BUD Dedicated Fund
BUD Dedicated Fund
BUD Fund doubled to HKD 2 million in 2020
To help Hong Kong enterprises capture the opportunities, the Hong Kong SAR Government set up a “Dedicated Fund on Branding, Upgrading and Domestics Sales” (the BUD Fund) of $1 billion in June 2012. To help SMEs, including start-ups, grasp economic opportunities and boost their competitiveness, the 2018-19 Budget proposed to extend the geographical scope of the BUD Fund to include the Association of Southeast Asian Nations (ASEAN) markets by launching the “ASEAN Programme”, and to increase the cumulative funding ceiling per enterprise for projects involving the Mainland China Market (the “Mainland Programme”). The Finance Committee of the Legislative Council approved the enhancement proposal and funding injection of $1.5 billion in June 2018.
From 20th January, 2020, all succesful application will benefit the followings
- The maximum fund of Mainland Programme doubled to HKD 2 million
- The ASEAN Programme will be extended to all Free Trade Agreement regions (enhanced to FTA Programme)
The maximum fund of FTA Programme doubled to HKD 2 million
- Initial fund increases from 25% to at most 75%
- No individual bank nor capital required for accepting government’s initial fund
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BUD Enterprise Support Programme
Funding will be provided on a matching basis, i.e. the Government will cover a maximum of 50% of the total approved project cost and the enterprise has to contribute no less than 50% of the total project cost in cash. During the tenure of the BUD Fund, each enterprise may obtain funding for a maximum of ten approved projects and $1,000,000 each for the “Mainland Programme” and the “ASEAN Programme”. An enterprise can get a total fund of $ 2 million. From 20th January, 2020, each programme allows up to 20 projects and grants $ 2 million.
BUD Fund useful link
BUD Application Guide (https://www.bud.hkpc.org/sites/default/files/download/application-guide-en.pdf)