What are the next steps after VLAIO decides to support the project?

1

Support agreement

In case of a positive decision, a support agreement is concluded between the ‘Fonds voor Innoveren en Ondernemen’ and the primary applicant (company). The support agreement is a best efforts obligation (It binds the partners to make every effort to achieve the described innovation goal, and it includes a commitment for sufficient valorisation in Flanders in the case of successful results.).
Where relevant, VLAIO will incorporate specific conditions into the agreement, such as the authorisation of ethics committees, ownership of required permits, etc.
The support agreement can only be concluded after reception of the cooperation agreement.
2
Follow-up
The innovation goal is the starting point of a support agreement. Adjustments/ changes within the scope of the innovation goal are possible without the need to adjust the agreement.
Standard project reporting consists of short follow-up report cards for each payment, a mid-term report and a final report when the project is completed. The final report has to include:
A summary of the scientific results (academic progress);
Implementation of the innovation goal, including the strategic application;
Valorisation report;
Financial report.
3

Interim evaluation

Halfway the project, an interim evaluation is made to evaluate the progress of the project and to monitor whether the mandate is being allocated properly according to the agreed upon objectives.
The interim evaluation is based on a report about the results and the prospects for future applications. The mandate holder is always given the opportunity to have an interview with the external experts, a setting in which various elements can be explained. If deemed relevant, the scientific supervisor and the industrial mentor can also be invited for a discussion.
If during the course of the mandate, the partners wish to significantly change the innovation goal, this may also have to be submitted to the jury of external experts during the interim evaluation. In the case of positive advice, the mandate can progress further with the adjusted innovation goal. With this decision, the jury shall take into account the quality of the proposed change, but also the feasibility of the adjusted innovation goal within the remaining period, including the possibility of completing the doctorate.
4

Publication right

The purpose of a Baekeland mandate is to achieve a doctorate. Publishing is very important for a doctoral candidate. Therefore, as part of the Baekeland mandate, the mandate holder also has the right to publish. Within the agreements about intellectual property, publication might be postponed due to reasons of patent applications. The possibility of the mandate holder to publish cannot be denied without valid reasons.
5

When will the subsidy be granted?

The payment of this subsidy occurs in yearly instalments. The amount of these instalments has been agreed upon at the start of the project.
The first instalment is paid at the start of the project.
The primary applicant is responsible for the timely payment of any partners in instalments. The university is a contractual research partner. The primary applicant is responsible for paying all research partner costs that are part of the eligible costs for which the applicant receives the subsidy.
Payment by VLAIO is conditional on the proper implementation of the project and on compliance with the reporting and notification requirements.
At the end of the project, a final verification of the real costs is made. Based on the accepted costs and the applied support percentages, the total support is determined and the final instalment is paid, whereas the instalments already paid are taken into account.

What are the steps for payment of the final instalment for projects after 1 July 2021?

1

Preparation of the final financial report by the main applicant and any business partners

The main applicant and any business partners each prepare the final financial report (Excel cost template) separately. The final financial report (Excel cost template) to be uploaded includes the project costs that were approved with the application. Only these actual project costs are eligible and are added by cost category.
2
Substantiation of the costs by the main applicant and any business partners
The actual costs included in the final financial report are substantiated by means of supporting documents. These actual costs could be: the staff costs, operating costs, costs of external services and investment costs.
The supporting documents for these costs consist of:
Staff costs: individual accounts and/or pay slips.
Operating costs, if the ceiling was breached in both the approved budget and the final financial report:
a detailed statement (Excel) listing the costs recording the invoice date, invoice number, supplier, description, amount excl. VAT, amount incl. VAT, and (structured) notification where applicable;
the corresponding invoices with corresponding payment receipts bundled by supplier, provider and item;
and any other supporting documents.
Costs of external services:
a detailed statement (Excel) listing the costs recording the invoice date, invoice number, supplier, description, amount excl. VAT, amount incl. VAT, and (structured) notification where applicable;
the corresponding invoices with corresponding payment receipts bundled by supplier and provider.
investment costs: depreciation tables and the statement of balance sheet accounts (class 2).
3

Contact an accountant or auditor

The main applicant and any business partners each instruct an accountant or auditor. Only an (internal) (certified) (tax) accountant or an auditor can perform the Engagement (the certification). The in-house accountant can perform the Engagement (the certification) if they are an internal (certified) (tax) accountant with an ITAA membership number.
You can consult the public register of accountants and auditors at www.itaa.be and www.ibr-ire.be to check who is a member.
4
Provide the necessary information
Your accountant or auditor needs information to perform the Engagement (the certification). You therefore provide them with the following:
the final financial report (Excel cost template)
the supporting documents for the actual costs included in the final financial report
the URL to the 'Financial report with certification' requirement where the accountant or auditor performs the Engagement (the certification) (see Download frequently asked questions - 'Where can I find the URL to the 'Financial report with certification’ requirement where the accountant or auditor performs the Engagement?')
5
Have the Engagement performed by your accountant or auditor
The accountant or auditor can request the approved budget by sending an email to verificatie@vlaio.be. The accountant or auditor must thereby specify the dossier number and his/her membership number.
The accountant or auditor then carries out the Engagement based on the following received information:
the final financial report (Excel cost template)
the supporting documents for the actual costs included in the final financial report
the URL to the 'Financial report with certification’ requirement
the approved budget
The engagement involves performing agreed-upon procedures regarding financial information and any factual findings based on the final financial report (Excel cost template) incl. supporting documents and the approved budget.
6

View the summary of the submitted engagement

After submission, you can find the summary under the same URL that you as the main applicant and any business partners provided to the accountant or auditor.

Exception!

In certain cases, you do not have to use an accountant or auditor, but the legal representative may submit the 'Financial report with certification'.

This applies to:

Companies and knowledge institutions that have previously reached agreements with VLAIO around the use of gross wages for staff categories.
Organisations that use government pay scales.
In case interim financial statements have to be uploaded.
Companies that submitted the project application before 1 July 2021.

In these cases, you can submit the (final) financial report (Excel cost template) together with any supporting documents for the cost categories operating costs, costs of external services and investment costs by selecting the 'legal representative’ option.

The (final) financial report (Excel cost template) to be uploaded will include the project costs that were approved with the application. Only these actual project costs are eligible and are added here by cost category.