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.
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.
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: email@example.com
Please also send the completed endorsement form to RO via Head and Dean.
Please include the following budget items in each application:
- 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
- Administrative overhead: 15% x Total [Manpower + Equipment + Other Direct Costs]
FBL website: http://www.itb.gov.hk/en/fbl/