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The funding supports smart upgrades and lowers entry barriers for SMEs
The Innovation & Technology Commission (ITC) unveiled new funding support to accelerate industrial upgrading, introducing the Pilot Manufacturing & Production Line Upgrade Support Scheme (Manufacturing+) and easing requirements under the New Industrialisation Acceleration Scheme (NIAS).
Manufacturing+ will provide up to $250,000 per eligible enterprise on a 1:2 Government‑to‑enterprise matching basis. The scheme targets companies operating production lines in Hong Kong, with funding available for consultancy, equipment purchases, smart technology integration and training.
For NIAS, the minimum project cost has been reduced from $300m to $150m, with enterprises required to contribute at least $100m. Approved companies will also receive 1:1 Government funding to employ up to 10 technical staff for smart production facilities.
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