What does the Development Project subsidy entail?
With this subsidy, Flanders Innovation & Entrepreneurship aims to support enterprises in developing products that could positively affect their business.
Realising an innovative idea is a long, arduous process, often with no immediately visible results. Many different steps must be taken before this idea can result in successful business. Maybe one of these steps involves developing a completely new or significantly innovative (improved) product, process, service or concept that could play a key role in strengthening your business in the short term. If this is the case, then you might be eligible for the Development Project subsidy offered by Flanders Innovation & Entrepreneurship.
With the Development Project subsidy, Flanders Innovation & Entrepreneurship aims to support enterprises in developing these new/innovative products, services, etc. As Flanders Innovation & Entrepreneurship grants this subsidy with the intention of promoting economic growth, it is important that enterprises can prove the potential and the importance of their projects in the short term. Only development projects that deviate from the day-to-day business of an enterprise and that help acquire novel knowledge and insights for a certain industry will qualify for this subsidy. In addition, entrepreneurs should be able to describe the possible challenges of the development process and the ways in which they aim to tackle these, as well as being able to substantiate which resources they will need and the ultimate outcome and effects they expect the project to have (both on the Flemish economic system and in their company).