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The Netherlands has been listed as one of the Top 5 competitive economies in the world. This is partly due to a consistent focus on innovation. The Dutch score particularly well in the fields of technology and research & development. This is why the Dutch government supports innovation with a wide range of subsidies and incentive schemes.
Corona measure: repayment extension
On 7 April, the Dutch government announced as one of the economic measures taken to reduce the effect of the corona crisis that starting and innovative businesses can apply for an extension of their Innovation Credit repayment obligation.
A solid financial plan improves your chances
You'll probably need some form of financing if you have an innovative idea that you believe could be turned into a successful business concept. A solid financial plan can significantly improve your chances of being financed. The Netherlands Enterprise Agency (Rijksdienst voor Ondernemend Nederland, RVO) provides personal advice and assistance to business owners about relevant subsidies, tax benefits, partners, knowledge and legislation.
Financial governmental support for high-risk innovation projects
If you have the knowledge, vision and ambition, but lack the financial clout, you need a partner that is willing to invest in a promising high-risk project. The Dutch Ministry of Economic Affairs can help you by supplying a direct loan that enables you to finance part of the project costs. Through the innovation credit facility the Ministry of Economic Affairs and Climate Policy financially supports small and medium-sized enterprises (SMEs) in risky innovation projects.
For this scheme, only those projects are eligible which are technologically innovative and unique to the Netherlands, Bonaire, St. Eustatius and Saba. For this reason, you are required to explain in detail the technical challenge involved and to approach the project systematically and according to a plan. The technical feasibility needs to be established and all activities up to and including the testing of prototypes must be able to be supported.
Do you want to test if your plan is eligible? On the Netherlands Enterprise Agency page about the Innovation credit, you can find a pdf Quick Scan that will help you find out.