VETTING PROCEDURE

HKCSS' Impact Incubator team will conduct a preliminary assessment of all applications received, and submit recommendations to the Vetting Committee for a decision. During the preliminary assessment, the Impact Incubator team might require clarifications or supplementary information from the applicant. Representatives of the applicant may be required to attend meetings to present their project proposals and answer questions from the Joint Vetting Committee (JVC) / Proposal Assessment Committee (PAC). The applicant will be informed of the outcome after the Vetting Committee has made the decision. HKCSS, the Impact Incubator team and SIE Fund Task Force reserve the right on the ultimate funding decision.

FUNDING TIERS

TierThreshold value (HKD)Endorsement Party
150,000 or belowVetting Committee
250,001 to below 500,000JVC*
3500,000 or abovePAC**

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

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

VETTING TIMETABLE

Under normal circumstances, the initial vetting result will be  emailed to the applicant's registered email address within 50-60 working days after the application deadline. Tier 3 Funding applications will require a longer vetting procedure.

VETTING CRITERIA


                  Vetting criteria

                                 Weighting

         Late                    prototype    stARt-up                 and                   growing    scale-up

Vision and social impact

  • Clear vision and objective which align with SIE Fund objective
  • Clear illustration of output, outcome and impact
  • Sound measurement of social impact (not applicable to late prototypes)

30%

30%

30%

Project management and execution

  • Effective operational model and work plan
  • Good management team
  • Cross-sectoral collaboration
  • Good publicity, marketing and promotion plan
  • Sound corporate governance and risk management (not applicable to an individual's late prototype funding application)

25%

30%

30%

Innovativeness

  • Demonstration of project innovativeness (e.g. idea, business model, delivery approach, etc)
15%10%10%

Team capability

  • Commitment, leadership and relevant experience of the founder(s)
  • Sense of entrepreneurship and social awareness
20%15%10%

Cost effectiveness

  • Sound sustainability model
  • Financial risk management
10%15%20%

NOTIFICATION OF RESULT

HKCSS' Impact Incubator team will notify the applicant of the vetting result by  email. If an application is rejected, the Impact Incubator team will inform the applicant of 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. For applicants' reference only, the Summary of Principal Terms for each application type, is as follows:

Late Prototype (individual) application ***

Late Prototype (organisational) application ***

Start-up/ Growing/ Scale-up application ***

***The information in the Summaries of Principal Terms is non-binding and non-committal. It is intended to facilitate the Grantee's consideration of the agreement with the SIE Fund (Trustee) and not intended to be legally binding or to give rise to any other rights or obligations. Nothing in the Summaries of Principal Terms shall constitute any commitment of the Trustee to provide the requested grant. The provision of any grant is subject to the terms and conditions of the legally binding agreement to be entered into between the Grantee and the Trustee of the SIE Fund.