FDCT launches subsidies targeting ‘smart city’ projects

The Science and Technology Development Fund (FDCT) has launched a new subsidy program for the region’s tech specialists to allow them to contribute to Macau’s development into a “smart city.”

The FDCT announced the program yesterday during a press conference.

The program’s first application period will be between June 15 and September 15. Individuals, enterprises, and research entities are eligible to apply.

Chan Wan Hei, member of the Administration Committee of the FDCT, spoke to the Times about the differences between this new program and the FDCT’s other programs.

According to Chan, applicants must deliver projects that are related to the concept of “smart cities,” addressing such topics as “smart traveling,” “smart medical care” or “smart government.”

“The projects that the applicants eventually submit must be feasible,” said Chan, adding that the development of apps or cloud-based solutions are some of the possible ventures. “There are no requirements in terms of innovation, as long as the projects bring advantages to customers and residents,” said Chan, adding that “the projects should have market expectations.”

He also noted that the projects should allow designers to profit from using them, and should help Macau undergo industry transformation and create business opportunities.

The program has no restrictions regarding quotas, but the FDCT hopes that at least five subsidies can be given to applicants. However, as the number of offers is not fixed, the FDCT may not offer any subsidies if no projects meet the quality requirements. 

According to Chan, there had previously been a lack of funds supporting the development of technologies. He also added that this specific program is expected to support SMEs.

The largest subsidy available amounts to MOP500,000, and the longest research period will be 18 months. Only Macau residents and Macau companies are eligible to apply.

Regarding other FDCT subsidy projects, around 200 subsidies have been awarded so far, including programs which grant less than MOP500,000 and others that grant more than MOP500,000.

Half of each subsidy will be given to the selected applicants before they initiate their project development, with the other 50 percent being given after a final project report is delivered to the FDCT.

The FDCT emphasized that this program is not aiming at supporting applicants to only produce a paper, but those who can offer something applicable and deliverable.  JZ