R&D among SMBs
To support the SMB's R&D, the government proposes to enhance the Small Entrepreneur Research Assistance Program (SERAP) under the Innovation and Technology Fund (http://www.itc.gov.hk/en/funding/itf.htm) by increasing the funding ceiling for each project under the SERAP from HK$4 million to HK$6 million. Tsang said the government will also refine the operational details of the program and expand its scope of funding.
To encourage more young people to engage in R&D, Tsang noted that the government will increase the monthly allowance for each participant in the internship program under the ITF by nearly 20%. In the past three years, more than 800 internships were provided under the program, according to government figures.
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