreateHK said.
The $300 million CSI was launched in 2009 to provide funding for projects conducive to the development of Hong Kong's creative industries. As various funding schemes such as DSI and the Film Development Fund were already functioning, the CSI excluded applications eligible under those pre-existing schemes to avoid overlap. With the drawing down of the DSI, it is logical to consolidate the DSI and CSI funding schemes so that the funding rules for design and other creative-sector-related initiatives can be aligned.
Currently, the DSI consists of a Design Incubation Programme (DIP) and a Design Support Programme that covers four funding schemes - the General Support Scheme (GSS), the Professional Continuing Education Scheme (PCES), the Design Research Scheme (DRS) and the Design-Business Collaboration Scheme (DBCS).
The GSS, PCES and DRS will be migrated to the CSI starting from June 1, while the DBCS will continue to be supported by the residual DSI funding and can be migrated to the CSI upon exhaustion of the residual funding. The DIP may be consolidated into the CSI when its funding earmarked under the DSI lapses in April 2012.
The DSI Assessment Panel will be renamed as the CSI (Design) Assessment Panel and form part of the vetting and control mechanism of the CSI. It will continue to vet design-related funding applications, monitor ongoing projects and evaluate project completion reports.
Having regard to the draw-down rate of the CSI, it is envisaged that, even with the inclusion of design-related projects, the CSI would still be able to cope until around mid-2013. The Government will keep in view the utilisation of CSI funding and seek replenishment as and when necessary, in accordance with established procedures.
For details of the new arrangements for the CSI and the DSI, please call the CSI Secretariat at 2294 2774 or DSI Secretariat at 2737 2635.
Ends/Friday, May 20, 2011
Issued at HKT 15:02
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