Dakstructuur in London - foto van Unsplash
Subsidies

Development project

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When will the subsidy be granted?

The payment of the Development Project subsidy occurs in parts.

The exact amount of the different payments is determined at the moment of decision.

You will receive the first part of the subsidy after you have confirmed the start of the project (and have agreed with any special conditions), the last part is paid after the successful termination of the project.

Each business partner will be paid directly and individually by VLAIO. Research partners and subcontractors must be paid by the business partners.

The subsidy will only be granted if the business partners execute the development project in the way that was agreed upon and if they perform both their duty to report unanticipated changes to the project execution and their duty to report on their progress.   

At the end of the project, a final verification of the real costs is made. Based on the approved costs and the applied support percentage, the remaining last part of the subsidy is determined and paid. 

Modified Process Flow for submitting the final financial report for innovation support

The modified process flow for having an accountant or auditor submit the final financial report applies to companies that submitted a project application after 1/07/2021 with the exception of:  

  • companies/knowledge institutions that have previously made agreements with VLAIO on gross wages for employee categories
  • organisations using government pay scales 

If one is exempt from this, the final financial report, along with any supporting documents of the cost headings External performance and Investments, shall be uploaded by the legally valid representative. There is no need for an accountant or auditor.

For companies that have submitted a project application after 1/07/2021, the final financial report along with the Report of professional and supporting documents must be uploaded by the chartered accountant or auditor. 

The lead applicant and any business partners each prepare a final financial report separately. They engage an accountant or auditor to perform specific work described in the Report of professional.

The company collects the necessary supporting documents for eligible costs. (see Report of professional Appendix 1 File: supporting documents provided by the Applicant). 

Costs may include:

  • personnel costs
  • operating costs
  • third-party service costs
  • investment costs

The completed final financial report, supporting documents, with the decision letter, the link to the VLAIO portal and any appendices and addenda are provided to the auditor or the chartered accountant. 

The auditor or the chartered accountant requests the approved budget from VLAIO - verificatie@vlaio.be. 

Based on:

  • the approved budget
  • the final financial report
  • the supporting documents
  • the decision letter 
  • any appendices and addenda 

the auditor or accountant performs the specific work described in the Report of professional noting any findings. After signing the report, the auditor or accountant uploads this document along with the final financial report including supporting documents via the VLAIO portal.

(*) As a result, the legal representative gives power of attorney to The Professional to upload the required reports on the VLAIO portal.

The appendix 2 referred to in the diagram above can be found in the Guide to the cost model.

More information

Contact

Address
VLAIO

Koning Albert II-laan 35 bus 12
1030 Brussels
Belgium

Telephone
T0800 20 555
Mail
info@vlaio.be