Small Entrepreneur Research Assistance Programme (SERAP)

(For details, please refer to the Guide to the Small Entrepreneur Research Assistance Programme (April 2012) (PDF Format).)

What is SERAP?

  • A programme which provides financing to support technology entrepreneurs and small enterprises to carry out research and development on innovation and technology.
  • For projects approved for funding, a grant of up to HK$6 million will be provided on a dollar-for-dollar matching basis.
  • Project period should not be longer than 2 years.
  • The applicant company will hold all intellectual property rights arising from the project.
  • The funding will be recouped if the project is able to attract third-party investment or generate revenue.
  • Projects with a project period of 12 months or longer can apply for the Internship Programme for financial assistance in hiring additional staff. Each project can hire up to 2 interns.
  • The applicant company can also apply for the Research and Development Cash Rebate Scheme to receive a cash rebate of up to 30% of the company’s financial contribution to the project.

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); and
  4. it is not a subsidiary of or significantly owned/controlled by a large company.

Note:(1)A "large company" generally means a company that meets one of the following criteria:

  1. A publicly listed 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 independent experts in the innovation and technology sector. Funding has to be justified on:

  • the innovation and technology component of the project;
  • the commercial viability of the project;
  • the team capability and commitment; and
  • the relevance with Government policies or in overall interest of the community.


How to apply for funding?

An applicant is required to register its organisation and the relevant personnel with the Innovation and Technology Commission Funding Administrative System (ITCFAS) prior to submitting the application proposal electronically.


Is there any application deadline?

Applications can be submitted throughout the year.



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