Hong Kong Patent Application Grant and Subsequent Grants: A Gateway to Innovation and Growth

Hong Kong Patent Application Grant and Subsequent Grants: A Gateway to Innovation and Growth

The Hong Kong Patent Application Grant (PAG) is a pivotal funding scheme launched by the Hong Kong Government in 1998. Its primary objective is to encourage local companies and inventors to capitalize on their intellectual work by registering patents. This initiative is administered by the Innovation and Technology Commission (ITC) with the Hong Kong Productivity Council (HKPC) acting as the implementation agent.

The PAG Scheme

The PAG scheme provides financial support of up to *HK$250,000* or 90% of the total direct costs of the patent application, whichever is lower. This support is available to locally incorporated companies, Hong Kong permanent residents, or residents permitted to remain in Hong Kong for at least seven years. The scheme is designed for first-time patent seekers, ensuring that funding is not provided if the applicant or their related companies have previously received PAG funding.

Subsequent Grants

Building on the foundation laid by the PAG, several subsequent grants are available to further support innovation and market expansion:

1. SME Export Marketing Fund (EMF): This fund aims to encourage small and medium enterprises (SMEs) to expand their markets outside Hong Kong by providing financial assistance for participation in export promotion activities. The maximum grant amount is HK$100,000 or 50% of the total approved expenditures, whichever is lower. This fund is open to non-listed enterprises registered in Hong Kong with substantive business operations in the region.

2. Enterprise Support Scheme (ESS): This scheme provides funding to support applied research and development (R&D) projects undertaken by local enterprises. The goal is to enhance their competitiveness and foster innovation. The ESS is part of the Hong Kong Government’s broader strategy to promote R&D and technological advancement.

3. Research Talent Hub (RTH): This fund supports companies in recruiting research talent to conduct research and development projects. It aims to foster innovation by ensuring that businesses have access to highly skilled researchers who can drive forward their R&D efforts.

Hong Kong Science & Technology Park’s Incubation Program

The Hong Kong Science & Technology Park’s Incubation Program is a critical initiative designed to support technology startups. This 3-year program offers comprehensive services, including funding, R&D support, mentorship, and investor matching. Startups can access world-class equipment, software, and lab facilities, and benefit from the guidance of experienced mentors and industry experts. This program significantly lowers the barriers for startups to develop and commercialize their innovations, making it an attractive option for budding tech companies.

Pintas Consulting Group’s Role

With an office in Hong Kong, Pintas Consulting Group is strategically positioned to leverage these grants and support local companies in their innovation and market expansion efforts. Our team of experts can guide clients through the application process for the PAG, ensuring they meet all eligibility criteria and maximize their chances of securing funding. Once the PAG is secured, we assist in filing their patents internationally, leveraging our extensive network and expertise.

Additionally, we can help businesses take advantage of the other available grants and programs, including the EMF, ESS, RTH, and the Incubation Program. By tapping into these grants, companies can not only protect their intellectual property but also gain the financial support needed to bring their innovations to market.

In conclusion, the Hong Kong Patent Application Grant and its subsequent grants provide a robust framework for fostering innovation and growth. With the support of Pintas Consulting Group, companies in Hong Kong can navigate these opportunities and drive their businesses forward.

Ready to explore the opportunities Hong Kong has to offer? Contact Pintas IP Group now and find out how you can leverage on these grants.