The vast majority of applications for the PwC €1 million fund have been approved, with only seven out of the 50 applications received either refused or withdrawn.

The fund, which is supported by Allied Newspapers and the University of Malta, provides pro-bono services to applicants for everything from help with their business plan and mentoring, to assistance with applications for financing. Over half the applications have come from the ICT sector, with the next most popular sectors being art, culture and antiques, and the health sector.

The applicants were also fairly evenly split when it comes to their stage of development. Twenty of the 50 were only at the research and development stage, while 23 were either about to start up or were less than a year old. Only seven companies were already over a year old.

Applications are still open on www.pwc.com/mt/onemillioneurofund.

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