More Innovation Credit available for clinical development projects

The budget for clinical development projects has been increased by 10 million euros to 30 million euros in innovation credit as of 11 May 2018. The budget for technical development projects remains unchanged at 40 million euros, according to the Ministry of Economic Affairs and Climate. According to the ministry, there is still plenty of budget available for technical development projects. As a result, applications can still be submitted. These credits are intended for innovations, originating from start-up entrepreneurs to large companies, that have excellent market prospects. On the RVO website you can more information find about Innovation Credit. There is also a quick scan present. The financial scope for innovations in the field of clinical development projects is considerably over-requested. That is why the ministry has decided to increase the budget to 30 million euros. Nevertheless, the ministry expects that with the applications already submitted in 2018, the budget increase will be exhausted quickly. With the Innovation Credit, the Ministry of Economic Affairs and Climate wants to contribute to the innovative power and sustainable growth of the Dutch economy. The innovation credit must help entrepreneurs who cannot yet access the capital market, often because they are still working on the development phase of the innovation in question.