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Subsidies

Innovation mandates

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Follow-up and payment

  • 1

    Support agreement

    In case of a positive decision, a support agreement is concluded between the ‘Fonds voor Innoveren en Ondernemen’ and the beneficiaries.  

    For spin-off mandates and to support projects in Phase 1, the university/ knowledge centre is the beneficiary. 
    In Phase 2, the company (companies) is (are) the beneficiary (beneficiaries). 
    The support agreement must also be signed by the mandate holder and is a best efforts obligation (It binds the partners to make every effort to achieve the described innovation goal.). 

    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 constitutes the basis for the funding agreement. It is possible to modify the work programme within the scope of the innovation goal without amending the agreement. 

    The mandate holder must submit a progress report every six months. At the end of Phase 1 and upon completing the mandate, a report is required on: 

    • Scientific progress; 
    • Achieving the innovation objectives including strategic application; 
    • The valorisation report; 
    • The financial report. 
  • 3

    When will the subsidy be granted?

    The provided funding is project-based and paid in instalments every year, in the form of advance payments. The first advance is paid after receipt of the signed funding agreement and the signed cooperation agreement. 

    In Phase 2, the company is responsible for the timely payment of the research partner(s) in advances of at least six months. The company covers the total invoice of the research partner(s) that is part of the eligible costs on which the funding was calculated and the subsidy granted. 

    Payment is conditional on proper compliance with the agreements. 

    At the end of the project implementation, a final audit of actual costs will carried out. Depending on the approved costs and the funding rate applied, the total subsidy is calculated and a final instalment is paid out taking into account the advances already paid.

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.

Further information

Toelichtingsdocumenten uitvoering & opvolging:

Voortgangsverslag, tussentijdsverslag of verslag fase 1:

Inhoudelijk eindverslag:

Financieel eindverslag:

Programmaspecifieke voorwaarden Innovatiemandaat:

Algemene voorwaarden Innovatiesteun:

Varia:

Contact

Address
VLAIO

Koning Albert II-laan 35 bus 12
1030 Brussel
Belgium

Telephone
T0800 20 555
Mail
Baekeland-IM@vlaio.be