When will the subsidy be granted?
The payment of the subsidy for innovative starters occurs in two 50% instalments: one instalment at the start and one at the end of the project.
In case of a positive decision, a support agreement is concluded between the ‘Fonds voor Innoveren en Ondernemen’ and the beneficiaries.
The support agreement is a best efforts obligation (It binds the partners to make every effort to achieve the described goal) and mentions the indicative timing of the payment of the support. Payment is conditional on proper compliance with the agreements and on performing the duty to report unanticipated changes to the project execution and the duty to report on progress.
The first advance is paid after receipt of the signed funding agreement. The second instalment will occur after the final progress report has been submitted and after it has been evaluated by VLAIO. In this final report, you should mention the outcome of your project and the steps you plan to take in the future.