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

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

* 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 50-60 working days after the application deadline to your registered email. If your applicant falls into tier 3, the longer vetting procedure is expected.

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

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 late prototype stage application)

25%

30%

30%

Innovativeness

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

Team capability

  • Commitment, leadership and relevant experience of 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 will notify the applicant of result in writing to your registered email. 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.