Re-industrialisation Funding Scheme funds projects from two enterprises to set up smart production lines for nano-coated fabric and nanofiber respirator, and whole-garment knitwear respectively (with photos)
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The Re-industrialisation Funding Scheme (RFS) under the Innovation and Technology Commission today (March 14) has approved a total of $30 million to two smart production line projects ($15 million each) for nano-coated fabric and nanofiber respirator from Profit Royal Pharmaceutical Limited, and whole-garment knitwear from Sew Solution Limited respectively.
The Commissioner for Innovation and Technology, Ms Rebecca Pun, said, “The two funded enterprises are from the medical devices industry and the textiles and clothing industry respectively. Through setting up smart production lines, both companies aim to upgrade their mode of production, and enhance productivity, production technologies and product quality, in order to meet market demands and strengthen the competitive edge of local industries and the ‘Made in Hong Kong’ brand. We look forward to seeing more enterprises from different sectors set up smart production lines with the support of the RFS to make the ‘Made in Hong Kong’ brand shine.”
Profit Royal Pharmaceutical Limited will set up new smart production lines for nano-coated fabric and nanofiber respirator with the funding support of the RFS. The approved total project cost is about $70 million and the company will bear about $55 million. The new smart production lines will be established at the Advanced Manufacturing Centre in Tseung Kwan O InnoPark. The company’s goal is to further expand its business into global markets with an increased production capacity after meeting local demands.
Sew Solution Limited will set up a digital whole-garment knitwear smart production line with the RFS funding. The approved total project cost is about $49 million and the company will bear about $34 million. The smart production line will be established in the company’s factory premises in Kwun Tong, covering product design, digital simulation of samples, engineering parameters and programming to intelligent production. The production line is expected to operate 22 hours per day, increasing the overall equipment efficiency by 35 per cent and reducing the production cost by 40 per cent compared with the existing production line.
Under the RFS, the Government will provide funding on a 1 (Government): 2 (company) matching basis to subsidise manufacturers to establish smart production lines in Hong Kong. The funding ceiling is one-third of the total project cost or $15 million, whichever is the lower. Since the launch of the RFS in July 2020, the RFS Vetting Committee has supported 30 applications, covering sectors such as food manufacturing and processing (including health food), medical devices, construction materials, biotechnology, nanofiber materials, pharmaceutical (including Chinese medicine) manufacturing, equipment accessories, textiles and clothing, electronics, satellite manufacturing, etc. The total funding amount is over $270 million and the matching amount provided by the companies is about $730 million.
The RFS is open for application throughout the year. Details are available on the website of the Innovation and Technology Fund (www.itf.gov.hk/en/funding-programmes/facilitating-technology/rfs). For enquiries, please contact the RFS Secretariat (Tel: 3655 5678; email: rfs-enquiry@itc.gov.hk).