What is the CreateSmart Initiative (CSI)?

The Hong Kong SAR Government established CSI in June 2009 with an initial HK$300 million allocation to support Hong Kong's cultural and creative industries. It is administered by the Cultural and Creative Industries Development Agency.

Who is eligible to apply for CSI funding?

Eligible applicants normally include locally registered institutions, industry and professional bodies, research or academic institutes, and companies with a substantial Hong Kong connection. The project must benefit a creative sector or the wider industries and cannot receive duplicate public subsidy for the same cost elements.

When can I submit my CSI Fund application?

Under the July 2026 guide, deadlines fall on the last calendar day of March, June, September and December. The project event start date must be 6 to 12 months after the round deadline. Complete valid applicants are normally notified in writing about 16 weeks after that deadline; actual timing and outcome remain subject to assessment.

How much funding can I receive?

Funding is provided by way of grant, covering the net approved project cost after deducting expected income and sponsorships from other sources. The amount varies depending on your project scope and budget. Funding is disbursed by instalments tied to project milestones.

Do I need to submit audited accounts?

Yes. The completion report and final audited account are due within two months after completion or termination. The independent auditor must be a CPA registered under Cap. 50 with a practising certificate and performs the engagement under HKSAE 3000. Projects over 6 and up to 12 months require an interim report; longer projects report as specified.

How much does the government support for audit fees?

The government supports audit fees based on project cost: up to $5,000 for projects under $1 million; up to $10,000 for projects between $1-5 million; and up to $20,000 for projects over $5 million. These fees can be included in your project budget.

What are the procurement requirements?

For purchases over HK$5,000 but below HK$10,000, obtain at least 2 written quotations; from HK$10,000 but below HK$500,000, obtain at least 3; and at HK$500,000 or above, obtain at least 5. Select the lowest compliant bid unless a documented justification applies; single-source procurement requires prior Secretariat approval.

Can HKBSCL act as my auditor?

No, HKBSCL does not act as an auditor or provide audit services directly. We are consultants and coordinators who can arrange qualified Certified Public Accountants (CPAs) to conduct the required audits. We guide you through the process and facilitate communication between you, the auditor, and the CSI Secretariat.

How long do I need to keep project records?

You must maintain all financial statements, books, records, quotations, and tendering documents for at least 7 years after project completion or termination. These must be available for inspection by the CSI Secretariat or the Director of Audit at any time.

What happens if my project needs changes?

Any modification to your approved project (including changes to duration, coordinator, scope, methodology, deliverables, or budget) requires prior written approval from the CSI Secretariat. For budget control, individual items may exceed approved amounts by up to 15% without prior approval, provided the overall project cost doesn't increase.

CreateSmart Initiative (CSI) Fund Information & Guidance

Current CreateSmart Initiative eligibility, application timing, project reporting and independent audit-arrangement guidance for Hong Kong cultural and creative projects.

Service snapshot

What to expect before you enquire

See the likely scope, inputs, timing and fee basis at a glance. We confirm the exact requirements after reviewing your facts.

Best for

Hong Kong organisations planning a project that benefits a creative sector, rather than only one private business.

What HKBSCL handles: Independent application and record guidance, proposal or budget support, and arrangement of an independent CPA audit where commissioned.
Timing: As of July 2026 there are four rounds yearly. Complete valid applicants are normally notified about 16 weeks after the relevant round deadline.
Fee basis: HKBSCL support is quoted separately. Scheme audit-budget caps are funding rules, not HKBSCL service prices.The initial scope review is free. We aim to issue a written quotation within two business days after receiving the required information.

What you receive: A scoped support and evidence plan for application, procurement, reporting and completion; government approval is not guaranteed.
What you prepare: Project proposal and budget, substantial Hong Kong connection evidence, quotations, books, milestone reports and completion evidence.
Who makes the final decision: The CSI Secretariat assesses, the Vetting Committee recommends and the Controlling Officer decides in absolute discretion; large grants have added approval steps.

More details

What you receive: A scoped support and evidence plan for application, procurement, reporting and completion; government approval is not guaranteed.
What you prepare: Project proposal and budget, substantial Hong Kong connection evidence, quotations, books, milestone reports and completion evidence.
Who makes the final decision: The CSI Secretariat assesses, the Vetting Committee recommends and the Controlling Officer decides in absolute discretion; large grants have added approval steps.

Your next step

Send the applicant type, creative-sector benefit, project dates, budget and deliverables. We will flag eligibility, procurement and reporting issues before quoting.

Start an enquiry

Understanding CreateSmart Initiative Fund

CreateSmart Initiative supports eligible projects that benefit Hong Kong's cultural and creative industries. We help applicants organise proposals, budgets, records and independent audit arrangements; the official authority alone decides funding.

Funding Support

Government funding provided by way of grant to support cultural and creative industries development projects.

Eligibility Requirements

Locally registered institutions/organizations including academic institutes, industry support organizations, trade associations, professional bodies, research institutes and companies.

Application Process

Under the July 2026 guide, there are four rounds each year, closing on the last calendar day of March, June, September and December. Complete valid applicants are normally notified in writing about 16 weeks after the round deadline.

About CreateSmart Initiative

The Hong Kong SAR Government established the CreateSmart Initiative in June 2009 with an initial HK$300 million allocation. It is administered by the Cultural and Creative Industries Development Agency to support the development of Hong Kong's cultural and creative industries.

Supports projects in cultural and creative industries not covered by other dedicated government funding schemes
Strategic focus on nurturing talents, exploring markets, promoting cross-sectoral collaborations, and fostering creative atmosphere
Funding provided by way of grant, covering net approved project cost after deducting expected income and other sponsorships
The project must benefit a creative sector or the wider industries, rather than only one private company
The CSI Secretariat assesses, the Vetting Committee recommends, and the Controlling Officer makes the funding decision in absolute discretion

CSI Fund Audit Requirements

The final audited account must be prepared by an independent CPA registered under the Professional Accountants Ordinance (Cap. 50) who holds a practising certificate. HKBSCL can arrange and coordinate the independent engagement but does not perform the audit.

Submit the completion report and final audited account within two months after project completion or termination

Projects lasting more than 6 and up to 12 months require an interim report; longer projects submit progress reports as specified

The independent auditor performs a reasonable-assurance engagement under Hong Kong Standard on Assurance Engagements 3000

Verification that project funds were properly applied to the project

Confirmation of compliance with CSI funding terms and conditions

Proper books and records maintained for at least seven years after project completion

Government Support for Audit Fees

The actual expenditure for external audit fees relating to the project can be included in the project budget, subject to the following caps:

Projects costing less than HK$1 million

Maximum HK$5,000

Projects costing HK$1 million to HK$5 million

Maximum HK$10,000

Projects costing more than HK$5 million

Maximum HK$20,000

These caps apply to eligible external audit expenditure. The audit must be conducted independently by a CPA registered under the Professional Accountants Ordinance (Cap. 50) who holds a valid practising certificate.

How We Can Assist

CSI Fund Experience

We have experience with CSI Fund applications and can provide guidance:

Understanding CSI eligibility criteria and strategic focus areas
Explaining application procedures and required documentation
Sharing insights on audit requirements and compliance obligations

Application Guidance

We can guide you through the CSI Fund application process:

Preparing project proposals and budget plans
Understanding procurement procedures and hiring requirements
Arranging for qualified auditors to conduct reasonable assurance engagements

Ongoing Support

Support throughout your CSI Fund project:

Advice on maintaining proper books and records for audit purposes
Assistance with progress reports and completion reports
Coordination between you, auditors, and the CSI Secretariat

Why Consult Us About CSI Fund?

Our team has experience with CSI Fund applications and can help you navigate the requirements:

Comprehensive Understanding
We understand CSI Fund requirements and can explain the audit process and compliance obligations clearly.
Proper Preparation
Guidance helps you prepare correct documentation and maintain proper records from project inception.
Professional Coordination
We can arrange an independent CPA and coordinate requested records and communication with the CSI Secretariat; HKBSCL does not act as auditor or provide audit services directly.

Frequently Asked Questions

Common questions about the CreateSmart Initiative Fund

Official Resources

Check the latest government and regulatory guidance relevant to this service before making filing, compliance, or planning decisions.

CreateSmart Initiative - Funding Schemes

Access official information on the CreateSmart Initiative and its current funding schemes for the creative industries.

Visit official site

Create Hong Kong - CreateSmart Initiative

Review official policy and programme information published by the government authority overseeing CSI funding support.

Visit official site

Need Guidance on CSI Fund?

Contact us to review CSI requirements, application records and independent audit-arrangement needs. Advice and coordination do not guarantee funding approval.

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Understanding CreateSmart Initiative Fund

Funding Support

Government funding provided by way of grant to support cultural and creative industries development projects.

Eligibility Requirements

Locally registered institutions/organizations including academic institutes, industry support organizations, trade associations, professional bodies, research institutes and companies.

Application Process

About CreateSmart Initiative

Supports projects in cultural and creative industries not covered by other dedicated government funding schemes
Strategic focus on nurturing talents, exploring markets, promoting cross-sectoral collaborations, and fostering creative atmosphere
Funding provided by way of grant, covering net approved project cost after deducting expected income and other sponsorships
The project must benefit a creative sector or the wider industries, rather than only one private company
The CSI Secretariat assesses, the Vetting Committee recommends, and the Controlling Officer makes the funding decision in absolute discretion

Government Support for Audit Fees

The actual expenditure for external audit fees relating to the project can be included in the project budget, subject to the following caps:

Projects costing less than HK$1 million

Maximum HK$5,000

Projects costing HK$1 million to HK$5 million

Maximum HK$10,000

Projects costing more than HK$5 million

Maximum HK$20,000

How We Can Assist

CSI Fund Experience

We have experience with CSI Fund applications and can provide guidance:

Understanding CSI eligibility criteria and strategic focus areas
Explaining application procedures and required documentation
Sharing insights on audit requirements and compliance obligations

Application Guidance

We can guide you through the CSI Fund application process:

Preparing project proposals and budget plans
Understanding procurement procedures and hiring requirements
Arranging for qualified auditors to conduct reasonable assurance engagements

Ongoing Support

Support throughout your CSI Fund project:

Advice on maintaining proper books and records for audit purposes
Assistance with progress reports and completion reports
Coordination between you, auditors, and the CSI Secretariat

Why Consult Us About CSI Fund?

Our team has experience with CSI Fund applications and can help you navigate the requirements:

Comprehensive Understanding

We understand CSI Fund requirements and can explain the audit process and compliance obligations clearly.

Proper Preparation

Guidance helps you prepare correct documentation and maintain proper records from project inception.

Professional Coordination

We can arrange an independent CPA and coordinate requested records and communication with the CSI Secretariat; HKBSCL does not act as auditor or provide audit services directly.