Ideas Fund

The Ideas Fund provides grants to test early ideas and determine whether they are technologically and/or commercially feasible - the proof of principle.

Who is the Ideas Fund suitable for?

Amount

The grant amount is 35% of the total eligible costs, subject to a minimum of euro 15,000 and maximum of euro 50,000.

Eligible costs

The following demonstrable costs of the feasibility study are eligible under the grant:

  • wage and labour costs (hourly fee of €60);
  • materials costs, e.g. for building a non-functional prototype;
  • depreciation costs of resources provided these are necessary for the execution of the project and have been recorded in the approved project plan. Depreciation is based on the economic lifespan. If the resources are also used for any purposes other than the project, a proportion of the depreciation will be covered in consideration of usage for the project;
  • costs for using the facilities;
  • costs for contracting third parties.

The following costs are not eligible:

  • training/education;
  • fundamental research;
  • certification;
  • patenting;
  • forming a legal entity under private law;
  • expenses incurred prior to submitting the application;
  • deliveries taken at least 12 months ago (without the application of internal rates).

Procedure

  • You need to submit your application to LBDF;
  • LBDF will then determine whether your application is complete and complies with the rules;
  • You will then need to cooperate with LBDF to process the application further;
  • Applications are assessed on the basis of:
    • innovation;
    • technical feasibility;
    • market potential;
    • economic feasibility;
    • entrepreneurship.

If your application is successful, we will then:

  • Determine the grant amount;
  • approve and iussue the grant.

Please note

Any substantial changes to the project plan in terms of approach, time, or costs must be justified and submitted to the Provincial Executive for approval.

Please address any such notifications to: LIOF, postbus 1310, 6201 BH Maastricht.