Once you have submitted your WBSO application, the following steps occur:
Acknowledgment: You will receive an acknowledgment from the RVO confirming the receipt of your application.Initial Review: The RVO will conduct an initial review to ensure all required information and documentation are provided. If your application is incomplete, you will be given one opportunity to provide the missing information.Detailed Evaluation: A detailed evaluation of the technical and financial aspects of your project will be conducted. Advisors with knowledge of your field will assess whether your project qualifies as R&D under the WBSO criteria.Approval & Benefits Period: If your application is approved, the WBSO benefits will be applied for the duration specified in the decision letter. This is typically based on the project timeline outlined in the application.Audit Risk: Once your project is approved, the RVO may conduct audits to ensure that your R&D activities align with the application. Ensure you maintain accurate and detailed records to avoid compliance issues.
Example 1
A research company submits a complete and well-documented WBSO application. They receive prompt acknowledgment from the RVO, and the initial review is completed without any issues, leading to a successful detailed evaluation.
Example 2
A startup ensures their application is thorough and well-organized, meeting all RVO requirements. The initial review goes smoothly, and their project is approved after a detailed technical and financial evaluation.
Negative Example 1
An application is submitted with incomplete documentation. During the initial review, the applicant is asked to provide additional information, causing delays in the evaluation process.
Negative Example 2
A company submits an application without adequately addressing the technical challenges. The detailed evaluation reveals gaps in the technical and financial aspects, resulting in the application's rejection.