Innovation Credit: financing of groundbreaking projects
Would you like to invest in a promising, innovative project that involves high risks? And you do have the knowledge, the vision and ambition, but you lack sufficient funding? Then the Innovation Credit offers a solution.
Innovation Credit for groundbreaking projects
The Innovation Credit is a risk-bearing, subordinated loan provided by the Dutch government to enable the financing of a development trajectory. The funding is intended for pioneering technically innovative projects that will result in a new product, or the development of a new product, within a few years.
In order to qualify for the Innovation Credit, the project should involve a technical challenge and be of a significant (commercial) interest for the future of your business. The project should offer an excellent business perspective. Is the innovation successful? Then, after completion of the project, you will have to repay the credit and the calculated interest.
Technical and clinical projects
The total budget of the Innovation Credit is € 40 million for technical development projects and € 30 million for clinical development projects. The difference between these projects is that in case of clinical development projects, the new product or process to be developed has to be tested on people. For example, the development of a new medicine. Technical development projects focus on new products involving a technical risk during the development.
The maximum credit amount varies per project. For technical development projects, there is a maximum of € 10 million and for clinical projects, it is € 5 million. The Innovation Credit will be available until 2024.
For these trajectories, our consultants cooperate with the corporate finance consultants of ABAB Accountants en Adviseurs. This means you can be sure that all aspects are geared to each other in terms of content and that the risks have been assessed and hedged in conjunction. Subsidiefocus successfully applied for the Innovation Credit for several of our clients: € 1.5 million European subsidy for Cerescon
Do you wish to know more?
Do you wish to know more about the Innovation Credit? Then please contact Roy Hoven by calling +31 (0)73-6465475 or send Roy an email.