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Last updated at: (Beijing Time) Monday, September 01, 2003

HK SME Development Fund Invites Applications

The Hong Kong Trade and IndustryDepartment (TID) will start to invite applications for the third round of the SME (small- and medium-sized enterprises) Development Fund (SDF) on Monday.


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The Hong Kong Trade and IndustryDepartment (TID) will start to invite applications for the third round of the SME (small- and medium-sized enterprises) Development Fund (SDF) on Monday.

The deadline for applications is Oct. 31, 2003.

"We welcome non-profit-distributing support organizations, trade and industrial organizations, professional bodies and research institutes to come up with funding proposals to help enhance the competitiveness of SMEs in general or in specific sectors," a spokesman for the TID said on Sunday.

The proposals can be projects which help SMEs identify the way forward and leverage on new business opportunities; projects whichhelp raise SMEs' awareness on specific know-how, technologies, best practices and skills; projects which help SMEs build capabilities on IT, human resources, financial management, marketing and brand-building; and indeed any initiatives which areof practical benefits for SMEs, said the spokesman.

"In particular, the Department would like to invite proposals which can help SMEs capitalize on the new business opportunities and challenges arising from the Closer Economic Partnership Arrangement (CEPA). We believe that trade and industrial organizations and industry support organizations have a pivotal role to play in helping SMEs equip themselves for CEPA," he said.

The maximum amount of funding for an approved SDF project is 2 million Hong Kong dollars (256,000 US dollars), or 90 percent of the total project expenditure, whichever is less. The applicant will have to contribute the remaining amount, which may be in cash,in kind or in the form of third party sponsorship.


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