Many innovative companies seek funding to develop new products or services. Although traditional funding channels are certainly worth considering, too often companies fail to explore government grants for development projects.
In order to support innovative companies in the development of innovative products or services, the Flanders Agency for Innovation and Entrepreneurship (VLAIO) set up the Development Project grant program.
All companies with legal personality and operational activities in the Flemish Region can apply for the subsidy.
Every product or service which is innovative compared to the existing products and services in the company or industry qualifies for the grant. Non-significant or incremental improvements to existing products or services do not qualify.
We have assisted clients in obtaining subsidy grants for the development of software platforms and applications, research and development on improved components in existing products, the integration of artificial intelligence based functionalities in existing software platforms and so on. If you wish to pitch your idea to us,feel free to reach out.
The requested support for the development project should be a minimum of 25.000 EUR and a maximum of 3.000.000 EUR.
For small enterprises the subsidy rate is 45% of the total project budget. For medium sized enterprises the subsidy rate amounts to 35%. Big enterprises can claim a subsidy of 25% of the total project budget. The subsidy rate is raised with 10% in the event the development project is the result of a cooperation between two independent companies.
The total subsidy rate is capped at 50%. For transnational co-development projects with recognized European agencies and Flemish R&D companies, an uplift of 15% of the subsidy rate is available, with a maximum of 60%.
The project budget is based on all costs necessary to carry out the project,these include:
- Staffing costs;
- Overhead costs, operational costs and investments;
- External services.
Consequently, it is important to make a good and true estimate of all costs and especially to identify hidden costs in order to maximize the subsidy.
As an IP/IT firm, we have an extensive experience in assessing and securing innovation, promoting it, and making it accessible to a wider audience. We will go over every aspect of your project to provide the best description based on what VLAIO needs to see.
We will assist you in scoping the project budget, defining the necessary steps of the development project and tackling all legal challenges to your inventions.
Every document is subject to an iterative agile process to receive input from relevant members of your team and ensure the final deliverable is the most accurate and attractive description of your project.
After the submission of the application, we will assist you in defending the application with VLAIO. Following the subsidy grant, you can count on us to handle all reporting requirements with regard to the development project.
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