The Malta Business Bureau (MBB) has announced plans to boost SME take-up of three key EU funding streams.

The Innovation Leaders Training Programme will run until June 2015, aiming to train 150 applicants from the private sector, resulting in at least 15 project proposals being presented for funding under the Horizon 2020, Erasmus+ and Creative Europe streams.

Following the closure of the project, it is anticipated that the 15 individuals who submitted project proposals would train and mentor an additional 30 individuals by 2017.

“As the take up of Direct EU funds by the local private sector is still largely unexploited, this is a notably significant proposed outcome particularly when the funding streams involved can provide funding opportunities in areas such as creativity, training, research and development,” the MBB said.

“Experience has shown that the take-up of Direct EU funds from Maltese businesses is very low,” MBB president Mario Spiteri said. “There are many reasons behind this, with the most evident being a lack of knowledge and resources and therefore, it is a priority for the MBB to address this issue. The Innovation Leaders Programme is a key measure through which we will build and strengthen the capacity within enterprises to tap into Direct EU funding themselves.”

Innovation Leaders consists of three full days of masterclass training by funding experts selected by the European Projects Association (EPA) – the MBB’s transnational partner from Brussels on this project.

This will then be followed by two mentoring webinars, as well as a training session with decision-makers within the trainee’s companies. The proponents of the 15 most feasible projects will be sent on a study visit to Brussels.

www.innovationleaders.org.mt