Innovation and Technology Fund for Better Living (FBL)

The Innovation and Technology Fund for Better Living (“FBL”) is a scheme for funding innovation and technology projects which will make people’s daily living more convenient, comfortable and safer, or address the needs of specific community groups. The FBL with a funding size of HK$500 million is expected to operate for 5 years with effect from 2017-18.

Themes & requirements:	Projects should be able to benefit the public at large or specific groups, and should be in line with government policies. Projects should involve the innovative application of technologies. Project themes includes daily living, education, environment, health, safety, transport, etc. which can benefit the community. Project deliverables can be in form of mobile apps, products, devices, equipment, tools, services, software, or any other forms with valid justifications. Projects should not be profit-making during the funding period. Projects should primarily be developed within Hong Kong.
Funding support:	The maximum amount of each grant is 90% of the total eligible project cost, or HK$5 million, whichever is the lower. The balance of the project cost (10%) should be met through income derived from the project, funding from other sources or self-financing (e.g. sales proceeds, third party sponsorship, funding from parent organization, etc.) which may be in cash or in-kind.
Max. project duration:	The development of the project should be completed within 12 months and the project should run for at least 2 consecutive years, except for project which is one-off in nature.
Application schedule:	Open for application all year round, subject to the availability of fund under the FBL.

Submission of Application
Applications should be submitted either:

• electronically through the ASITB-FBL [under construction and to be rolled out shortly] , or
• with a softcopy of the application (in MS Word format) to RO by email: rose@cityu.edu.hk

Please also send the completed endorsement form to RO via Head and Dean.

• Internal Circular
• Application Guide & Concise Guide
• Frequently Asked Questions (FAQs)
• FBL Assessment Panel

Application documentation:

• Application Form
• Institutional Endorsement Form

Please include the following budget items in each application:

1. External audit fees: $10,000/year for a project costing less than $1 million, or $25,000/year for a project costing between $1 million and $5 million, and
2. Administrative overhead: 15% x Total [Manpower + Equipment + Other Direct Costs]

Relevant link:
FBL website: http://www.itb.gov.hk/en/fbl/