Grant Innovation Credit
The ‘Innovation Credit’ is a government credit for the financial support of risky innovation. The credit is intended to finance promising innovative projects. These projects should lead to new products within a few years. For example, the technical development of a new product, or the development of a drug that still requires a clinical study.
The scheme is open to a technical development project: a systematic set of activities in the experimental development phase, aimed at converting the results of industrial research into plans, schemes or designs for new, modified or improved products, processes or services, which are new are for the Netherlands.
Maximum of € 5 million for clinical development projects up to € 10 million for technical development projects. The credit percentage is maximum 45% for small businesses and 35% for medium businesses. This can be 50% with a partnership (eg national or European SMEs, large companies or knowledge institutions). For large companies, it is 25% without collaboration and 40% with collaboration.
This concerns an interest-bearing loan which, in principle, must be repaid. At the end of the project, you repay at least once per quarter, in accordance with the agreements made and including the interest credited. The interest for new technical development projects is usually 7%. This is 10% for new clinical development projects.
- The project is technically challenging and innovative with a positive contribution to the Dutch economy;
- Some preliminary research (feasibility / market perspective, Proof of Principle) has already been carried out;
- There is a substantiated large market share and perspective;
- Projects must be fully funded: hard commitment of other funding besides the IK;
- At least € 150,000 in project costs;
- Within 5 years, a market-ready product, process or service is produced for it;
- RVO has a right of pledge on all tangible and intangible assets developed in the project during execution and in the event of project failure (risk coverage);
- Cannot be combined with other government subsidies;
- Regularly reporting during the implementation of the project.
An application can be submitted throughout the year. Applications are handled in order of receipt. The day of receipt of the application is decisive, and not the time.Applying for Innovation Credit involves several steps, requiring a thorough approach and specialist knowledge. This includes preparing a realistic analysis of the project and the underlying business case, formulating a project plan / business plan / financials and budget, in the right structure for the right impact: this is the translation of your project into the innovation credit . We are ready to help!