The TVP aims to subsidise local entities on the use of technological services and solutions to improve productivity, or upgrade or transform their business processes, in order to enhance their long-term competitiveness. Funding up to $400,000 for each eligible applicant will be provided on a 2:1 matching basis. The applicant must contribute no less than one third of the total approved project cost in cash. In other words, funding of no more than two-thirds of the actual project cost will be provided to an applicant on a reimbursement basis. Subject to the cumulative funding ceiling of $400,000, up to four projects from an applicant may be approved.