Small Entrepreneur Research Assistance Programme (SERAP)

(For details, please refer to the Leaflet of Small Entrepreneur Research Assistance Programme (PDF Format) and Guide to the Innovation and Technology Fund Volume IV - Small Entrepreneur Research Assistance Programme (November 2011) (PDF Format).)

What is SERAP?

  • SERAP is a technology entrepreneurship programme which provides pre-venture capital stage financing to support technology entrepreneurs and small enterprises to carry out research and development work for starting new businesses and conducting market validation.
  • For projects approved for funding, a grant of up to HK$4 million will be provided on a dollar-for-dollar matching basis. The grant will be recouped if the project is able to attract follow-on investment or generate revenue.
  • Projects under SERAP should be completed within 2 years.
  • The applicant company will hold all intellectual property rights arising from the project.
  • The programme is open for applications all the year round. The result is normally available within two months after receipt of full information relating to an application.
  • SERAP funded companies are eligible for participating in the Internship Programme to receive assistance in hiring additional staff. A maximum of 2 interns can be hired for each project approved under SERAP.

Who are eligible to apply?

A company will be eligible to apply if:

  1. it is incorporated in Hong Kong under the Companies Ordinance (Cap. 32);
  2. it has less than 100 employees in Hong Kong;
  3. it is not a large company(1) or a subsidiary of or significantly owned/controlled by a large company;
  4. it is at pre-venture capital stage; and
  5. it has substantial connection to Hong Kong which means that it should have a significant proportion of its research, design, development and management activities located in Hong Kong.

Note:(1)A company that meets one of the following criteria:

  1. A public company;
  2. A positive cashflow generated from operating activities in the ordinary and usual course of business of at least HK$20 million in aggregate for the two most recent financial years; or
  3. Has a market cap (or company asset) of at least HK$100 million

What are the vetting criteria?

Project applications will be considered by a project assessment panel comprising experts in the relevant fields. Generally speaking, the panel will consider the following factors -

  • the innovative and technological contents of the project;
  • the business viability of the project; and
  • the commitment and capability of the team.


How to apply for funding?

Application form is available at the webpage on application forms. At this webpage, you will be required to register your organization and then its relevant personnel with the Innovation and Technology Commission Funding Administrative System. The registered personnel will be responsible for submitting the project application through this system.


Is there any application deadline?

Applications can be submitted throughout the year.



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