Innovation Credit

Groundbreaking innovations often require a substantial amount of money. However, not every scientific entrepreneur has the financial weight to make the necessary investments. Do you want to use every possible opportunity to get your promising and challenging innovation off the ground? Then apply for a loan under the Innovation Credit Scheme.

You have an innovative idea, and you see opportunities for a new product, medicine or device in the market. You have the expertise, the vision and the ambition, but you lack the financial skills. Promising projects with high risks that banks and other investors will not invest in. The Netherlands Enterprise Agency (RVO) can help you by supplying a direct loan that enables you to finance part of the project costs: Innovation Credit.

About the Innovation Credit

The Innovation Credit provides financing for your project. The amount of credit depends on the size of your company.

  • Small SMEs: 45% of your development costs.
  • Medium SMEs: 35% of your development costs.
  • Large enterprises: 25% of your development costs.

The maximum credit amounts to € 5 million for clinical development projects, and € 10 million for technical development projects. Development costs include, among other things, in-company labour costs, materials, depreciation, outsourcing costs, travelling expenses and costs of patent applications.

Who can apply?

All companies, whether start-ups or well-known companies, can apply for the Innovation Credit. Innovation Credit will help companies become more innovative and help the Dutch economy become more sustainable.

To be eligible you must meet the following requirements:

  • Businesses must be established in the Netherlands.
  • Projects should be innovative and challenging.
  • Projects should be viable according to research (Proof of Principle)
  • Projects should lead to a marketable product, process or service within 5 years.
  • There is a minimum of €150,000 in project costs.
  • Projects should contribute to the Dutch economy.
  • There should be enough financial resources to complete the project (together with the funding), including any setbacks.
  • The Innovation Credit may not cumulate with other government grants

How to apply for funding

Prior to your application, you have to submit a concisely described project idea in a quickscan. Based on this application, an advisor of the Netherlands Enterprise Agency will inform you of your chances of being awarded a subsidy, and if necessary, advise you on how to increase your chances.

When is the deadline?

Applications can be submitted all year round and each application is assessed individually.

Budget

The total 2022 budget is €60 million: €40 million for technical development projects and €20 million for clinical development projects. The Netherlands Enterprise Agency has a first come first serve policy concerning (complete) applications.

More information about Innovation Credit

We have extensive experience in applying for the Innovation Credit. Are you curious about whether your activities qualify for this scheme? Please contact us without obligation. We will help you understand your options and explain the conditions. Call 088-838 13 81 or send a message below.

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