Cabinet finally earmarks 602 million euros for five National Growth Fund projects | News item

News item | 21-10-2022 | 13:45

In April of this year, the government announced the project contributions from the second round of the National Growth Fund. The projects contribute to sustainable and economic growth in the Netherlands. Several projects had to substantiate their proposal in more detail. This substantiation is now sufficient for five projects and the cabinet will definitively allocate 602.3 million euros.

The cabinet is following the advice of the advisory committee and allocating a subsidy of 266.6 million euros to PhotonDelta. This investment by the growth fund in photonics ecosystems is intended to make the Netherlands a frontrunner in the global chip industry. In order to increase the innovative strength and productivity of companies, the government will allocate 152.6 million euros to the cooperation between vocational education and employers. In addition, the cabinet sees opportunities as a world leader to contribute to the protein transition and is allocating 60 million euros for this. 26.2 million euros is being earmarked for the sustainable transformation of work locations in the form of work landscapes. Finally, the Self-thinking Molecular Systems project will receive 96.9 million euros. Another project did not meet the conditions and was not awarded funding.

What is the National Growth Fund?

With the National Growth Fund, the government will invest 20 billion euros between 2021 and 2025 in projects that ensure sustainable economic growth for the long term. All projects that receive money from the National Growth Fund are assessed by the independent advisory committee. The cabinet will then take a decision based on that advice. In some cases, the Committee asks for a better substantiation of the proposal, after which the committee again issues advice to the cabinet.

Third round

Entrepreneurs and knowledge institutions can submit project proposals again between 2 January and 3 February 2023. These will be assessed by the independent advisory committee before the summer of 2023, after which the cabinet will make a decision.

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