The Commerce & Economic Development Bureau is inviting a new round of funding applications for the Professional Services Development Assistance Scheme until June 30.

The scheme finances projects which will increase the competitiveness of Hong Kong's professional services on the Mainland and other external markets, and enhance local professional services' standard.

Non-profit-distributing professional, trade, or industrial organisations and research institutes are eligible. Grants are given on a dollar-for-dollar matching basis, with a maximum of $2 million for a project.

A vetting committee - comprising professionals, business people, academics and a government official - will assess applications and monitor approved projects.

The bureau will organise a briefing session on May 30. Helpdesk service will also be available from the same day. Interested parties can call the enquiry hotline 2918 7593 or click here for details, or registration.

The scheme was launched in February 2002 with a $100 million allocation. A total of 196 applications, involving $77.6 million, were recommended in the previous 18 rounds. Processing of applications received in the 19th round is underway and the results will be ready in mid-June.