In a world that is constantly changing and where innovation is the key to success, the German Federal Council took a decisive step at its meeting on March 22, 2024. As part of the Growth Opportunities Act, innovations were adopted for the research allowance that could not only revolutionize the research and development (R&D) landscape in Germany, but also send a shining signal to companies: The future belongs to the brave, the inventors, the pioneers.
Are you ready to be a pioneer? Discover your opportunities now.
An age of innovation: The growth opportunity law
Imagine standing on the threshold of undiscovered possibilities, ready to push the boundaries of what is possible. The Growth Opportunity Act makes just that possible. With an impressive increase in the assessment basis for the research allowance from 4 million euros to a whopping 10 million euros from 2024, a gateway to new dimensions of research funding is opening up. This means potential funding of up to 2.5 million euros per year for large companies and even up to 3.5 million euros for the creative minds and innovators in small and medium-sized enterprises (SMEs). Such a financial boost can mean the difference between an idea that remains on paper and one that changes the world.
More than just money: an ode to inventors
Small and medium-sized enterprises in particular, which are often regarded as the backbone of the German economy, will receive an additional boost. The funding rate, previously a solid 25% of eligible personnel costs, will be increased by an additional 10%. This bonus of 35% is a clear sign of recognition and support for the tireless innovators who are working on tomorrow’s breakthroughs in their laboratories and offices.
Expanding what can be funded: A horizon full of possibilities
For the first time, in addition to personnel costs, expenditure on purchases and production that goes directly into qualified R&D projects is also eligible for funding. This opens up a new world of possibilities, from the acquisition of state-of-the-art equipment to the realization of complex prototypes. In addition, the depreciation allowance for such investments is doubled, encouraging companies to invest even more boldly in the future.
Your time, your value: recognizing your own work
In a world where time is often considered the most valuable resource, the law significantly increases the hourly rate for personal contribution. From now on, the time that sole proprietors and partners in a co-entrepreneurship invest in their projects will be recognized at 70 euros per hour – a clear sign of recognition for personal commitment and innovative spirit.
Act before time runs out
An important message of the law is its urgency: the first deadlines expire as early as 2024. Projects that have been running since January 2, 2020 must be submitted to the BSFZ by the second quarter of 2024 at the latest. A three-month processing time for approval means that now is the time to act.
Take control of your future. Get in touch with us today.
Your guide to funding
The Growth Opportunities Act is your invitation to be part of a new era of innovation in Germany. If you are ready to take full advantage of the opportunities available to you, visit our website and fill out the contact form. Our experts are ready to guide you through the jungle of funding opportunities and make sure you can take advantage of every opportunity.
In a world where the only constant is change, the Growth Opportunities Act offers a bridge to the future. Take the initiative and let’s push the boundaries of what’s possible together. It’s time to bring your vision to life and create the future we all want.
Contact:
EPSA Germany Funding Consulting
Christian Fischer
Head of Press and Public Relations
Cecilienallee 6-7
DE-40474 Düsseldorf
Mobil: 0152-227-227-50
Mail: c.fischer@kloepfel-services.com