the Innovation and Technology Commission (ITC) has relaxed the restriction pertaining to related entities for the Technology Voucher Programme (TVP). Related entities, defined as enterprises/ organisations set up as different legal entities but having the same individual(s) holding 30% or more ownership in each of the enterprises/organisations, are no longer treated as one single entity for the purpose of calculating the cumulative funding amount under the TVP. Besides, the ITC has also published lists of technology service providers and audit service providers selected in approved TVP applications on the ITF website for reference by interested applicants in preparing their applications.
And we are honored to be on the list too!
To facilitate the early adoption of the relevant technological services or solutions by applicants, with effect from today, the ITC will relax the requirement for Technology Voucher Programme (TVP) applicants to obtain approval from the ITC before commencement of the projects. All applicants can start their projects on the day following the submission of the application at the earliest. An applicant who commences its project while the application is under processing must submit a duly completed "Declaration and Undertaking" to the ITC no later than five working days after the actual commencement date of the project. Applicants should also note that they will have to bear the full costs of their projects themselves if their applications are subsequently not approved.