CIRCULAR Budget Revision Between Different Activities Eligible for Aid in Projects Funded in the Frame of the RESTART 2016-2020 Programmes

With the present Circular, the Research and Innovation Foundation (RIF), wishes to inform Project Coordinators (PCs) and Legal Representatives about the management of funded Projects which include more than one Activities Eligible for Aid. As such, the Circular refers only to the Entrepreneurial Innovation Programmes (PRE-SEED, SEED, INNOVATE).

 

As far as budget revisions of funded Projects are concerned, the RIF wishes to clarify the following:

 

  • The PC is entitled to proceed to budget revisions without prior approval from the RIF, as described in Chapter 3.1 – Section III of the RESTART 2016-2020 Work Programme Document, only in the case when the revisions fall within the same Activity Eligible for Aid.
  • For budget Transfers between different Activities Eligible for Aid (in the Entrepreneurial Innovation Programmes), the PC should submit a relevant request and obtain approval from the RIF.

 

For budget transfers between different Activities Eligible for Aid, the RIF wishes to clarify the following:

 

  • The Final Aid Intensity of each organisation, which is defined as the rate of the Requested Funding in relation to each organisation’s Budget, should not exceed the Final Aid Intensity defined in the Project Contract, and the Final Funding by the RIF (for the Project) may not exceed the Requested Funding defined in the Contract.
  • Individual Aid Intensities for each Category of Activities Eligible for Aid, should not exceed the respective Maximum Aid Intensity for each category, as defined in the RESTART 2016-2020 Work Programme Document.

 

Research and Innovation Foundation, May 2021

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