Applications for funding can be submitted to the NBank from September 23, 2020. The innovation and investment package is part of the economic stimulus package that the state parliament passed as part of the 2nd supplementary budget in July.
The "Neustart Niedersachsen Investition" and "Neustart Niedersachsen Innovation" programs in particular are intended to benefit companies in Lower Saxony that recorded a drop in turnover between April and June.
All companies in the commercial sector can apply for investment funding. The investments should also make a contribution to climate protection. Companies can receive grants of up to 250,000 euros (automotive industry up to 800,000 euros).
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The innovation funding program can be applied for by all companies for innovation projects that result in an improved product, an improved production process or an improved service in the company. Reimbursement is 60 percent of expenditure (automotive industry 75 percent), the maximum grant is 800,000 euros.
Personnel expenses must account for more than 50 percent of the expenditure. The innovation vouchers benefit small and medium-sized companies with up to 500 employees. With grants of up to 30,000 euros, 80 percent of expenditure on research and development projects commissioned externally can be funded.