BUSINESS COMPANIES ECONOMY FINANCE&BANKING

SMEs to get aid for developing innovation projects

In a memorandum on Wednesday, the Government approved a de minimis state aid scheme in the form of ”innovation cheques” for the economic, budgetary and financial policies of the Romanian Government.

The Government reports in a press statement that the cheques are financial grants to the SMEs to fund highly innovative projects provided from the allocations under the 2015-2020 National Research, Development and Innovation Plan – PNCDI III.

“The non-repayable innovation cheque is capped at 45,000 lei, to be used by the beneficiaries – SMEs – to cover at most 90 percent of the total value of services provided by the research organisations. The innovation cheques provide funds to facilitate the procurement of research and development and innovation services from public research organisations,” reads the statement.

The aid becomes available in Q4 2016. It will run throughout 2018 on a total budget of 20.25 million lei.

The budget covering the innovation cheques will be approved under PNCDI III. There are 6.75 million lei for 2016. The number of beneficiaries for the total life of the de minimis scheme is estimated at 450.

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