New Industrialisation Funding Scheme (NIFS)
(formerly known as Re-industrialisation Funding Scheme (RFS))
Objective
New Industrialisation Funding Scheme (NIFS) (renamed from Re-industrialisation Funding Scheme effective from 25 October 2023) aims to subsidise manufacturers to set up new smart production lines in Hong Kong.
Eligibility
Companies incorporated in Hong Kong under the Companies Ordinance (Cap. 622) are eligible to apply.
Key Features
- Entire or a significant portion of the production line under application should fulfil the "smart manufacturing" criteria.
- Funding will be provided on a 1 (government) : 2 (company) matching basis.
- Maximum funding support: one-third of the total approved project cost or $15 million per project, whichever is lower. Each company can have in total 3 project applications and on-going projects under the scheme at any one time to receive total maximum funding of $45 million.
- Funding scope: expenses directly related to the establishment of the new production line in Hong Kong.
- Project duration: normally within 24 months.
Application
NIFS invites application for funding all year round. Applicant is required to register its entity and the relevant personnel with the Innovation and Technology Commission Funding Administrative System (ITCFAS) prior to submitting the application electronically. Please read the following documents before submitting an application:
- Guide to Application for the New-Industrialisation Funding Scheme
- Checklist of Documents Required for Submission of Applications
Assessment
The Innovation and Technology Commission (ITC) will conduct an initial assessment of the application and submit the funding recommendations to the NIFS Vetting Committee (the Committee) for consideration. Applications supported by the Committee will be submitted to the Commissioner for Innovation and Technology for funding approval.
Frequently Asked Questions
All companies incorporated in Hong Kong under the Companies Ordinance (Cap. 622) are eligible to apply for funding under the NIFS for setting up new smart production lines in Hong Kong. The production lines can be set up in or outside the industrial estates of the Hong Kong Science and Technology Parks Corporation. All industrial sectors are welcomed.
The funding under the NIFS covers expenses directly related to the establishment of the new smart production line in Hong Kong, including the costs of procurement, installation and commissioning of the machinery/equipment/apparatus, fees for engaging technical consultant(s) for the design and setting up of the production line concerned, relevant testing and staff training, patent registration fee (maximum patent registration fee allowed for a project is $250,000), external audit fee not exceeding $20,000 per audit (a maximum of two audits will be funded per project), as well as legal service fee related to the legal charge on the funded production line (not exceeding $20,000).
The production line or a significant portion of the production line should fulfil the "smart manufacturing" criteria, i.e. the integrated and intelligent use of "smart" technologies such as Internet of Things, real-time data, application of data analytics and advanced human-machine interfaces, artificial intelligence/machine learning/deep learning, automation and robotics, sensors and actuators, etc. in the production process.
The objective of the NIFS is to subsidise manufacturers to set up new smart production lines in Hong Kong. A company may consider another funding programme under the Innovation and Technology Fund - the Technology Voucher Programme for upgrading an existing production line.
Others
Subject to the legal charge as further mentioned below, the title and interest in machinery/equipment/apparatus and other assets of the production line purchased with funds under the NIFS shall be vested with the applicant.
To ensure that the funded projects can bring substantive economic benefits to Hong Kong for a reasonable period, unless with prior written approval from the Government, the production line funded under the NIFS cannot be transferred to other parties or to any place outside Hong Kong within five years after project completion if the relevant NIFS funding amount is $5 million or above, or within three years after project completion if the relevant NIFS funding amount is below $5 million. The funding agreement to be signed by the applicant with the Government would set out the above restriction and that the Government has the right to recoup the funding disbursed in whole or in part in case of non-compliance. The Government will also create a legal charge in respect of the relevant production line and register such a charge with the Companies Registry.
- Tel: (852) 3655 5678
- Fax: (852) 2199 7004
- Email: nifs-enquiry@itc.gov.hk