The goal of the new "Digital Now" program is to promote the digitalization of business processes, develop new business models for SMEs, and secure the long-term competitiveness and innovation of companies. Furthermore, through training, employees will learn how to recognize and evaluate the opportunities offered by digitalization and initiate future investments within the company.
A total of €203 million is available for the funding program, which runs until the end of 2023. €40 million is available until the end of 2020. The funding rate for investment costs is staggered according to company size. For SMEs with up to 50 employees, the funding rate is up to 50 percent, for SMEs with up to 250 employees, up to 45 percent, and for SMEs with up to 499 employees, up to 40 percent. The ministry intends to use this to initially cushion the challenges of the coronavirus crisis. Starting in July 2021, the funding rates will then decrease by 10 percentage points each.
In addition, the funding system includes a bonus percentage point system, which can increase the funding rate by up to 20 percentage points. For example, investments in IT security or in structurally weak regions are additionally considered. The maximum funding amount is €50,000 per company; for investments in value networks, it can be up to €100,000 per company. The share that the company itself must contribute to the planned digitalization investment can be funded through loan and equity investment programs.
"Small and medium-sized enterprises in particular can benefit from the digital age. The Federal Ministry for Economic Affairs and Energy supports them with the new funding program "Digital Now" in the digitalization of business processes and the development of new business models,"
explained Peter Altmaier, Federal Minister for Economic Affairs and Energy.
Application
The Financial support Applications can be made by all medium-sized companies from all sectors (including skilled trades and the liberal professions) with three to 499 employees. The prerequisite is that the companies submit a digitalization plan that describes the project and lists the type and number of planned measures. Furthermore, the project must not have yet begun at the time of funding approval.
Due to the high level of interest, the Ministry of Economic Affairs has temporarily suspended the application process. Registration is expected to be open again from October 15.
All information about the program can be found on the website.
