Innovation Loan 2023
Medium-sized companies, founders, and freelancers can receive an interest-subsidized loan of up to EUR 7.5 million for innovative projects, especially in the field of digitalization.
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Grant criteria
Funding objective
WIBank Hessen supports rapidly growing and/or innovative medium-sized enterprises, start-ups, and members of the liberal professions with tangible and intangible investments, working capital – especially digitalization projects – as well as business transfers in Hessen.
Eligible expenses
- Tangible investments
- Intangible investments
- Operating resources
- Digitalization projects
- Business transfers
Non-eligible expenses
- Debt restructuring
- Extensions
- Pre-financing
- Subsequent or follow-up financing
Eligible to apply
- Companies
- Founders
Funding requirements
- Registered office or establishment in Hesse
- Fulfillment of at least one of the 12 defined innovation criteria (e.g., high R&D expenditure, patent applications)
- Sustainable economic success and positive impact on the state of Hesse
- Compliance with environmental and social law standards as well as sustainability guidelines
- Overall financing of the project must be secured
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Documents required for application
- Application through the house bank
Evaluation criteria
- Fulfillment of the defined innovation criteria
- Sustainable economic success
- Positive impact on the Hessian economy
Description
The Innovation Loan 2023 from the Wirtschafts- und Infrastrukturbank Hessen (WIBank) is aimed at medium-sized companies, start-ups, founders, as well as freelancers with headquarters or branches in Hesse. Subsidized loans ranging from EUR 100,000 up to EUR 7.5 million are provided for tangible and intangible investments, working capital, digitization projects, and business transfers. A fully secured overall financing of the innovation project is a prerequisite, as well as meeting at least one of twelve defined innovation criteria – including, among others, high R&D expenditures, patent applications, or sustainable growth. The borrower can finance up to 100% of the eligible expenses, with the house bank assuming a 70% liability release. Applications must be submitted continuously before the start of the project through the house bank.
With this funding, the state of Hesse aims to sustainably strengthen the regional economic strength and innovation capability. The expected economic success, the positive effect on the Hessian economy, and compliance with environmental and social legal standards according to the guidelines of Landesbank Hessen-Thüringen are evaluated. Listed companies and companies in difficulty, as well as debt restructuring, extensions, pre-/post- and follow-up financing, are excluded. The Innovation Loan 2023 thus offers a tailored financing component for all those who want to advance forward-looking projects in the field of digitization and beyond, supporting rapid growth initiatives in the economic region of Hesse. Further information is available from the house bank or directly from WIBank, the central development bank of the state of Hesse.
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