Enterprises will be eligible for €20 million in EU funds for research thanks to a Research and Innovation scheme launched Thursday.

Calls for applications will be issued in February.

Speaking at the launch of the event at the Chamber of Commerce offices, Dr Farrugia said he envisioned Malta as a “beta island” where research projects could be tested.

The incentive, he said, targets research in areas such as manufacturing, health, aviation and ICT.

The scheme seeks to support enterprises through a grant to conduct Feasibility studies that assess the potential of undertaking a planned research and development project.

The scheme will also target the development of research infrastructures.

Financial incentives remain critical for the commitment of enterprises in research and innovation, the parliamentary secretary said.

“I want Malta’s leading innovators to use these funds to help build our economy and society of the future,” concluded Dr Farrugia.

Chamber president Frank Farrugia lamented that the country lacks a robust innovation strategy.

The positive spillover of research into business investments was often forgotten, he said.