HK opens new round of funding for professional services development

It is accepting funding applications until 31 May.

The Professional Services Advancement Support Scheme has launched a new round of funding for non-profit-distributing organisations, with applications open until 31 May.

With $200m allocated, the scheme subsidises industry-led projects that promote international collaboration, publicity, and capability building in Hong Kong’s professional services sector. Eligible applicants include professional bodies, trade and industrial organisations, and research institutes.

Funding is available for projects in accounting, legal and dispute resolution, architecture, engineering, healthcare, ICT, design, and technical testing.

Each approved project can receive up to $3 million or 90% of the total eligible project cost, whichever is lower. Since its inception, the scheme has supported nearly 120 projects, benefiting both Hong Kong and overseas markets.

The government has also set aside $50m for the Professionals Participation Subsidy Programme to help major professional bodies join government and Trade Development Council activities in Mainland China and overseas.

Applications are accepted year-round and processed quarterly. A briefing session will be held this month.