Vetting Procedure

HKCSS will conduct a preliminary assessment of all applications and submit recommendations to the Vetting Committee for decision. During which, HKCSS might seeks clarification or supplementary information from the applicant. Representatives of the applicant may be required to attend meeting to present their project proposals and answer questions from the Joint Vetting Committee (JVC) / Proposal Assessment Committee (PAC). The applicants will be informed of the outcome after the Vetting Committee has made the decisions. HKCSS and SIE Fund Task Force reserve the rights on ultimate funding decision.

Funding Tiers

Tier
Threshold Value (HKD)
Endorsement Party
1
50,000 or below
HKCSS
2
above 50,000 to below 500,000
JVC *
3
500,000 or above
PAC**

*Joint Vetting Committee (JVC) comprising members from various disciplines and sectors and representative(s) of the SIE Fund Task Force will assess applications; formulate funding decisions for each application. Where necessary, comments and advice will be sought from other experts.

** Proposal Assessment Committee (PAC) chaired by SIE Fund Task Force will regularly meet to access and vet on applications, authorize to make ultimate funding decision for each application.

Vetting Timetable

Under normal circumstance, the initial result will be released within

Prototype
50-60 working days
Start Up
50-60 working days
Scale Up
50-60 working days

Vetting Criteria

Weighting(%)
 
  • Clear vision and strategic direction which align with SIEFund objective
 
  • High innovativeness (ideas, business model, delivery approach)
  • Strong cross-sector collaboration
  • Effective business model and work plan
  • Good publicity, marketing and promotion
  • Sound corporate governance and risk management
 
  • With significant social impact
 
  • Strong leadership and relevant experience, extensive network
 
  • Financially sustainable and reasonable
  • Cost effective – include financial contribution to be made by the applicant (if any)

 

    Notification of Result

    HKCSS will notify the applicant of result in writing.  If an application is rejected, HKCSS will inform the reason(s) for the decision. The successful applicant may be required to revise the project proposal and / or budget, when necessary.  The revised project proposal and budget will be further examined by the Vetting Committee / JVC / PAC.  Funding approval will be granted to the applicant upon the signing of the agreement with the Trustee of the SIE Fund.

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