The BDC submitted the “Proposal on Setting up BandSmart Scheme” to the Hong Kong SAR Government in July 2010, calling for stronger support to brand development and promotion.
Now that brand development has become an important avenue for Hong Kong industries to upgrade operational modes and enhance long-term competitiveness, branding is a crucial policy area to which the Government should direct more resources. Among the others, the establishment of specialized funding schemes would be one of the most effective ways to foster and facilitate the branding initiatives of the industries especially SMEs. The existing “DesignSmart Scheme” and “CreateSmart Scheme” mainly provide sponsorship to projects related to design and creativities. By definition, they nevertheless may not be fully applicable to branding activities which are far more sophisticated and comprehensive.
In this connection, it is suggested that the Government consider setting up a funding mechanism namely “BrandSmart Scheme”, either as an independent scheme or one subsumed under the “CreateSmart Scheme”. The proposed new scheme will provide funds for setting up a “Hong Kong Brand Innovation Center”, while lending financial support to a variety of brand-related activities like promotion, research, incubation, and training and general support programs through several sub-schemes.
As BDC believes, the establishment of “BrandSmart Scheme” will cater to the needs of the industries and instill into our industries high value- added contents. Moreover, this would deliver a clear message to illustrate Government’s commitment to advancing Hong Kong’s brand development.