Start-up Investment Grant Scheme
MAXIMUM GRANT €300,000, PART-FINANCING 50 % OF ELIGIBLE EXPENDITURE
Malta has consistently been ranked as one of the fastest growing economies in the European Union with Small and Medium-sized Enterprises (SMEs) increasing by approximately 20% over recent years. [i]
Despite years of entrepreneur culture, it is quintessential for Small and Medium-sized Enterprises (SMEs) to undergo financial constraints.
Fundamentally, start-ups pose as many challenges and risks as opportunities and rewards. As part of the normal dynamics of a healthy economy, only 50% of businesses survive five years post inception. (Source: European Commission, SAFE Analytical Report 2017) [ii]
Coupled with potential progressive gains to the economy that can accrue from fostering an environment that supports start-ups, further instigates the need for tangible assistance at an early stage.
The start-ups must be engaged in one of the following activities, to part-finance their initial investment in assets, in line with a business plan, to implement their business growth strategies:
- The production, manufacture, improvement, assembly, preservation, processing of goods, materials, commodities, equipment, plant machinery;
- Biotechnology, Pharmaceuticals and Life Sciences;
- Research and Technological Innovation;
- The repair, overhaul or maintenance of pleasure crafts, yachts having less than 100gt, aircraft, engines or equipment incorporated or used in such vessels or aircraft;
- Information and communication technology (ICT) development activities, software development;
- Eco-innovations, and environmental solutions;
- The creation of tourism products and services as a result of networks created between traditional tourism service providers and the crafts and artisan sector;
- The development and provision of tourism products and services related to emerging niche markets;
- The development and provision of tourism products and services related to the promotion of natural and cultural heritage;
- The development and provision of tourism products and services relating to social tourism with specific focus on senior tourists, accessible tourism and active ageing;
- The development of innovative concepts, products and services offered by Boutique Hotels and Palazzini;
- The development, and/or provision of E-health solutions;
- The development and provision of services and products promoting healthy living;
- The development and provision of services and products promoting active ageing;
- The development and provision of services and products related to child-day care;
- The development and creation of crafts and artisan products;
- Retail activities by self-employed and family businesses engaged in craft;
- Start-ups proposing products and/or services that can be marketed and distributed internationally and which are typically more advanced than those prevailing in their respective industry in terms of technology, know-how and skills.
(Cost not to exceed 10% of the total eligible expenditure of the project.)
- Lease/rental of private operational premises.
- Construction/up-grades of private operational premises.
- Purchasing of equipment, machinery and plant.
- Patents and licenses.
Expenditure shall only be considered eligible if the cost item is approved in the Grant Agreement, no modifications were made without the prior approval of the IB, and that the expenditure is evidenced by supporting documentation and the procurement was undertaken in line with the Guidelines for Implementation issued by the IB together with these Guidance Notes.
MAXIMUM GRANT VALUE and AID INTENSITY
The maximum grant is being made available through competitive calls issued by the Measures and Support Division.
|Maximum Grant Value
This Grant Scheme will remain effective until 31st December 2020, subject to availability of funds.
[i] https://eufunds.gov.mt/en/Operational%20Programmes/Programming%20Period%202014%20- %202020/Operational%20Programme%201/Documents/Adopted%20OPI(ff).pdf