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.
|Tier||Threshold value (HKD)||Endorsement Party|
|1||50,000 or below||Vetting Committee|
|2||50,001 to below 500,000||JVC*|
|3||500,000 or above||PAC**|
* 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.
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|| Weighting|
|Late prototype||stARt-up and growing||scale-up|
Vision and social impact
Project management and execution
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:
***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.