Eats365 Now Compatible with HK’s Technology Voucher Programme (TVP)
Receive up to HKD 600,000 of TVP funding when switching to a smart F&B solution like Eats365
What is Hong Kong’s Technology Voucher Programme (TVP)?
As Hong Kong aims to guide its businesses and enterprises toward a smarter future, the government has created the TVP Grant as an incentive to embrace new tech. The TVP Grant, set up in November 2016, rewards local Hong Kong businesses and enterprises that switch from older legacy systems to newer, tech-based solutions. The aim is to see more and more businesses adopting smarter solutions that “improve productivity, or upgrade or transform their business processes.” HK businesses that switch to supported tech solutions – like Eats365 – are eligible to receive up to HKD600,000 of funding, which can be a life-saver in today’s turbulent market.
Is Your Business Eligible to Receive TVP Funding?
In order to receive TVP funding from the Hong Kong government, your business will need to meet the following 3 criteria:
1. Your business must be registered in Hong Kong under the Business Registration Ordinance (Cap. 310); or
Incorporated and registered in Hong Kong under the Companies Ordinance (Cap. 622); or
Established in Hong Kong by relevant ordinances as statutory bodies
2. Your business must not be a listed company in Hong Kong, and not a government subvented organisation3 or subsidiary of any government subvented organisation3;
3. Your business should have substantive business operation in Hong Kong which is related to the project under application at the time of application.
Key Features of the TVP Grant
The funding will be provided at a 3(government):1 (business/enterprise) ratio. Basically, every dollar the business puts into adopting new TVP-supported tech solutions, the government will pay an additional 3 dollars.
The ceiling cap for any business/enterprise’s government TVP funding is HKD600,000
There can be a maximum of 6 projects that a business/enterprise can apply for at any given time
5 Reasons Why it’s Worth Applying for the TVP Grant
1. Begin Your Business Growth
With the onset of the COVID-19 pandemic, there’s no better time to invest in new strategies and technologies to help you survive and excel in today’s choppy market conditions. Modern tech solutions like Eats365’s F&B platform can give your restaurant business a push in automation, efficient management, online business operations, takeaway and delivery integration and much more. The TVP Grant makes taking that first step and starting your business transformation journey much more realistic.
2. Get Funding for a Smarter Business Model
Let’s face it, restaurants are being forced to adapt to survive these days. However, the burden of switching to smarter solutions can be too costly for some struggling businesses. With TVP support, your business can invest far less and still enjoy all the benefits of a smarter restaurant solution.
3. Build a Solution that’s Optimized for Your Restaurant
With TVP funding, you have the ability to pick and choose what features, modules and services you need so your restaurant can run like a well-oiled machine. Instead of being limited by your budget, you can now enjoy a solution that gives you the most competitive and necessary market tools to earn more in Hong Kong’s challenging F&B sector.
4. Lay the Groundwork for the Future
The pandemic will not be around forever, but many of the tech habits that it has engrained into customers will outlast it. For example, BYOD technology (use of mobile devices to place orders/scan menus etc) will likely be a mainstay of successful Hong Kong restaurants even after the pandemic dies down. Why not invest in technologies like this now so you don’t get left behind later?
5. Save a Lot of Money
Not only will you be saving on the cost on new tech solutions for your restaurant via the TVP Grant's funding, but the technology, itself, will save you loads in the long-run. Utilizing a cloud-based F&B solution like Eats365 can automate basic tasks so you will be able to excel with fewer staff, it can allow modules to communicate instantly with one another, reducing the time needed for table turnover, it can increase efficiency of staff members for faster customer service, it can help you set up CRM and loyalty, so your customers give you repeat business, and it can even help you track which items sell well, so you can streamline your menu and serve high-profit items.
Apply for Your TVP Grant Now
Switching your F&B tech solution to Eats365 has never been easier. Now that Eats365 is a supported solution that’s part of the TVP Grant, you can future-proof your restaurant and put in place the tech tools you need to survive and thrive in a turbulent pandemic-hit Hong Kong. With a potential new slew of restaurant restrictions on the horizon, the TVP could be the vital lifeline that restaurants need to power through these tough times.
Get in touch with us to learn more.