Innovation Credit: Application process

Technical or clinical project

For the Innovation Credit, we distinguish technical and clinical projects. Characteristic of clinical development projects is that the products or processes to be developed, or parts thereof, have to be clinically tested in humans before introduction on the market. This comes with an extra risk, because it can be difficult to predict in advance whether the clinical testing can be completed successfully.

Attachments to your application

You must include the following attachments in your application: 

• A business plan, in which you clearly state the market size, competitive position, value for the customer and the revenue model. You need to substantiate your plan using figures.
• A project plan, in which you clearly state the status of the technology, technological feasibility and what makes your proposal unique. In this plan, based on a technical risk analysis, you will come up with a systematic project plan with clear and intermediately measurable milestones.
• A financing plan, in which you give a clear overview of your project budget, your company’s finances and a cash flow overview from now until you complete your loan repayments. The following costs are considered development costs: personal wage costs, materials, depreciations, outsourcing costs, travel expenses and costs associated with patent applications.
• Documentary evidence of other financing of the project and the company during the project period. Examples include signed term sheets, loan agreements, investment agreements and contract agreements.
• The most recent annual financial statements or opening balance sheet and internal financial report of the current financial year.
• Excerpt from the Chamber of Commerce. The copies do not need to be certified.
• An SME assessment (in Dutch) you use to determine the size of your business. The assessment is in Dutch. The credit percentage you are eligible for is based on the SME assessment. In a collaborative venture the maximum credit percentage may be raised to 50% or 40%.

Read more about the criteria the attachments to your application must meet.

Financial model

Use the Innovation Credit financial model ('Financieel model Innovatiekrediet') for your application. This form is in Dutch. For the other attachments you may use your own format. 

Following your application

Your application will be assessed by us and an external advisory committee. The project adviser will explain the decision to you in a letter and on the phone or in person. If the decision is in your favour, then your project will begin on the agreed upon date.

Read more about the process following your application

Practice corporate social responsibility

In the production and services of your company, please consider the consequences for humans, the environment and society. Corporate Social Responsibility (CSR) is not only good for the world but also for your company. We would like you to include the subject of CSR in the business plan for your application. We encourage all organisations to practice corporate social responsibility. Would you like to know more? Visit our CSR page or contact one of our advisers.