Is your small or medium-sized business developing or considering acquiring an innovative solution, and would you like to assess its commercial potential? You may be eligible for regional funding for strategic marketing consulting, subject to certain criteria. Find out if your business qualifies!
Innovation Incentives in Wallonia
In September 2021, the Wallonia Public Service launched a major reform of its portfolio of technological research grants, with the goal of making it clearer and more accessible.
This results in five major categories of mechanisms:
- Conducting a Research Project
- Starting an Innovative Business
- Become part of a (inter)national initiative
- Hiring Research Staff
- Seeking External Expertise
In this article, we will focus on the fifth division (“Seeking External Expertise” / Win4Expertise), and more specifically on its strategic marketing consulting program.
What is the Win4Expertise – Marketing Consulting program?
The Win4Expertise – Strategic Marketing Consulting program is designed for small and medium-sized businesses (SMEs) that wish to engage the services of an external consulting firm to assess the commercial potential of an innovative product or process.
For what types of marketing consulting services can I receive a grant?
As part of the development of an in-house solution, eligible marketing consulting expenses are intended to:
- Assess the commercial potential of the product or process
- Developing a Marketing and Communications Strategy
- Position the solution in the market
- Establish a pricing policy
- Assess the product's compliance with applicable regulations in the target markets
- Explore options for protecting or patenting the innovation
In connection with the acquisition of new foreign technology, eligible marketing consulting expenses are intended to:
- Evaluate the technology
- Positioning it in the market (benchmarking)
- Estimating Your Value Potential
- Define Strategic Issues
- Identify Training Needs
- Get legal assistance with contract negotiations
Expenses related to the implementation of the business strategy are excluded from the program.
How much is the Win4Expertise – Strategic Marketing Consulting grant?
Once the application is approved, the Region provides a grant covering 75% of the cost of the consulting services.
Important information if you receive other forms of assistance:
- The Win4Expertise – Strategic Marketing Consulting and Win4Expertise – Technical Support grants are included in a single funding pool, with a maximum limit of €200,000 over three calendar years per company.
- Win4Expertise grants are not subject to the “de minimis” rules.
Is my business eligible?
Your company is eligible if:
- It is an SME registered with the Cross-Reference Database of Enterprises (BCE)
- It has at least one significant operational location in the Walloon Region
- She is not in financial trouble.
The funding agency will also review criteria related to your project, including:
- The innovative nature
- The potential for economic development and job creation
- The Product's Impact on Sustainable Development
- The risk associated with the project
- Your ability to secure financing.
Where, when, and how do I file an application?
You can submit your application for admission to the Win4Expertise – Strategic Marketing Consulting program to the SPW for Economy, Employment, and Research.
The response time after submitting the application ranges from 3 to 6 months.
Strategic Marketing: The Key to the Commercial Success of Your Innovative Project
Very often, bringing a new, innovative solution to market or acquiring foreign technology is a critical undertaking for a company. Indeed, the associated costs and risks are considerable.
In this context, there are many key questions that need to be considered before the project begins:
- What are the total costs of the product over its entire life cycle?
- Has the addressable market been properly identified?
- Is there a demand for the solution, and has it been assessed?
- Is the product's positioning clear and relevant in relation to the competitive landscape?
- Is the pricing strategy both well-suited to the market and capable of adapting to different future scenarios?
- Have the resources necessary for the project's commercial success been identified?
This is just a sample of the strategic marketing questions that Maia Consulting can help you address.
With a team of more than fifteen experienced senior consultants, Maia Consulting offers its expertise to innovative small and medium-sized businesses in Wallonia.
Contact us to discuss your project.
Main photo credit: jannoon028