The budget of the Proof of Concept program amounts up to € 500,000 per year for supporting 10 ideas (up to 50,000 for each project). Exceptionally, projects that require more maturing time will be able to extend to an additional 6-month period without increasing the economic requirements. Each “Proof of Concept” project will be continuously assessed and discontinued if the development of the concept is negatively assessed by the Advisory Board.
Administrative costs that are mainly relevant to Advisory Board activities are estimated to 50.000 € annually. PSP will finance this kind of expenses.