Grants for Scale-ups in Wallonia and Brussels

Scale-ups in Wallonia and Brussels face a different funding landscape than their Flemish counterparts. While Flanders channels most growth support through VLAIO and PMV, Wallonia and Brussels rely on their own regional agencies: SPW and Wallonie Entreprendre in Wallonia, and Innoviris in Brussels.

The good news for scale-ups in these regions is that competition for certain programs is lower than in Flanders, and the programs are increasingly tailored to companies in the growth phase rather than just startups.

This guide covers every major grant and financing option available to scale-ups in Wallonia and Brussels, including regional programs and EU-level opportunities accessible from both regions. Use BelGrant’s AI assistant to match your company profile with available programs.

Innoviris Co-Create is one of Brussels’ most valuable programs for scale-ups. It funds collaborative innovation projects between companies and academic or research partners, with funding rates that can reach 50 to 70 percent of eligible costs for SMEs.

For scale-ups, Co-Create is attractive because it supports ambitious projects that combine cutting-edge research with commercial application. Projects typically run 12 to 36 months and must demonstrate genuine technical innovation.

The collaborative aspect can be a strength for scale-ups: partnering with a Brussels university or research centre adds credibility to the application and provides access to specialised research infrastructure that would be prohibitively expensive to build in-house.

Scale-ups that have outgrown Proof of Business or Proof of Concept programs often find Co-Create to be the natural next step in their Innoviris funding journey.

The SPW (Service Public de Wallonie) offers investment aid programs for companies expanding in Wallonia. These cover capital investments in equipment, buildings, and infrastructure needed for scaling operations.

The investment premium (prime à l’investissement) can cover 4 to 12 percent of eligible investment costs, with higher rates available in designated development zones. For scale-ups making significant capital investments, this can represent meaningful support.

SPW also offers employment aid (aides à l’emploi) for companies creating new jobs in Wallonia. Scale-ups that are rapidly growing their teams can access hiring incentives that reduce the effective cost of each new employee.

Applications require a detailed investment plan, financial projections, and evidence of the project’s economic impact on the Walloon region. The evaluation process typically takes 2 to 3 months.

Wallonie Entreprendre (formerly SRIW and Sogepa) is the Walloon investment arm, providing co-financing solutions for growing companies. It offers subordinated loans, equity participations, and guarantee instruments.

For scale-ups raising growth capital, Wallonie Entreprendre can co-invest alongside private investors, providing validation and reducing the risk for other financial partners. Loan amounts typically range from €100,000 to several million euros.

The organisation particularly targets companies in Wallonia’s priority sectors: life sciences, aerospace, cleantech, digital technology, and agri-food. Scale-ups in these sectors benefit from faster processing and dedicated sector advisors.

Combining Wallonie Entreprendre financing with SPW grants creates a comprehensive funding package: grants reduce the equity required for projects, while Wallonie Entreprendre loans provide the working capital needed for rapid growth.

The EU’s EIC Accelerator offers up to €2.5 million in grants plus up to €15 million in equity for high-growth innovative companies. This program is accessible to scale-ups in both Wallonia and Brussels, and Belgian companies have a strong track record.

For Belgian grant purposes, there is no single legal definition of a scale-up. However, common criteria include: annual revenue growth above 20 percent for three consecutive years, or significant headcount growth over the same period. Some programs use the OECD definition focusing on average annual growth of 20 percent or more over three years.

In practice, if your company has validated its product-market fit, is generating revenue, and is focused on rapid expansion rather than initial development, you are likely in the scale-up category for most Belgian programs.

BelGrant’s AI assistant can help you determine which category your company falls into and which specific programs are the best fit for your growth stage and region.