7 Common FAQs
What type of enterprises are eligible for ReTAAS?
What is the maximum amount of funding available to an enterprise?
What type of projects are eligible for funding?
What are the major vetting criteria?
What documentations are required for application?
How long is the assessment and approval process?
How to apply?
Eligibility for Application
1. What are the requirements for enterprises to apply for the “Retail Technology Adoption Assistance Scheme” (ReTAAS)? Is it only for SMEs? Any limitation on the number of outlets?
- Any non-listed enterprises registered in Hong Kong under the Business Registration Ordinance (Chapter 310) with substantive retail business in Hong Kong are eligible to apply, irrespective of their number of outlets.
- This scheme is not restricted to SMEs. Retail chain stores or companies running under franchise can also apply through their head office or franchiser for one application.
- Related enterprises, i.e. enterprises registered as different business under the Business Registration Ordinance (Chapter 310) but having the same individual(s) holding 30% or more ownership, would be treated as one single enterprise for the purpose of calculating the cumulative funding amount (i.e. subject to cumulative funding ceiling of HK$50,000)
2. Should the enterprise in brick-and-mortar shop be eligible for application? Can online shop apply?
- Both online shop and brick-and-mortar shop can apply for the ReTAAS scheme.
3. What documents are required to prove that enterprise is running substantive retail business?
- Documentations to prove enterprise running retail business in Hong Kong includes employees records, business registration, annual return and business transaction records such as invoices.
4. What are the maximum amount of funding and number of projects?
- Up to two projects form an enterprise may be approved, subject to the cumulative celling of funding support of HK$50,000.
- Funding will be provided on a matching basis, i.e. enterprise will be funded a maximum of 50% of the total project cost.
5. Is there any time requirement for completing the project under ReTAAS?
- Enterprise shall complete its project within 6 months from the date of signing of the funding agreement with the Secretary.
6. Can enterprise apply for another project before the completion of the current project?
- Enterprise can apply for another project before or after the completion of the first project, in condition that the enterprise does not exceed the maximum number of projects allowed (two) and the maximum accumulative subsidy (HK$50,000). The enterprise, however, has to provide information about the current approved project (such as project name, approved funding amount, project implementation timeline) on the application form.
7. Can enterprise apply for ReTAAS and other government funding on the same project?
- Project that will receive or has already received government funding, will not be funded from ReTAAS.
8. Any example of technology application?
- Typical technology applications include Point of Sales (POS) system, e-Shop, electronic payment system, Inventory system and safety andsurveillancesystem.
- Technology that is not listed in the application guideline may also be funded.
9. What is covered by the subsidy?
- Direct expenses of the applied project, such as system software, hardware and training.
- Funding cannot be utilized on daily operational cost of the enterprise (e.g. employee salary, general administration and office expenses)
Application process and arrangements
10. What are the vetting process and vetting criteria?
- Secretariat will conduct a preliminary assessment and may request supplementary information from the applicant if needed.
- After the completion of initial assessment, the Secretariat will submit the application with its comments to the Vetting Committee for consideration.
- The Vetting Committee considers the application. The main assessment criteria include:
- eligibility of the applicant
- effectiveness of the proposed project in managing retail manpower demand
- reasonableness of the proposed cost
- practicality of the proposed implementation programme
- room for the proposed technologies for wider adoption in the retail industry
11. How long is the assessment and approval process?
- It usually takes about 50-90 days for review and approval after Secretariat has received all the necessary information.
12. When can the enterprise receive the subsidy?
- The enterprise will receive the subsidy upon successful implementation of the project and production of the project deliverables in accordance with the project proposal by the completion date specified in the funding agreement or by such other date as the Secretariat may approve in writing; and the submission of the completion report and the final audited accounts in form and substance to the satisfaction of the Secretariat within two months after completion of the project.
13. If the project was rejected, can the enterprise re-apply?
- Enterprise can re-apply if she responds or provides additional information based on the reasons of rejection of the last application. Re-application will be regarded as new application and the same review and approval process will apply.