MIT stands for Innovation Stimulation Top Sectors. Grants are provided to SMEs to carry out an MIT feasibility project. An MIT feasibility project consists of a feasibility study or possibly a combination between a feasibility study, industrial research and/or experimental development. Note that at least 60% of the costs of the MIT feasibility project consists of a feasibility study. These activities are essential for technological innovation and are therefore often supported by governments, fiscal incentives, or other financing mechanisms. In a feasibility project, at least 60% of the activities will be carried out under the heading of a feasibility study. You can then think of: Literature review Patent investigation Inventory of available technologies and potential partners Market exploration Competition analysis
The subsidy amounts to 40% of the eligible costs, up to a maximum amount of € 20,000 per feasibility project. Applying for a subsidy for MIT feasibility projects is possible from April 4, 2024. The first come, first serve principle applies to this arrangement. This means that applications are assessed on an incoming basis until the budget is exhausted. Our experience shows that the subsidy ceiling is exceeded on the first day. Therefore, make sure that subsidy is applied for in good time. We often see that the budget is exceeded on the very first submission day. All applications received on that day are compared with each other.
Did you know that there is also an MIT R&D collaboration program ? Especially for SMEs that enter into a collaborative partnership and focus on the development or innovation of products, production processes, and/or services. Of course, we can also assist you with this.
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