€51 MILLION IN GRANTS TO SUPPORT ENTERPRISES
The Business Enhance Grants Schemes, part-financed by the European Regional Development Fund 2014-2020, seek to support enterprises when undertaking investment projects aimed at securing sustainable business growth, by becoming more competitive, innovative and become more resilient to market challenges.
The Grant Schemes address a number of priorities under Operational Programme I 2014-2020 ‘Fostering a competitive and sustainable economy to meet our challenges’. These will fall under three main priority axis:
Priority Axis 1: Investing in research, technological development and innovation
Priority Axis 2: Consolidating Investment within the ICT sector
Priority Axis 3: Enhancing Malta’s competitiveness through investment in SMEs
The first two schemes launched under this initiative are the Start-up
Investment Grant Scheme and the SME Growth Grant
Start-up Investment Grant Scheme: Maximum Grant €300,000
Aimed at assisting start-ups in overcoming challenges in their early stages and to economically exploit their ideas to ensure their survival, this scheme shall assist start-ups to part-finance 50% of the eligible expenditure related to their initial productive investment costs in tangible and intangible assets when implementing their business growth strategies.
SME Growth Grant Scheme: Maximum Grant: €500,000
Budget: €8 million
This scheme seeks to assist SMEs to respond to market demands and undertake timely interventions by part-financing eligible expenditure related to initial investments in tangible and intangible assets towards the implementation of their growth strategies related to the extension of the capacity of an existing establishment, or the setting up of a new establishment. The applicable aid intensity for micro and small enterprises is 35% and 25% for medium enterprises.
SME Diversification and Innovation Grant Scheme: Maximum Grant: €200,000
Budget: €8 million
This incentive seeks to assist SMEs through Grants to part-finance 50% of the eligible expenditure related investment to develop focused strategies and implement an initial investment in favour of diversification; a fundamental change, or towards investment to bring to the market significantly improved and advanced products/services to those already offered by the Undertaking.
SME Internationalisation Grant Scheme: Maximum Grant: €10,000
Budget: €2 million
This Grant Scheme is intended to facilitate the process towards the internationalisation of SMEs through active participation at International Business Promotion Fairs by part-financing 50% of the eligible expenditure.
Click here to access the Business Enhance ERDF Grant Schemes portal.